{"id":9198,"date":"2023-05-15T23:49:40","date_gmt":"2023-05-16T03:49:40","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/xrp-price-prediction-as-lawsuit-conclusion-approaches-can-xrp-hit-10-in-2023\/"},"modified":"2023-05-15T23:49:40","modified_gmt":"2023-05-16T03:49:40","slug":"xrp-price-prediction-as-lawsuit-conclusion-approaches-can-xrp-hit-10-in-2023","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=9198","title":{"rendered":"XRP Price Prediction as Lawsuit Conclusion Approaches \u2013 Can XRP Hit $10 in 2023?"},"content":{"rendered":"
\n

XRP, the cryptocurrency that powers the global payments-focused decentralized layer-1 blockchain protocol the XRP Ledger that was created by US fintech company Ripple, continues to consolidate just to the north of its 200-Day Moving Average, having found robust support above this key level last week.<\/p>\n

But XRP remains stuck within an aggressive downtrend that has been in play since mid-April, meaning that near-term price predictions remain somewhat downbeat.<\/p>\n

XRP\/USD was last changing hands in the mid-$0.42s, down nearly 10% this month and down around 28% from March\u2019s highs in the $0.58 area.<\/p>\n

Unless the cryptocurrency can break out of its current downtrend, a retest of the 200-Day Moving Average seems likely and potentially even a break below it.<\/p>\n

That could open the door to a retest of March lows in the $0.35s. \u00a0<\/p>\n

But with broader cryptocurrency markets gaining some steam on Monday \u2013 Bitcoin was last up more than 2% – the risks of a bullish breakout for XRP are rising.<\/p>\n

If XRP was able to get back to the north of its 100-Day Moving Average near $0.4350 and close above the current downtrend (confirming a breakout), the cryptocurrency that could open the door to a run back to yearly highs, or at least the mid-April highs in the $0.54 area.<\/p>\n

XRP Price Prediction as Lawsuit Conclusion Approaches<\/strong><\/h2>\n

One potential catalyst for an XRP surge could be the conclusion of, or rumors of a conclusion of, the ongoing legal battle between the US Securities and Exchange Commission (SEC) and Ripple.<\/p>\n

The SEC sued Ripple back in December 2020 over allegedly raising $1.3 billion via the issuance of XRP as a security, something which Ripple denies.<\/p>\n

The fintech company that created the XRP Ledger claims XRP is a commodity.<\/p>\n

XRP pumped back in March on optimism that Ripple is set to win a favorable outcome in its lawsuit with the SEC.<\/p>\n

While most of that pump has since unwound, a ruling from district judge Analisa Torress on the lengthy lawsuit it expected soon.<\/p>\n

Ripple CEO Brad Garlinghouse revealed in a recent interview with CNBC that he thinks the lawsuit will be resolved in the first half of 2022, meaning potentially within the next two months.<\/p>\n

Any indications that Torress might rule in favor of Ripple, or that the SEC might want to settle with Ripple, could result in a major near-term pump for XRP, which would very likely print new highs for the year above $0.60.<\/p>\n

Can XRP Hit $10 in 2023?<\/strong><\/h2>\n

Whilst a favorable ruling or outcome to the SEC lawsuit would certainly be a huge positive catalyst for XRP, and would very likely see the cryptocurrency become one of the best performers in the crypto space this year, more than 10x gains to hit $10 per token this year might be an overly optimistic forecast.<\/p>\n

That\u2019s because the bull market in the broader crypto markets appears to still be in its infancy.<\/p>\n

Yes, macro conditions are set to improve this year, with the Fed\u2019s rate hiking cycle looking likely to already be over.<\/p>\n

But cryptocurrencies like Ripple may have to wait a few years and for further fiat currency debasement (via new rate cutting cycles and liquidity injections) to post 10x gains from current levels.<\/p>\n

XRP (XRP) and Blue-chip Crypto Alternatives to Consider<\/strong><\/h2>\n

While blue-chip cryptocurrencies may continue to perform well in the coming months and years, investors should nonetheless always be on the lookout to diversify their crypto holdings.<\/p>\n

One high-risk-high-reward investment strategy that some investors might want to consider is getting involved in crypto presales.<\/p>\n

This is where investors buy the tokens of up-start crypto projects to help fund their development.<\/p>\n

These tokens are nearly always sold very cheap and there is a long history of presales delivering huge exponential gains to early investors.<\/p>\n

Many of these projects have fantastic teams behind them and a great vision to deliver a revolutionary crypto application\/platform.<\/p>\n

If an investor can identify such projects, the risk\/reward of their presale investment is very good.<\/p>\n

The team at Cryptonews spends a lot of time combing through presale projects to help investors out.<\/p>\n

Here is a list of 15 of what the project deems as the best crypto presales of 2023.<\/p>\n

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.<\/sup><\/i><\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

XRP, the cryptocurrency that powers the global payments-focused decentralized layer-1 blockchain protocol the XRP Ledger that was created by US fintech company Ripple, continues to consolidate just to the north of its 200-Day Moving Average, having found robust support above this key level last week. But XRP remains stuck within an aggressive downtrend that has […]<\/p>\n","protected":false},"author":1,"featured_media":9199,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-9198","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nXRP Price Prediction as Lawsuit Conclusion Approaches \u2013 Can XRP Hit $10 in 2023? | iFintechWorld<\/title>\n<meta name=\"description\" content=\"XRP, the cryptocurrency that powers the global payments-focused decentralized layer-1 blockchain protocol the XRP Ledger that was created by US fintech\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=9198\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"XRP Price Prediction as Lawsuit Conclusion Approaches \u2013 Can XRP Hit $10 in 2023? 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