Skip to main content

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. 

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Popular posts from this blog

From offchain to offchain: Statechains meets Lightning

  Without a doubt, the most significant off-chain Bitcoin solution is the Lightning network. But in its wake, the statechain has emerged as an intriguing replacement. There is currently a proposal to link the two offchain networks. From an ocean, for example, you can see sunbeams glistening in the water, waves rippling, and possibly a jellyfish drifting toward the light. But you only see a small portion of it. The distance from the sea's surface to its bottom is hundreds of meters. It has dozens of different fish species swimming in it, crabs and starfish crawling on the bottom, shells clinging to rocks, and sea plants climbing up. A completely new world starts where your gaze diverges. You can picture a blockchain like Bitcoin, just like the sea. What you see on the outside is only a small portion of what is actually there; the set of UTXOs (coins) and transaction history that full nodes store are just the beginning of a much larger world. It's the plan, at least. With Bitcoin...

Phishing attack on popular crypto sites tries to empty wallets

  Several major crypto sites such as Etherscan, CoinGecko, DeFi Pulse, and others report malicious pop-ups scammers use to try to trick users into connecting their MetaMask wallets. The phishing attack came from a domain displaying the Bored Ape Yacht Club (BAYC) logo. "We are investigating the root cause of this attack to fix the threat as soon as possible," CoinGecko founder Bobby Ong tweeted. The phishing attack appears to have been triggered by a malicious ad script from Coinzilla, a crypto ad network, according to CoinGecko. Etherscan also advises its users not to confirm any transactions that may appear on the website. The attackers attempted to use the hype around the “bored monkeys” non-fungible tokens (NFT) to gain access to the cryptocurrencies of unsuspecting website visitors. Although the websites affected by the scam attempt have reacted in the last few hours and deactivated the advertising pop-up, it is still recommended not to connect your MetaMask wallet to ne...

Bored Ape Yacht Club NFTs stolen through phishing on Instagram

  Bored Ape Yacht Club ( BAYC ) developers announced on Monday that hackers have hijacked the official Instagram page of the popular NFT collection and posted links to a fake airdrop. Crypto enthusiasts who connected their MetaMask wallet to the rogue website subsequently had their Ape NFTs stolen. Apparently, the attack was planned to coincide with the one-year anniversary of the BAYC collection. This increased the "perceived credibility" of the phishing link. About 100 NFTs are said to have been stolen in the phishing attack . According to CoinGecko data , the minimum price for a BAYC NFT is 139 Ether ( ETH ) or $400,726. So if reports are correct, over $40 million worth of NFTs were stolen in the attack. These numbers are only the lowest estimate, however, as they are based on the lowest price.  At the time of writing, it was still unclear how the hackers gained access to BAYC's official Instagram account. Social media users have pointed out the importance of two-fact...