XRP Price Prediction – Can XRP Hit $4 By 2023?
XRP continued its bullish trend over the weekend – although it suffered a sharp sell-off on Monday before finding support.
The seven-day chart is still extremely bullish, with XRP up 16% compared to this time last week and 45% over the past month.
XRP had been as high as $0.54 in the early hours of Monday before a retraction to its current price of $0.5158.
Trading volume for XRP remains huge and trails only Bitcoin, Ethereum, and the three largest stablecoins (USDT, USDC, and BUSD).
While the overall crypto market was down by 0.4% to $936 billion, XRP increased by a massive 61% to $2.2 billion.
XRP Bullish in the Short-Term
As CryptoNews analyzed on Saturday, XRP remains a bullish play in the short term.
Bulls have taken over the market, and wider market sentiment is positive, given the impression that Ripple could win its two-year lawsuit against the US Securities and Exchange Commission.
October is a traditionally bullish month for the crypto market and, as noted in the article above, the Fibonacci retracement remains in play that could see XRP breakout to as high as $0.65 to $0.70.
Ripple winning SEC Lawsuit?
There has been a lack of big news on the court case in the last week, but investors remain optimistic that Ripple is heading toward a landmark win.
Previous landmark announcements saw a US District Judge allow Ripple to use the emails of a former SEC employee as part of their defense.
The emails by former Corporation Finance Division Director William Hinman see him allegedly describe Ethereum as not a security.
#XRPCommunity #SECGov v. #Ripple #XRP Ripple slams the SEC and the SEC’s opposition to the I-Remit and TapJets motions to file amicus briefs. “If the SEC cannot evaluate the veracity of such claims then it had no business bringing this litigation in the first place.” pic.twitter.com/MBACAZL01N— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) October 5, 2022
They are a cornerstone of the Ripple defense, with the company denying XRP is a security as its ICO never included an investment contract.
They argue that finding XRP as a security would mean gold, silver, and art should be considered securities – they are currently counted as commodities and do not fall under SEC jurisdiction.
Earlier in September, Ripple CEO Brad Garlinghouse appeared confident his company would win the case.
“You have to remember that 99.9% of XRP trading has nothing to do with Ripple the company. So when you talk about, okay XRP is a security, I go back to something I said years ago when they started: ‘A security of what company? Who is the owner?’
“I think it’s very clear there is no investment contract. If you get past the investment contract, which I think is hard, across the Howey Test, you have to meet all three prongs, and in the case of the XRP case, you can’t meet all three prongs for sure.
“And so we think that the judge will see that the law is very clear, we think that the facts are clear and that this is just a gross overreach of the SEC trying to wrest control of that uncertainty that has existed.”
XRP Price Prediction: $4 by 2023?
With the wider crypto market struggling in bear conditions for the majority of 2022, it is difficult to see new all-time highs in the very near future.
However, the bear market will not last forever, and XRP could make incredible gains should they win the court case.
With both sides agreeing to a summary judgment, which should see a verdict announced in the coming months, XRP could break out in 2023.
A court win would not only end any uncertainty around XRP and Ripple, but it would also effectively be the first cryptocurrency to be regulated by the US government and courts.
Given the strong underlying ability of Ripple’s Ledger, institutional investment is expected to be huge should a court case win be forthcoming.
Banks and governments are expected to adopt Ripple on a mass scale, which should see it test its January 2018 all-time high of $3.84.
As we noted last week, under the right circumstances, XRP could even break as high as $10 and beyond in the coming years.
IMPT Surpasses $2.7 Million in Presale
Another project expected to be a big hit in 2024 is IMPT, an eco-friendly protocol that wants to help ease the climate crisis by allowing users to easily offset their carbon footprint.
IMPT is the native token for the Impact Project, a platform that aims to use blockchain technology in the fight against climate change. Through IMPT, users can buy carbon credits to offset their carbon footprint.
The developers are looking to improve transparency and efficiency in the fight against rising global temperatures, and this makes IMPT an ideal coin for ESG-focused investors.
The project has already raised more than $2.7 million, with $500,000 coming within the first 48 hours alone, showing impressive investor demand.
Those who are looking to get involved in a project early doors can follow this step-by-step guide on how to buy IMPT.
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