Is it too late to buy XRP? Crypto experts give their XRP price predictions
Things are not looking good for XRP. At least it is from a technical perspective. As for Ripple’s ongoing lawsuit against the US Securities and Exchange Commission, which accused the global crypto payment company of selling XRP as an unregistered security, no one knows what will happen next. The judge presiding over the case is expected to rule by the end of this quarter on whether or not the case will go to trial, and XRP bulls hope that Ripple may be able to force the SEC into a settlement.
In terms of XRP’s technicals, the cryptocurrency’s ongoing decline since posting yearly highs in January in the $0.43 range raises the prospect of a retest of the 2022 lows in the $0.30 range. XRP/USD last changed hands in the mid-$0.36s, down another more than 2.0% on Monday, taking its losses for the month to just 10%. Price predictions thus become more pessimistic.
XRP is falling in line with the broader cryptocurrency market, which is weighed down by concerns about the SEC’s latest regulatory actions against BUSD stablecoin issuer Paxos. The cryptocurrency’s upside has been capped by a downtrend since last September and has bottomed in the $0.30 range twice since then. A repeat of history looks like it could be on the cards.
Crypto experts give their XRP price predictions
The average XRP price forecast from a panel of 55 fintech experts surveyed by Finder.com in late December sees XRP reaching $3.81 in 2025 if Ripple achieves a favorable outcome in its lawsuit against the SEC (ie the judge dismisses the case, it’s a settlement or Ripple secures a clean win). If Ripple achieves an unfavorable outcome, it will rise to just under $1.0 by 2025, according to the average price prediction given by panel members.
According to Tradercobb.com’s Craig Cobb, one of the experts surveyed by Finder.com, “the crypto market loves to jump on a bandwagon, and XRP winning its case in a bear market could likely see herd mentality that will pump the price of this old-school top- 10 coin.” The panel was split on whether it is a good time to buy XRP, hold it, or sell it.
27% said XRP is a buy, 38% a hold and 36% a sell. Finder.com quoted Martin Froehler, CEO of Morpher as saying that if Ripple wins, “it’s a big win for the entire crypto industry”. Froehler gave one of the survey’s more optimistic price predictions, targeting $5 by 2025 if XRP wins against the SEC.
Is it too late to buy XRP?
Asking if it is too late to buy an asset is never the right question. The answer is always never. The right question is whether an asset should be bought or not. And it depends on how an investor assesses his long-term outlook for price development.
If you consider XRP likely to rise significantly in price over the current years, based on your own research, it is probably worth buying something. If not, stay away.
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XRP Alternatives to Consider
As discussed above, XRP’s short-term outlook is mixed. Traders looking for quick gains may prefer to consider other tokens with high potential, such as those sold in pre-sales promising upcoming crypto projects. We’ve reviewed some of the top contenders in this list of the top 15 cryptocurrencies for 2023, as analyzed by CryptoNews Industry Talk team.
The list is updated weekly with new altcoins and ICO projects.
Disclaimer: The Industry Talk section contains insights from crypto industry players and is not part of the editorial content of Cryptonews.com.
