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Biggest sleeper on the crypto market – could the XRP coin soon be worth $100?

 


What is the XRP coin?

The XRP coin is a cryptocurrency that is responsible for transactions within the Ripple payment network. Ripple is a sophisticated payment system that was developed for large banks. It should make payments between different payment areas easier and more efficient. 


Ripple

XRP is not a cryptocurrency in the strictest sense, as the coin is not controlled decentrally. Ripple owns a large part of the XRP to ensure liquidity in the network at all times. About 55% of the total coins are held by Ripple Labs, the company behind the payment network. Nevertheless, the XRP has seen massive interest from private and institutional investors in recent years, causing the price to rise sharply. 

Right now we are in the middle of a bear market . All cryptocurrencies are having a hard time during this time. The XRP price also fell sharply during this time. In the last bull market, the coin was not able to reach the prices it saw in the previous bull market in 2017 and early 2018. The XRP price reached $1.82 in April 2021. The all-time high from early 2018 was $3.84.


In 2022 we saw sharp drops in price. So in mid-June we only saw a price of 0.31 dollars. XRP has lost more than 80% of its 2021 high. However, after stabilizing in the third quarter, the price rose again in mid-September to a value of up to 0.53 dollars and has been able to remain in this price range in recent weeks. 

In the last bull market, most major cryptocurrencies saw new all-time highs that are significantly higher than the all-time highs from previous bull markets. Ripple's XRP coin was a clear exception among the top 10 cryptocurrencies by market capitalization. What were the reasons for this development?


The XRP coin is the exception because there is one major event or process that prevents further price increases. The company Ripple Labs has been in a legal dispute with the American stock exchange supervisory authority SEC for about 2 years. In this article you will learn more about the process. 


Litigation SEC

The court case is arguably the event that most impacts the price of a cryptocurrency . Due to the uncertainty of the legal dispute, the investments in the coin are much lower than possible. As long as this litigation is still active, there is some uncertainty surrounding Project Ripple, which continues to put off certain investors. 


Why does Ripple have such massive potential?

Investors already assessed the potential of Ripple so strongly in 2017 that the XRP coin was sometimes even the number 2 most valuable cryptocurrency by market capitalization. It was the last time that Ethereum was not at number 2 behind Bitcoin. 


Despite the legal difficulties, Ripple has no difficulty finding new partners and thus expanding its network of partners. Ripple recently announced that it had found new partners in Lemonway in France and Xbaht in Sweden. Ripple has been expanding its network for years. 



The potential for Ripple around the world continues to be huge. Innovative, efficient and secure payment solutions are a topic for the future. If Ripple were to win the lawsuit, worries would be settled and the entire crypto world could celebrate a victory against regulators trying to overstep their authority. 


What is the status of the litigation? 

In recent months, Ripple has consistently achieved stage wins against the SEC. So far, observers have only seen two possible outcomes : 


Ripple is proven right and all allegations by the SEC turn out to be false.

An agreement is reached behind closed doors and the legal dispute is ended. The SEC should massively accommodate Ripple Labs.

It seems clear for months that the SEC only wants to prolong the process. Ripple, on the other hand, is actively fighting for a complete clarification of the facts.


Ripple recently got the SEC to publish the “Hinman files”. Former SEC Director William Hinman stated in 2018 that Ripple is sufficiently decentralized to not qualify as a security, which the SEC accuses the network of. 


Will the XRP coin explode after the legal dispute is resolved?

According to most analysts, we should see massive price gains in the XRP coin in the short and long term following a Ripple victory in the legal battle. At the moment, XRP is considered massively undervalued at its current price of $0.46 (as of 10/23/2022). 


Ripple

It could happen that the price could rise massively as early as 2023 and reach a value of over 1 dollar again. Because in 2023 it is also likely that the overall market will become more bullish again. After the Bitcoin Halving 2024, we should be able to see further price explosions in the coming bull market.


Can XRP Coin Surpass $100?

It will certainly take a few more years and several strong price rallies for a rise to $100. But the XRP could actually be the cryptocurrency from the top 10, which can see another increase of 100x or more in the next few years. 


The cryptocurrency is currently so massively undervalued due to the legal dispute with the SEC that even in the bear market strong increases are still possible. The price jump in September showed this potential. Already in the next bull market, probably in 2024 and 2025, we could see prices above $10 for XRP. 


Is it worth investing in the XRP coin now?

An investment in the XRP coin could be massively worthwhile at the moment. The price is still being held back by the ongoing legal dispute. After the termination, the prices should rise massively. Now the low prices are probably worth it.


However, we have to mention that XRP as a cryptocurrency is still a risky investment and increases can never be guaranteed. However, among the cryptocurrencies, the Ripple project is extremely powerful and solid. The slight risk could be worthwhile for you as an investor in the next few months. 

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