Over the last month, a number of XRP price predictions have dominated crypto headlines. Some of these predictions have been greatly exaggerated, but there have been some that have come up on the more realistic side. Whether or not these XRP price predictions have been probable, there are some merits to actually paying attention to them.

XRP Price Predictions Signaling Investor Outlook

Price predictions are not new to crypto and they can often be a way to gauge how investors, especially traders are looking at a cryptocurrency. In recent times, the focus has mainly been on the XRP price, and with most of the predictions being bullish, it indicates widespread bullishness across the community.

A good portion of this bullishness can be attributed to Ripple’s win over the US Securities and Exchange Commission (SEC) back in July. Following the ruling, the price of XRP jumped over 60%, reaching its highest point in a month.

Even though the US SEC has contested Judge Analisa Torres’s ruling and filed an interlocutory appeal, it has not eliminated the long-term bullish outlook for the XRP price. This is because multiple legal experts have talked about the SEC’s interlocutory filing and the consensus has mainly been a low chance of success.

Additionally, if Ripple were to emerge victorious in the interlocutory appeal as well, it would cement XRP’s status as a non-security. This would bolster the already renewed fate and signal the entrance of more institutional investors into the asset.

Looking At Some XRP Predictions

Some XRP price predictions have been more realistic than others and those take precedence in this report. One of those is the 1,100% surge predicted by crypto analyst Dark Defender, who put the altcoin’s price at $5.85 in a couple of years.

However, one analyst believes that the XRP price could rise as high as $25 following a 5,000% surge. While another analyst Oaksacorn put forward one of the most bullish predictions of XRP rising to reach the $250 level.

For Wells Fargo Manager Shannon Thorp, XRP is primed for even greater heights. Thorp points to Ripple’s rising prominence in the cross-border payments sector and as the sector is expected to reach $250 trillion, she believes this could drive the XRP price to $500.

All of these forecasts have varying timeframes for when the analysts expect them to play out. However, one thing they have in common is general bullishness toward the XRP price, especially when put into the perspective of long-term performance.

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Filed under: Bitcoin - @ October 3, 2023 11:00 pm