XRP Price Prediction - Is an Upswing to $1 Inevitable?
After a scary period of being investigated by the SEC, Ripple is finally seeing a lot of positive news. How are they going to impact XRP price?
XRP has been in a strange position for the last few months. In December, the SEC announced that they would be investigating Ripple for its actions regarding XRP, and this news hurt the price of the asset, dragging it to $0.17 at its worst. During that time, XRP’s future seemed deeply fraught and unsure, causing many traders to jump ship. However, in mid-February, XRP received some good news, as the SEC amended their lawsuit against the company. These amendments are minor, changing very little. But, they are significant in the sense that the SEC had years to prepare for this lawsuit, and then only after two months decided to make changes to it, making themselves seem unprofessional. Since this news, XRP has been soaring in price, reaching $0.62 on February 22nd. This has left people asking whether XRP will reach $1.00 anytime soon and whether it could even return to its all-time high of $3.84.
XRP price prediction
XRP is in a good position, especially when you consider that its price at the start of January was $0.22, and by February 22nd, it was at $0.62. That is a 180% increase in value in less than two months. An upwards trajectory of that magnitude is extremely promising for the future. It is especially impressive when you consider that it managed to reach these prices during a major investigation by the US’s largest financial regulations body. If XRP manages to beat this case, then there is no saying how high it could rise. Without the pressure of the SEC, there is nothing stopping XRP from climbing to $1.00 and above.
Note, however, that XRP has a very high market cap compared to its relatively low price, so the chances of it reaching heights similar to Bitcoin or Ethereum are extremely slim, as higher market caps make it harder for assets to shoot upwards in value.
February 1st Pump and Dump
On February 1st, XRP was subject to nefarious crypto trading strategies. Some malicious communities chose to artificially push XRP’s price as far as possible for a brief period, known as a pump and dump. These communities managed to bring the price to $0.75 before letting it fall to $0.38. This activity may not be reflective of XRP’s price movements, but it does reveal something fundamental about XRP’s potential. The pump and dump showed the world that it is possible for XRP can reach prices of $0.75 within this bull market, proving that it could do so again naturally.
XRP’s track record
During the famous 2017/2018 bull market, XRP reached a staggering $3.84, its all-time-high. Since this moment, people have been left asking whether it could happen yet again, and considering this 2020/2021 bull market seems even more expansive, now could certainly be the time. Arguably, the main thing holding Ripple back is its legal troubles, but considering the SEC’s decision to make amendments to their case, it may not have so much of a negative impact. However, the partners it lost it probably lost for good until it comes clear from under the SEC’s shadow.
The XRP price reaching $1.00 seems extremely likely considering the asset’s trajectory for the year, the bull market as a whole, and the possibility of the lawsuit swinging in its favor. If this does happen, then traders will want to take part in such activity, and in many cases, the best way to do that is via a crypto trading app that algorithmically explores the market to find opportunities like this; such as the OSOM Crypto Autopilot.
Would you like to be notified about new posts?
February has been a spectacular month for crypto, following in the footsteps of January. Let’s take a look at the statistics for the market as a whole and then explore a couple of the top crypto gainers and losers.