December seems to be a quiet month for cryptocurrencies. Most crypto prices were consolidating as Bitcoin and Ethereum hovered around $17,000 and $1,250 respectively. Ripple however is looking positive despite many hearsays. The SEC case is looking for a resolution in Q1 of 2023. On the other hand, XRP prices did not make any bold move yet. In this Ripple price prediction, we’re going to forecast XRP prices before January 2023.
XRP SEC updated: What’s happening with Ripple and SEC?
The SEC received a settlement proposal on November 25 during a status conference on November 21. The parties met to discuss the terms on Nov. 29, following the filing of the settlement plan, but they were unable to agree on the regulator’s recommended remedies. Due to its precarious financial circumstances, LBRY requested an expedited briefing schedule, which the court has already approved.
When Will Ripple Settle with the SEC?
According to Ripple CEO Brad Garlinghouse, the legal dispute could last another three to four months until it is resolved in the first half of 2023. He also said that Ripple would discuss a settlement if the SEC agreed that XRP is not a securities.
Ripple gained a little triumph when the SEC was forced to hand over the “Hinman papers,” which were traded on October 20. The majority of them center on a speech in which a former SEC director claimed that ether (ETH) was not a security.
XRP Price up: Will XRP reach 1$ before 2023?
Short answer: no. The crypto market is not likely to double in market cap within 3 weeks or even less. The crypto market is currently in consolidation mode. If the market was to increase in prices, we expect that XRP reaches at best around 45 cents. In figure 1 below, we can see how the 31 cents price mark represented a strong support area for XRP prices.
After a quick rebound from that support, XRP should reach by the end of 2022 the price area around 45 cents and 50 cents.
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