For some time, the Ripple network’s XRP coin has been one of the most enticing, but also one of the most controversial, coins on the crypto market. Above all, the legal fight with the US Securities and Exchange Commission (SEC) is attempting to undermine investor faith in the project. But how might the XRP price move in the coming weeks, and what is the XRP forecast for February? Can XRP reach $10? Let’s take a look at it in more detail.
How has the XRP price moved in the last few weeks?
Can XRP reach $10: XRP/USD Weekly chart showing the price – GoCharting
The XRP price has seen a sharp rise in price in recent weeks and, like many other altcoins, was able to benefit from the Bitcoin rise in January. The XRP price has increased from $0.34 to $0.41 in the last 4 weeks. While this increase was significant, it wasn’t as sharp as most other altcoins’ price increases. At the time of writing this, the XRP price is trading at $0.4016.
In the first few days of the new year, the XRP price moved almost sideways. The price could shoot through the roof by the middle of the month. Following a period of stability, we saw another rally to more than $0.40 last week. It has only been going sideways for a few days.
Why could the price of XRP rise so slowly?
When we compare the price development of Ripple’s XRP coin to the price developments of other major altcoins, we can see that the XRP price cannot rise as much as it could. This could be because many investors are skeptical that the XRP coin will be able to maintain its current value in the future.
It is difficult to predict how the price will unfold in the coming months due to the legal dispute with the US Securities and Exchange Commission. If Ripple is found to be engaging in illegal securities trading, the XRP price could plummet.
What is the prediction for Ripple (XRP) in February 2023?
Following the recent small increases, we’d like to make a Ripple (XRP) forecast for February 2023. Will XRP continue to rise, or will the prices have to accept significant losses in the coming weeks due to a crash?
It is difficult to predict which way the market will move in the coming weeks. Because prices have stabilized and there have been stronger sideways movements in recent days. However, the Bitcoin price has been able to break out again in the last few hours, which could favor a positive Ripple (XRP) forecast for February.
Can XRP reach $10?
Can XRP reach $10? Since we have already mentioned how uncertain the next few weeks could be on the crypto market, we want to set up 2 scenarios for the Ripple (XRP) forecast:
Today is the first day of the 118th Congress. While prior efforts at regulatory clarity for crypto in the US have stalled, I am cautiously optimistic that 2023 is the year we will (finally!) see a breakthrough. A thread on why…
On the other hand, most analysts believe the lawsuit will be resolved by the beginning of the second quarter of 2023. Things were supposed to be resolved earlier in Q4 2022, but they were pushed back and dragged. The CEO of Ripple, on the other hand, is upbeat and optimistic about the lawsuit’s outcome.
https://twitter.com/FilanLaw/status/1618313473599115264?s=20&t=uLh1CbpZnmWWQ5xejr54Tw
James K. Filan is a defense attorney who is closely following the SEC lawsuit against Ripple. He has provided the most recent update in the ongoing SEC complaint against Ripple, stating that the “Investment Banker Declarant” has responded to Ripple’s opposition to an earlier move to keep his identity, title, and employer private.
Based on the SEC’s schizophrenic argument regarding what constitutes the common enterprise in the @Ripple case, there’s a possibility Judge Torres could deny summary judgment and rule that there is a genuine issue of material facts as to the existence of a common enterprise. https://t.co/3Vo9wGFRed
With the verdict still unknown, legal experts are speculating on the possible outcome and its consequences for the cryptocurrency market. One constitutional lawyer, John Deaton, the creator of Crypto Law, remarked on the case, outlining the SEC’s “schizophrenic reasoning” in the Ripple scenario and choosing to believe that the judge in the case could reject default judgment.
Particularly, a widely accepted venture is a crucial consideration when deciding whether or not a financial product is a security. Amazingly, Deaton had anticipated that the case would be resolved. According to the attorney, Ripple and SEC are likely to reach an agreement even after the directed verdict to prevent further appeals. So, if the outcome is in the favor of Ripple then the XRP has all the potential to reach $10, and if not then it will be very difficult fo XRP to touch that mark.
Can XRP reach $10?: Is an investment in the XRP Coin worthwhile?
As a result of the legal dispute with the SEC, the XRP coin has evolved into a very dicey cryptocurrency. Because a guilty verdict would severely erode trust in Ripple and could cause the XRP to crash.
As a result, the price is difficult to predict. Furthermore, our Ripple (XRP) prediction indicates that the market could move in a wide range of directions in the coming weeks. As a result, for the next few weeks, recognize the XRP coin based on speculation investment.
Can XRP reach $10?: How to Buy XRP?
Many exchanges sell the XRP token. Taking into consideration the biggest, here’s a list that we at CryptoTicker recommend:
If you are trading CFDs, eToro is a good alternative to buying the actual tokens and trading the price differences instead of worrying about the safekeeping and security of cryptos.
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