This year has been a tough sail for XRP since May 2022, when the Terra/Luna implosion caused a cascade of bankruptcies, layoffs, and liquidations. Subsequently, the chain of unfortunate market and geopolitical events like the Russian invasion of Ukraine, U.S. inflation, and 3AC and Celsius insolvency, has also contributed to the downward pressure on the price of XRP.
With the recent massive downfall of the crypto market caused by FTX contagion, is it possible for XRP to reclaim its all-time high in 2023? Continue with the article to learn about XRP price analysis and prediction by Coinpaper.
Read also: Did Bitcoin Bottom Already?
What is XRP?
XRP is a cryptocurrency created by Ripple, a privately held fintech company that provides a fast and cost-effective way for banks and payment providers to send and receive money around the world. XRP is a native token of XRP Ledger, the open-source distributed ledger that underpins Ripple Network. XRP token is primarily used to facilitate cross-border payments, asset exchanges, and remittances on the Ripple Network, with the average cost of a transaction on standing at about 0.00001 XRP.
XRP (XRP) price
Currently, XRP Price is USD. XRP has a circulating supply of coins and a total supply of . If you are looking to buy or sell XRP, Bitforex is currently the most active exchange.
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XRP price prediction 2023
The current market sentiment is full of fear, uncertainty, and doubt (commonly known by the acronym FUD), as fears of FTX contagion mount. At the moment, it’s difficult to assess exactly how much damage has FTX collapse has done to the crypto industry, since some affected crypto companies may be already secretly insolvent due to highly leveraged positions, as we have seen in the aftermath of Terra's implosion.
According to our estimates, it will take months for the full scale of FTX bankruptcy to become clear, so the turning point for the crypto market won’t come before late Q1 to early Q2 2023, although for now, it seems that the industry has absorbed most of the damage.
Another market factor that should be taken into consideration is how successful will be the U.S. Federal Reserve’s efforts to curb inflation. For now, there is reason to believe that Fed is making some progress in its attempts to cool the overheating economy — on November 30, Federal Reserve Chair Jerome Powell announced it’s time to slow the pace of coming rate hikes, which immediately triggered a positive reaction from both crypto and equity markets.
Given the above information, one can easily guess that there will be a considerable divergence between bullish and bearish XRP 2023 price predictions due to multiple unknown factors. For this reason, we estimate that the bullish scenario will see XRP price at $0.58 to $0.71. On the flip side, a fading interest in the new meme coin may push the price of XRP to $0.29-$0.19 lows.
XRP price prediction 2024
In 2024, the global macroeconomic backdrop is likely to be more favorable to the crypto market, adding value to XRP (XRP) and other cryptos. However, the possibility of black swan events similar to the collapse of FTX cannot be completely ignored.
Keeping this in mind, we foresee the price of XRP to climb as high as $0.84, with the more distant prospect of reaching $1.19 in 2024. The bearish scenario is likely to see XRP (XRP) trading between $.076 and $0.69 in 2024.
XRP price prediction 2025
Since it’s practically impossible to foresee what market factors will influence cryptocurrency prices in 2025, this part of our XRP (XRP) price analysis and prediction is based on pure speculation and observation of XRP historical price movements.
Our XRP 2025 price forecast expects XRP to rally towards $1.26 and reach $1.42 by the end of the year. The bearish scenario would see XRP at $1.05 to $.087.
XRP (XRP) price prediction 2026
Looking ahead four years, to 2026, Coinpaper's price prediction for XRP is neutral. In 2026, we expect XRP to reach at least $1.62 before climbing higher to $2.13. In case of a bearish scenario, XRP may fall to $1.48.
Is XRP (XRP) a good investment?
XRP has become a popular cryptocurrency and has gained significant attention from the crypto community. However, as with any cryptocurrency, there is no guarantee of gains and investors should always do their own research and be aware of the risks associated with investing in XRP token. Additionally, Ripple is currently locked in a prolonged legal battle with the U.S. Securities and Exchange Commission (SEC) over the status of the XRP token, so there is a degree of uncertainty surrounding its future use and value.
Bottom line
Are you ready to invest in XRP? Very few if any analysts forecast its value going down to zero, although you can’t be sure these days, so make sure you always do your own research before making investment decisions. And keep in mind that cryptocurrency prices can be extremely volatile, so trading crypto always involves a high degree of risk.
You can buy XRP from many crypto exchanges, including Bitforex
Disclaimer: Coinpaper does not recommend that any cryptocurrency should be bought, sold, or held by you. Always conduct your own research and consult your financial advisor before investing in any digital asset.
FAQs
Who created XRP?
XRP was created in 2011 by Jed McCaleb and Chris Larsen.
What was the all-time high for XRP (XRP) ?
The all-time high price of XRP is $ on 2018-01-07
