Can XRP Hit $500 or $100? Price Predictions Soar
XRP Price Prediction $500 – Quick Take
To reach $500, XRP’s market cap will be worth $25.9 trillion, which would be higher than the GDP of America today. It would be incredibly impractical for XRP to reach this level. Below we’ll give our detailed analysis on the XRP price prediction $500.
The legal battle between Ripple Labs and the SEC continues with a decision pending after final briefs were submitted. As of writing, all major depositions, briefings and pieces of evidence have been submitted, with the only thing left to wait for being Judge Analisa Torres’ decision.
This post will offer you the latest insights on XRP price prediction $500/ $100 that was being made as of 16 May 2023, and its projected trend from technical and fundamental analysis to price history.
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XRP Overview
CryptocurrencyXRPTicker SymbolXRPRank6Price$0.4243Price Change 24H–1.19%Market Cap$21,995,649,335Circulating Supply51,837,820,505 XRPTrading Volume$750,713,830All Time High$3.84All Time Low$0.002802
XRP Past Performance
Here is how XRP has performed over the past few years:
- 2013: $0.028
- 2014: $0.024
- 2015: $0.0062
- 2016: $0.0064
- 2017: $2.1
- 2018: $0.371
- 2019: $0.19
- 2020: $0.21
- 2021: $0.85
- 2022: $0.33
In 9 years since launch, 4 have been positive and 5 negative.
What Makes Ripple (XRP) Unique?
- Ripple enables financial services through the XRP Ledger and collaborates with traditional financial services companies. XRP is the cryptocurrency that fuels the transactions through the product xRapid(Just like ETH or MATIC)
- Transaction Speeds and Costs that are competitive. Traditional overseas payments take days as compared to Ripple which takes seconds.
- XRP uses a consensus protocol with validators swiftly approving transactions. Validators could be Banks and Financial Institutions. Ripple is more centralized than Bitcoin and Ethereum.
- XRP ledger is used to create cryptocurrency wallets and XRP ledger can also be integrated to create a stablecoin.
- Ripple is a more privately-owned network as coins are released by Ripple directly unlike Bitcoin where coins have to be mined.
- Ripple with its open source and peer-to-peer decentralized platform can be used to transfer money in any form, whether it’s dollars, yen, euros, or cryptocurrencies.
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Current XRP Price Analysis
Just as we predicted before, XRP prices can be volatile before a decision arrives in its lawsuit case.
At the time of writing, XRP is trading at $0.4243 with a market capitalization of $21,995,649,335, making it the 6th largest crypto by that metric. In the past 24 hours, the price of XRP has decreased by 1.19% with a trading volume of $750,713,830.
XRP continues to consolidate just to the north of its 200-Day Moving Average, having found robust support above this key level last week.
But XRP remains stuck within an aggressive downtrend that has been in play since mid-April, meaning that near-term price predictions remain somewhat downbeat.
The price is down nearly 10% this month and down around 27% from March’s highs in the $0.58 area.
Unless the cryptocurrency can break out of its current downtrend, a retest of the 200-Day Moving Average seems likely and potentially even a break below it.
That could open the door to a retest of March lows in the $0.35s.
But with broader cryptocurrency markets gaining some steam on Monday – Bitcoin was last up more than 2% – the potential of a bullish breakout for XRP are rising.
If XRP was able to get back to the north of its 100-Day Moving Average near $0.435 and close above the current downtrend (confirming a breakout), the cryptocurrency that could open the door to a run back to yearly highs, or at least the mid-April highs in the $0.54 area.
One potential catalyst for an XRP surge could be the conclusion of, or rumors of a conclusion of, the ongoing Ripple-SEC lawsuit. Over the past few months, the market has been expecting a quick and positive resolution to the case.
XRP pumped back in March on optimism that Ripple is set to win a favorable outcome in the lawsuit.
While most of that pump has since unwound, a ruling from district judge Analisa Torress on the lengthy lawsuit it expected soon.
Ripple CEO Brad Garlinghouse revealed in a recent interview with CNBC that he thinks the lawsuit will be resolved in the first half of 2023, meaning potentially within the next two months.
Any indications that Torress might rule in favor of Ripple, or that the SEC might want to settle with Ripple, could result in a major near-term pump for XRP, which would very likely print new highs for the year above $0.60.
XRP Price Prediction $500: Factors that May Affect the XRP Price
Top Concern: Ripple vs SEC Lawsuit
The Ripple-SEC lawsuit is one factor that has been an obstacle to the rise of XRP. Since 2018 when the SEC accused Ripple of selling XRP in unregistered security offering to investors in the U.S. and worldwide, XRP has been crashing with decreasing in investor interest.
As we mentioned above, this legal battle is finally expected to end this year, with both parties waiting for Judge Analisa Torres’decision. If the court rules in Ripple’s favor, XRP’s value could skyrocket. However, a ruling against it could send XRP to crash and perhaps never recover again.
So will Ripple win the case? As per the predictions by the top US Attorney, there is a good chance of Ripple winning, in light of all the positive decisions and rulings in its favor it has been able to secure.
For instance, lawyer Jeremy Hogan has argued that the SEC hasn’t really been effective in proving one of the major arguments underlying its case, which is that buyers of XRP entered into an ‘investment contract’ with Ripple when they first bought tokens.
Other positive decisions include Ripple’s winning of access to important SEC emails related to a 2018 speech on whether cryptocurrencies are securities, and also the upholding of the company’s right to use a fair notice defense.
Besides, reports say that SEC and Ripple can agree to a settlement where Ripple could agree to a few conditions for XRP to be classified as a commodity. It means we can expect a compromise solution from both parties.
All these developments have all helped to create optimism within the XRP and wider crypto community, with many people expecting a decision soon. A Ripple victory would potentially enable XRP to become the best-performing top-100 cryptocurrency this year, propelling it back up to $1 before witnessing even bigger gains next year.
On the other hand, if the SEC wins the case, legal experts say Ripple may appeal the ruling, paving the way for a long court battle.
Other factors
- Acceptance of Ripple As a Key Payment Protocol: Ripple has been working to become recognized as a key mode of payment protocol that can enhance international money transfers. The company has further expanded its cross-border payments solution into France, Sweden and Africa. Many crypto experts are of the opinion that Ripple in the coming future could revolutionize the transaction process worldwide. If so happens, the price of XRP could skyrocket.
- Government Regulations: Government regulations around the world has been a key factor influencing the price of cryptos. If the regulations are tightened, the price dips and if there is some favorable decision, the price skyrockets. There government regulations will be one factor that could influence XRP price.
- Drop in Inflation: Inflation may fall below 6% in the next 3 months, will that pump XRP?
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XRP Price Prediction $500: Detailed Analysis
XRP is the 6th largest cryptocurrency with a market cap of $22 billion. XRP price has suffered for a time due to the SEC case against its parent company Ripple. Many bigger exchanges have not listed it due to the ongoing Ripple vs SEC lawsuit.
It seems that investors everywhere are searching for “XRP Price Prediction $500.” No one knows the future but tons of people are talking about XRP. To reach $500, XRP’s market cap will be $25.9 trillion. That is the size of the US GDP today and 6-7 times the market cap of Tesla today. Mathematically and in theory this is feasible. But in reality, this looks extremely impractical:
- The Global Remittance market size is about $19 Billion and lets us for argument’s sake, it rises to $200 Billion in say 20 years.
- There are too many players in the remittance business and it is likely that with increased competition from Ripple, many will offer the same services. So Ripple could be a market leader with the very little share.
- Assum Ripple ends with 25% of the market (highly unrealistic), and it would end with revenue of $50B. Assuming margins of say 50% (unrealistic again), it would end with $25B in earnings. This could translate to a price of about $250.
Of course, it is just fantasy projection in reality. Businesses with these kinds of prices have to be highly monopolistic and given cross-country regulations on money transfers, such market shares are likely to be highly unsustainable.
In short, all these scenarios look unrealistic and far-fetched. Therefore, we would say XRP is unlikely to reach $500. But we do believe that XRP can reach $10 or even $50. Of course, anything can happen in the crypto market, so this is by no means a guarantee.
XRP Price Prediction $100: Can XRP Reach $100 Dollars?
To reach $100, XRP will have to rise 236x. That translates to a market cap of $5.2 trillion (equal to 12x the current market cap of Tesla).
This looks incredibly unrealistic. The global remittance market can support a player with a 5.2 trillion market cap assuming a favorable regulatory environment and competitors not coming up with similar projects.
Considering all these, we believe that $100 dollars is a theoretical possibility but the odds of it becoming real are extremely low if not impossible, irrespective of the SEC outcomes.
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Can XRP Reach $10 in 2023?
Whilst a favorable ruling or outcome to the SEC lawsuit would certainly be a huge positive catalyst for XRP, and would very likely see the cryptocurrency become one of the best performers in the crypto space this year, more than 10x gains to hit $10 per token this year might be an overly optimistic forecast.
That’s because the bull market in the broader crypto markets appears to still be in its infancy.
Yes, macro conditions are set to improve this year, with the Fed’s rate hiking cycle looking likely to already be over.
But cryptocurrencies like Ripple may have to wait a few years and for further fiat currency debasement (via new rate cutting cycles and liquidity injections) to post 10x gains from current levels.
Final Thoughts
Ripple CEO Brad Garlinghouse has said on numerous occasions recently that he expects an end to the case by this summer. With Ripple looking forward to the end of this long-running lawsuit, it may be only a matter of days or weeks before XRP receive another, much bigger boost.
XRP Price Prediction After Lawsuit Win cannot be determined accurately but it is expected that the price of XRP could surge explosively considering the development of Ripple network with the growing acceptance of the Ripple Payment Solution.
This will certainly be the case if Ripple does indeed secure a positive outcome in its case, something which could soon send XRP beyond $1 and on course to recover its all-time high from 2018.
FAQs
Is XRP a good investment for long term?
XRP’s real-world utility as a less costly and more scalable payment makes it better in terms of intrinsic value versus other cryptos. With this in mind, it is wise to say that XRP is a good investment. Make sure to do your own research before investing in any coin.
Where can I buy XRP?
BTCC is one of the best exchanges as it witnesses a large trading volume of the XRP. Other exchanges for buying XRP include Binance and KuCoin.
What are BTCC’s specs?
Sometimes, users feel more comfortable working with an exchange if they know that the exchange has a footprint in the industry. BTCC has over 1.6 million registered users, and it has a trade volume (24H) of $10.86 billion.
BTCC is one of the best known exchange with over 12 years of stable and secure operating history focused on the Bitcoin and Ethereum, offering trading service in US, Canada, and many other countries in Europe. BTCC also supports tokenized futures service, allowing users to trade stocks and commodities futures with USDT as the margin.
Trading on BTCC begins with registration and log in, which only takes 30 seconds. New customers can now sign up here to get a welcome bonus of 10 USDT, and complete the KYC verification process to access all BTCC’s features and BTCC bonus. Once verified, you can start trading XRP now.
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