In a repeated scenario, XRP shot as high as 10% in 1 week after lagging for a while. Compared to the cryptocurrency market, XRP was considered undervalued when the entire crypto market already recovered from the China Ban. Earlier this year, XRP almost reached 2$ but crashed soon after with the entire crypto market. Where is the price of XRP headed towards in 2021? In this XRP Price Prediction, we’re going to see if XRP can hit 2$ before 2022.
XRP Price is back on an Uptrend?
Earlier this year, XRP prices were going on an uptrend alongside the entire crypto market. Prices almost reached USD 2, but later crashed hard. This fall in prices was overdue, as the market needed a price breather. From profit-taking to bigger selling pressures, prices were bound for an adjustment.
On the other hand, XRP had a worse starting performance compared to its peers. In fact, Ripple company was still dealing with the SEC lawsuit that took a heavy toll on XRP. Investors preferred to jump ship and look elsewhere when it came to crypto investing. That’s why we notice a lag in prices whenever there’s a crypto trend.
After an extended consolidation, and when talks about a settlement for the SEC case surfaced, XRP prices increased significantly. From a low of USD 0.52 all the way to almost USD 1.4, XRP prices increased by 170% within 3 months!
XRP Price Prediction – Will XRP reach 2$ before 2022?
Seeing how prices managed to gain in such short timeframes, it is safe to assume that prices can easily reach 2$ before 2022. However, this XRP Price Prediction assumes 3 main price drivers:
- The overall crypto market is on an uptrend
- No negative fundamentals affect cryptos on a macro level
- Ripple company is on a good track regarding its SEC lawsuit
From the above assumptions, we have two macro events and one micro factor affecting Ripple company directly. Now XRP haters are definitely in for a big shout. This clearly puts Ripple under the spotlight, showing how XRP prices are directly affected by its main company, rendering the “decentralized” argument weaker.
From a technical perspective, on the other hand, XRP prices need a heavy lift from the above fundamentals in order to be able to reach 2$. In figure 3, we can clearly see how prices need to break the strong price area of USD 1.4 before continuing towards 2$. If this happens, investors should be wary of heavy price adjustments following this huge price increase.
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