The price of XRP remains a hot topic, with the ongoing legal battle between Ripple and the US Securities and Exchange Commission (SEC) anticipated to be resolved at some point in 2023. The SEC alleges that Ripple’s sale of XRP tokens constitutes an unregistered securities offering, which Ripple denies.
The outcome of this case is significant not just for Ripple but also for XRP investors. A negative ruling could result in XRP being classified as a security, leading to regulatory scrutiny and potentially affecting the price of XRP.
As we move into 2023, the Ripple-SEC case is expected to reach its conclusion, and many investors are wondering what impact it will have on XRP’s price. To shed light on this issue, Finbold has consulted leading financial experts to get their predictions for XRP’s value by the end of 2023 and the potential implications of the SEC ruling.
Investment analyst – Tim Doman
Investment analyst Tim Doman noted the ongoing lawsuit against Ripple Labs, which has significantly impacted XRP’s price.
However, the analyst noted.
“Recent court rulings seem to favor Ripple, leading to positive market sentiment. XRP has some great qualities, like being an excellent bridge between currencies, open-source, permissionless, and carbon-neutral. Plus, transactions on the XRPL settle in just 3-5 seconds, which is impressive.”
Doman mentioned the Balmain and Lotus partnerships, which he believes could open up new possibilities for XRP, introducing fashion and automotive NFTs to the XRPL, which “might boost XRP’s value in the long run.”
“XRP’s average price prediction for November 2023 is around $0.5, which isn’t bad. And the highest possible price? About $0.54. While the lawsuit and market volatility create uncertainty, XRP has strong fundamentals, so we might see growth by the end of 2023.”
CEO of Retirement Investments – Donny Gamble
Donny Gamble has highlighted several reasons why XRP may experience growth in the future. Firstly, the XRP development team has been working to enhance its technology and establish partnerships with major financial institutions worldwide, which could increase its adoption as a payment method. This, in turn, could be a significant driver of growth for the asset.
Secondly, XRP’s scalability is an advantage when compared to other cryptocurrencies, which will become increasingly important as demand for cryptocurrencies continues to grow.
Finally, he notes that Ripple is expanding its user base and partnerships he stated:
“This could open up more opportunities for XRP to be used in mainstream applications, which would help propel its growth going forward.”
HardBlock Founder & CEO – Daniel Wilczyinski
According to Daniel Wilczyinski, the Founder and CEO of HardBlock, several key factors will determine the future of XRP. One of the most significant is the resolution of the SEC lawsuit, which could have a major impact on XRP’s price.
He also noted:
“Increased adoption by financial institutions and favorable regulatory developments could boost its value. However, the competitive landscape and overall market sentiment will also play crucial roles.”
AI end of 2023 prediction for XRP
The projections made by CoinPriceForecast, the finance prediction platform that uses machine self-learning technology, indicate a significant increase for XRP by the end of 2023, as per data retrieved by Finbold. The forecasted artificial intelligence (AI) price prediction at the end of 2023 was $0.49.
At the time of writing, the price of XRP is trading at $0.4292, representing a 1.17% increase over the past 24 hours. However, over the previous week, XRP has seen a 6.50% decline in value.
The decrease in price over the previous week may be the result of several factors, volatility in the broader market, and negative sentiment towards XRP, which has seen Bitcoin lose as much as 10% of its value in 7 days.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.