According to CryptoPotato, XRP is currently trading around $0.52, with some analysts predicting potential rises to $5.85, $18.22, and even up to $100. However, these extreme targets are considered unlikely. The ongoing lawsuit between Ripple and the SEC significantly affects the asset’s price, with Ripple's partial court wins boosting optimism for a potential bull run.
Despite a brief price surge above $0.70 in mid-March, Ripple’s XRP has not positioned itself among the best-performing cryptocurrencies this year. It currently trades at around $0.52, which is a minor increase compared to the figure witnessed a month ago. Numerous analysts believe the asset can break out of its current price position and head toward somewhat outrageous targets. One such analyst, Dark Defender, believes XRP can rise to $5.85 and later to a whopping $18.22. Earlier this year, the analyst set an even more ambitious target of $20, while EGRAG CRYPTO warned the XRP army to “stay steady” since a price “ignition” might be on the horizon.
One of the most bullish price predictions this year was outlined by JackTheRippler, who forecasted an ascent to a whopping $100. However, none of these can be compared to CryptoBull’s analysis from 2023, suggesting that XRP may skyrocket to a staggering $470 sometime in the future. This level would most likely remain a mirage since the asset’s market capitalization should explode above $200 trillion for this to happen. Currently, the entire market cap of the crypto industry stands at “just” $2.5 trillion.
The lawsuit between Ripple and the SEC is considered a major factor contributing to XRP’s price movements. The case, which started in December 2020, recently entered its trial phase, and some view the US SEC as the underdog due to Ripple’s three partial court wins secured throughout 2023. The legal battle has undergone numerous developments recently, and both parties now expect the judge’s ruling. A decisive victory for Ripple may resonate into a bull run for XRP, while the opposite scenario could halt the asset’s upward movements as it did back in December 2020 when the agency initially went after the company.