Ripple-XRP Price Predictions In light of its total market capitalization rising to $20 billion – Can XRP reach $10?

The price of the Ripple coin (Ripple-XRP) decreased by 1.5% in the past 24 hours, although its current price of $0.382986 represents an increase of 3% from its price compared to the previous week and an increase of 4% from the past two weeks; The recent price movements of the XRP currency also led to its recovery of its total market value of $ 20 billion earlier this morning, with it achieving a 12% increase since the beginning of this year.

The recent price movements of the currency come amid ongoing concern surrounding the stocks of the banking sector and the global financial system in general, with the increasing orientation of investors towards Bitcoin-BTC, which helped boost the crypto market as a whole, including the XRP currency. And with Ripple expecting its long-running case with the US Securities and Exchange Commission (SEC) to conclude within the next few months, the price of XRP could see some massive gains in the near future.
Ripple Price Predictions Amidst $20 Billion Market Cap – Could XRP Hit $10?

The XRP price chart indicates that the expected rise in the price of this cryptocurrency may be imminent, and it seems that the relative strength index (shown below in purple) will rise above the 50 mark today, which indicates increasing momentum in a positive direction.

Meanwhile, the 30-day moving average (SMA-30, shown above in red) is still significantly lower than its 200-day counterpart (SMA-200, shown in blue), which – given its recent stability It may start to move upwards again.

In fact, XRP tested the $0.4 resistance level this morning, a move that enabled it to regain its total market capitalization of $20 billion; Although its price fell once again below this barrier, it is likely that it will be able not only to return to this level in the next few hours or days, but also to breach it decisively to the upside and stabilize above it.

It is interesting that crypto whales have different views on what XRP might do next, with some of them transferring amounts of it to exchanges and others taking it out of those platforms. For example, yesterday saw a large trader withdraw $11.8 million worth of XRP from the Upbit exchange, while another whale transferred an even larger amount of $118.2 million worth of XRP to the other exchange Binance.

While you can draw whatever you like from this, the long-term picture remains positive for Ripple-XRP, largely due to expectations surrounding the outcome of Ripple’s case with the US Securities and Exchange Commission (SEC). ; It is encouraging to see that the company has been able to win a series of positive court decisions in its favor over the past few months, adding to the feeling in the crypto community that it has a good chance of emerging victorious in its heated legal battle with the commission.

In addition to the foregoing, Ripple’s ability to achieve a decisive victory in its current case may lead to a rise in the currency price that may not only stop to the level of $0.5 and then $1, but will easily enable it to surpass the highest price peak ever recorded at the level of $3.40, which was seen in January 2018; The price of the prominent cryptocurrency could see higher and higher peaks, as some XRP holders are targeting the $10 level.

It is important to point out that the aforementioned expectations will largely depend on the company achieving an outright and final victory in its current case, in addition to the growth of its business and the return to market conditions that further support the trend.

However, it is certain that a massive increase in its value is not excluded at all, especially since the XRP currency maintained its position among the top 10 digital currencies in the world even in its darkest period that coincided with its legal dispute with the US Securities and Exchange Commission (SEC).
Is Now the Right Time to Buy XRP?

While now is a good time to buy XRP given how much its price has fallen and possibly undervalued, this altcoin may not see a significant price increase until later this year once the ongoing court dispute is settled.

As such, traders looking for large short- and medium-term returns on their investments may prefer to consider a number of other promising digital currencies.

To help with this, Cryptonews.com’s The Industry Talk team has put together a list of the top 15 altcoins to watch closely in 2023; This list is updated on a weekly basis with new ICOs and promising altcoins in the pre-sale stages.