Despite XRP’s current trading price of around $0.52, numerous analysts have made bold predictions for the asset’s future valuation. One X user, Dark Defender, believes XRP can rise to $5.85 and later to a whopping $18.22, based on their Elliott Wave analysis.
Even more outrageous is JackTheRippler’s forecast of an ascent to a staggering $100. However, none of these predictions can match CryptoBull’s analysis from 2023, suggesting that XRP may skyrocket to a mind-boggling $470 sometime in the future. It’s worth noting that for this level to be achieved, the asset’s market capitalization would need to explode above $200 trillion, which is highly unlikely given the current crypto market cap of around $2.5 trillion.
The ongoing legal battle between Ripple and the US Securities and Exchange Commission (SEC) is considered a major factor impacting XRP’s price movements. With Ripple securing three partial court wins throughout 2023, some view the SEC as the underdog in the case that recently entered its trial phase. According to lawyer Jeremy Hogan, both parties now expect the judge’s ruling, which could significantly influence XRP’s trajectory – a decisive victory for Ripple may trigger a bull run, while an unfavorable outcome could halt the asset’s upward momentum.
