The crypto market increased by more than 10% in the past week. However, XRP price is lagging as its performance during that same timeframe remains in the red. XRP prices are known to lag, and usually follow the market’s direction. That’s why most eyes are set on XRP as its price lingers below the 40 cents price mark. Will XRP go up soon? What are XRP targets in 2023? Let’s analyze in this XRP price prediction article.
Why is XRP not going up?
The crypto market started its recovery as 3 US banks announced their bankruptcy. Even the US government had to intervene to hedge the US economy’s total collapse. This led to people realizing the power of “being your own bank” and investing back in cryptocurrencies. Bitcoin recovered from its low of $19,800 and reached the current price of $24,600.
XRP on the other hand is still lingering around $0.36 with no sign of a comeback, yet. In fact, XRP was always known to be a lagger. When the crypto market moves, XRP takes some time in order to follow. This is the case of what’s happening today. Additionally, Ripple had some exposure in the banks that collapsed, which explains why XRP prices did not skyrocket like other altcoins.
XRP SEC Updates: Anything new with the XRP Lawsuit?
There is currently no news regarding any update in the XRP SEClawsuit. The CEO of Ripple was positive towards a win in the case, and most of the filings were going in a good direction. The resolution of the case is set to happen somewhere between Q3 and Q4 of 2023.
XRP Price Analysis: Will XRP go up?
The crypto market needs to confirm its uptrend before XRP follows. Once Bitcoin establishes well above $25,000, XRP can in turn break the $0.40 price mark and continue to reach higher targets.
For now, the market as a whole is awaiting a confirmation whether this price explosion in cryptos happened as a quick reaction to fundamentals or because of a stronger buying power that would lead to higher crypto prices.
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