BTC -3.13%
$64,198.97
ETH -2.71%
$3,519.80
SOL -4.74%
$132.62
PEPE -5.20%
$0.000011
SHIB -3.78%
$0.000018
BNB -3.18%
$586.85
DOGE -1.86%
$0.12
XRP -2.08%
$0.48
Best Crypto Poker
Online

XRP Price Prediction as XRP Pumps 20% Off Recent Lows – Here’s Where Its Heading Next

Joel Frank
Last updated: | 3 min read
Can XRP break above its downtrend since November 2021? Source: TradingView

XRP Bullish Momentum Wanes

XRP, the cryptocurrency that powers Ripple’s global payments system, was last trading lower by about 3.4% on the day on Wednesday, or by about 1.4% in the last 24 hours. 

Wednesday’s losses have seen XRP/USD slip back into the $0.37s and under the 21 and 200-Day Moving Averages (DMA) at $0.388 and $0.389, respectively. 

XRP is for now finding support at last week’s lows in the $0.372 area, but price predictions have become less bullish since the cryptocurrency failed to maintain its late-November uptrend and to sustain a clean break above its 200DMA.

XRP momentum wanes. Source: TradingView

But XRP is still about 20% above its mid-November lows in the $0.32 region that was posted in wake of the FTX crash. 

Technical bullish momentum might have waned, but bulls will be hoping that a “Santa rally” can lift optimism into the year-end, especially if things continue to look favorable for Ripple in its ongoing lawsuit versus the US Securities and Exchange Commission.

Price Prediction – XRP to Surge Above This Key Downtrend on Favorable Lawsuit Outcome

Analysts think that summary judgment in the Ripple versus SEC lawsuit, where the latter is accusing the former of selling XRP as unregistered securities, could come as soon as the end of Q1 2023. There is also the possibility that the SEC, facing defeat, might want to settle with Ripple at a sooner date.

It seems likely that in the case of a favorable outcome where XRP is not deemed as a security, XRP could quickly surge back to test its September 2022 highs in the mid-$0.50s per token area. This has been a key area of support/resistance going back to June 2021.

A breakout to this area would mark a break above a downtrend that has been capping XRP price action going all the way back to November 2021, when broader cryptocurrency markets saw their post-pandemic peak. That would be a key development technically and could herald the end of the 2022 bear market. Bulls might start targeting an eventual retest of all-time highs near $3.30 per token.

Can XRP break above its downtrend since November 2021? Source: TradingView

But broader cryptocurrency market conditions will also need to improve if XRP is to get back to record highs. So long as markets remain fearful that an inflation-focused US Federal Reserve might over-tighten with rate hikes, thus potentially sending the US economy into a harsh recession in 2023, risk appetite may remain ropey, limiting crypto’s upside potential.

Dash 2 Trade (D2T)

Those interested in investing in a promising crypto trading platform start-up should look no further than Dash 2 Trade. The up-and-coming analytics and social trading platform hopes to take the crypto trading space by storm with its host of unique features.

These include trading signals, social sentiment and on-chain indicators, a pre-sale token scoring system, a token listing alert system and a strategy back-testing tool. Dash 2 Trade’s ecosystem will be powered by the D2T token, which users will need to buy and hold in order to access the platform’s features. 

Dash 2 Trade is currently conducting a token pre-sale at highly discounted rates. D2T token sales recently surpassed $8.94 million. The sale has now entered its fourth and final phase and the pre-sale dashboard is going to be released soon, with the development team currently running ahead of schedule. 

Visit Dash 2 Trade here

IMPT

Amid the growth in popularity in recent years of environmentally and socially friendly investments, investors looking for a green cryptocurrency should consider the IMPT token. IMPT.io has partnered with thousands of the world’s largest retailers to help offset their carbon footprints and allows users to trade carbon credits on the blockchain.

IMPT tokens are currently in their second stage of the presale with IMPT having raised over $14.7 million. That amounts to $300K in token sales in just the last 24 hours. Investors only have another four days to purchase tokens at the current discounted price of $0.023. IMPT token exchange listings begin in seven days. 

Visit IMPT Now

Calvaria (RIA)

Major blockchain-based games like Axie Infinity lost significant traction in 2022. As a result, many investors interested in the crypto gaming space are looking for alternative avenues. Calvaria, an up-and-coming play-to-earn battle card crypto game, could be a good alternative. Calvaria seeks to boost crypto adoption by creating a bridge between the real world and crypto, a fun and accessible crypto game.

Investors should consider Calvaria’s RIA token pre-sale. Calvaria has now raised $2.23 million and is in the final stage of its fundraising process. Only 28% of pre-sale tokens remain up for grabs.

Visit Calvaria Now