The price of XRP could be worth up to $2.55 by the end of the year, provided that Ripple emerged victorious from his ongoing legal battle with the US Securities Commission (Securities and Exchange Commission, SEC), according to the average forecast of a panel of experts interviewed by the comparison site Finder.com.
XRP, ranked 7th by market cap, is currently trading around $0.62 and was up 3% in one day and down 2% in one week. It also fell 23% in one month and 54% in one year.
Evolution of the price of XRP:
According to the panel, made up of crypto and fintech industry experts, as well as representatives from academia, the outcome of the legal battle that Ripple and its founders find themselves in will be crucial to the future of XRP as an asset.
If Ripple wins this lawsuit, several interviewees expressed optimism on behalf of the XRP token, saying it could play a bigger role in how financial institutions move money across borders. On the other hand, if the company loses, there will be far fewer use cases for XRP, according to several panelists.
Based on an average of the price predictions given by the panelists, XRP could hit $2.55 in December this year in the event of a Ripple win. Additionally, panelists said that $3.61 was a likely price in 2025, while $2.98 could be within reach in 2030.
XRP price predictions for 2022, 2025 and 2030:
According to Matthew HarryHead of Crypto Asset Manager Funds DigitalX Asset Management, XRP is likely to rise this year, provided Ripple wins its ongoing lawsuit. For the longer term, however, he said XRP is essentially “worthless”:
“The XRP token has no value for anything other than speculation. The underlying technology is great, but the token itself has no use right now. It just attracts speculators because ‘it is cheap and it represents an added value that is easy to digest, which is not the case with the token’.
Likewise, the founder and president of the Bitcoin ATM operator CoinFlip, Daniel Polotskyopined that XRP is based more on hype than actual use.
“I believe XRP offers nothing proprietary compared to its peers to justify its relatively large market capitalization,” Polotsky reportedly said.
According to him, interest in the token is “inflated” due to retail investors simply relying on the token’s low price instead of total market capitalization.
“This is a simple marketing gimmick, but eventually the project’s lack of fundamentals will be reflected in its price as the industry matures,” the CoinFlip founder added.
Others are much more bullish on the fundamentals behind the XRP token. carol alexanderprofessor of finance at theUniversity of Sussexwent so far as to say that XRP could take over as the dominant way to transfer money across borders, if Ripple wins the case.
“It’s not a cryptocurrency like any other. If it wins the lawsuit against the SEC, it could really replace SWIFT [Society for Worldwide Interbank Financial Telecommunication]“, estimated Ms. Alexander.
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