XRP Headed Towards $5? Cryptocurrency Experts Weigh-in

Ripple’s native token XRP is now the most traded altcoin of 2023 and its rally was fueled by the recent win against the SEC. In a historic ruling, Judge Analisa Torres said that XRP is not a security, and the move has been seen as a win for the overall cryptocurrency markets. The victory has rekindled interest in the markets ushering in a new era without the purview of the SEC. XRP skyrocketed nearly 75% after the judgment and is attracting bullish sentiments in the indices.

Also Read: Twitter’s X To Become Half of the World’s Financial System: Elon Musk

Source: kaiko

XRP is looking to climb above the $1 mark and investors believe its price could move further, as it’s now free from all legal bindings. Several predictions estimate that its price could hit $5 in the coming months. However, cryptocurrency experts analyzed the prospects of XRP hitting $5 and weighed their opinions.

Ripple: Will XRP Hit $5 in 2023?

Ripple XRP Surges 30% as Judge Declares Non-Security
Source: Coingape

Jake Hill, CEO of loan consolidation firm Debt Hammer said that XRP touching $5 remains to be a long shot. Ripple’s native token is currently hovering around the $0.70 mark and needs to spike 900% to reach the target. Hill predicted that XRP has a slim chance of hitting $5 as the markets are not in favor of a rally.

Also Read: Shiba Inu: When Will SHIB Climb Above Its All-Time High of $0.00008616?

XRP/USD Chart by TradingView

According to Hill, XRP could rally and climb above the $5 mark only if the circumstances are right. “This courtroom decision is a win for the cryptocurrency world. It’s not an automatic ticket to $5 prices for XRP,” he said.

The analyst added, “This would represent a roughly 900% surge, which is a tall order for any asset. However, XRP is the only cryptocurrency to surpass the market cap of Ethereum (ETH) and is known for periodic rallies. These factors could easily push XRP into the $5 and beyond range in the right circumstances.”

Also Read: BRICS: Warren Buffet Predicts the Future of the U.S. Dollar

At press time, Ripple’s native token was trading at $0.70 and is up 2.1% in the 24-hours day trade. It is down nearly 80% from its all-time high of $3.40, which it reached in January 2018.

  • Ripple

Comments

Post a Comment

Popular posts from this blog

BNP Paribas teams up with Bank of China to promote digital yuan usage

The partnership will enable BNP Paribas China's corporate clients to make payments using the digital yuan through an e-CNY management system. The French bank BNP Paribas is collaborating with the Bank of China (BOC) to promote China's digital currency, the digital yuan, to its corporate clients, the South China Morning Post reported.  The partnership will enable BNP Paribas China's corporate clients to connect with the BOC system, allowing users to manage their digital yuan wallets by linking them to their bank accounts, track transactions, and make payments using China's digital currency via an e-CNY management system. The e-CNY management system also promises to make it easier and more convenient for clients to use digital cash for real-time transactions. The e-CNY management system can facilitate “efficient, real-time and convenient [digital cash] practice,” BNP shared, according to The South China Morning Post.  BNP Paribas China also plans to explore the use...
Read more

VeChain Working With United Nations in Sustainability Campaign

Image
VeChain is launching a new sustainability campaign with the United Nations aiming towards the promotion of sustainability through the AWorld campaign. “We’ve just launched our Challenge Tournament in the AWorld app, the official platform in support of the United Nations ACTNOW sustainability campaign! We have some epic prizes for our eco-champions – are you ready to play?” the project tweeted. Source: Zipmex AWorld is the UN’s official platform supporting the ACTNOW campaign. The VeChain sustainability campaign pushing for individual actions on climate change and sustainability. Its partners include the University of Cambridge, the European Commission, BlackRock, Prada, and now, VeChain Also Read: VeChain : VET Secures Key US Patent For Blockchain Transactions The VeChain Blockchain network will reward participants for daily sustainability actions as part of the initiative. According to VeChain , all participants will receive an exclusive NFT, with one lucky winner rece...
Read more

5 New Countries To Join BRICS Alliance in August

Image
The next BRICS summit will be held in South Africa in August and the bloc of five nations will decide on expanding the alliance. It is reported that the BRICS expansion could occur in August making the alliance rebrand itself as BRICS+. Among the 25 countries that have applied to join the BRICS alliance, five could be allowed entry into the bloc. Their entry into the group is almost certain and the announcement of the expansion could be made at the summit. Also Read: BRICS: Saudi Arabia, Iran & Brazil Pay in Chinese Yuan, Ditch U.S. Dollar BRICS is an acronym for Brazil, Russia, India, China, and South Africa. The group is looking to take on the U.S. dollar by launching a new currency for global trade. BRICS: 5 New Countries To Join the Alliance in August Source: pakistantoday.com.pk Out of the 25 countries that formally sent their applications to join BRICS, only five could be inducted in August. The five countries likely to join the BRICS alliance are Saudi Arabia, the United Ara...
Read more