XRP Price Prediction: Ripple XRP Highly Undervalued Crypto?
XRP price prediction suggests that Ripple XRP is the most undervalued crypto in the entire cryptocurrency market, and the next bullrun could push the XRP price to $1,000.
Currently, XRP/USDT trading at $3641 with an intraday loss of 0.74% and 24-hour volume to market value of 0.043
The Ripple SEC lawsuit began in December 2020 when the SEC sued Ripple Labs, alleging that the company and its executive sold XRP cryptocurrency to investors without registering as a security.
Since then, XRP prices have lost the charm of top cryptocurrency and traded into the wide range. However, it is true that in 2021, XRP prices have also risen and investors have generated a decent return on investment. Later, The Ripple XRP vs SEC disturbed the sentiment of its real investors and the majority prefer to exit at higher levels due to the uncertainty and legal issues.
XRP price is undervalued and could reach 1000 USD ?
The XRP price is down 59% in the year 2022, which is due to many factors, such as the crypto bear market, FTX collapse, etc., but one of the main factors that hurt the price is the US Securities and Exchange Commission (SEC) and Ripple Labs lawsuit will not be solved. However, in this year 2023, the CEO of Ripple expects the problem to be finally solved.
When XRP Price Gets Out of Range?
XRP price prediction is definitely bullish in the long term due to its super cool business model and of course XRP is ranked 6 crypto for its market cap. If we dive into the technical analysis, it seems that XRP prices are stuck in the large range between $0.3000 to $0.5000 and will likely break on both sides, possibly after the SEC vs Ripple issues are resolved .
However, XRP bulls have tried several times to hold the price above the 50 and 200 day EMA but were rejected showing that the short-term trend is still in the grip of the bears. Therefore, if a pullback rally is seen, $0.4342 will act as an immediate barrier level for the bulls.
Meanwhile, the technical indicators of XRP such as the MACD had generated a negative crossover indicating mild bearishness, while the RSI at 37 falling indicates that the price may soon enter the oversold zone. However, if the downside continues in the coming months, $0.3314 and $0.3000 will prove to be a key demand zone for the bulls.
Conclusion
XRP price prediction remains very bullish in the long term and it may reach $1,000 in 2023, but in the short term, Ripple’s XRP is in the bear grip. The technical analysis shows that the prices are close to the oversold zone and XRP can trigger a relief rally at any moment to clear the short sellers.
Technical levels
Resistance levels: $0.4342 and $0.4979
Support levels: $0.3314 and $0.3000
Disclaimer
The views and opinions expressed by the author, or any person mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional money exchange systems. She is also fascinated by the blockchain technology and its function.
