Ripple (XRP) Price Prediction: Is It Dead?

XRP Price Prediction

 XPR price prediction Based on the premise of a rate hike around May 4 and the possible favorable resolution of the aforementioned demand, a short and medium-term analysis of the XRP price can be carried out.

We can expect a pullback to the $0.5 zone in the coming days. This is because it is possible that before the interest rate hike the markets will fall, dragging the entire cryptocurrency market with them.

 

Assuming the markets recover from the news of the spike and the SEC lawsuit is resolved in the next couple of months, we could see the cryptocurrency market and more particularly XRP take off. Due to these fundamentals, we place 3 objectives at the price of Ripple for this year 2022:

• First target: $1.34. This target is the most conservative and would simply need a short alt season with Bitcoin hovering around $50,000 to achieve it. Not even a favorable resolution of the lawsuit would be necessary.

• Second target: $2. This goal is somewhat more difficult to achieve. XRP would need either a Bitcoin rally to all-time highs or good news coming from the SEC. However, it is very likely that this goal will be achieved.

• Third target: $3.84. This price corresponds to the historical maximum of XRP. For this, the market capitalization of cryptocurrencies must increase a lot and add to the good news around the demand. It is a price that XRP will undoubtedly reach in the long run. However, we believe that it is practically impossible for this objective to be achieved this year.

Should you buy XRP?

The investment risk in XRP is higher than that of other cryptocurrencies. If all goes well, it can be very beneficial but, however, having lost strength against other projects and with existing investment opportunities, it is a somewhat complicated decision.

On the other hand, if after studying the SEC case you are confidently expecting a favorable resolution for Ripple, then perhaps you can consider buying XRP which, without a doubt, is a great project diminished by US legislation.

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