Experts predict that Ripple reaching US$3 is possible if it follows certain criteria and stays on the green line
Although Ripple had a very hard time in the past, it began 2021 on a positive note. Fortunately, Ripple’s price also came up from US$0.21 to reach US$1.8 in the first month of the year. Despite experiencing an 840% growth in a short span of time, XRP hopped on a downward trend later. Within a period of two months, Ripple recorded a 70% downfall. Currently, the price is swinging between US$0.70 and US$1.3. But experts predict that US$3 seems an easy reach for Ripple if it follows certain criteria and stays on the green line.
2021 was filled with both bearish and bullish trends for the cryptocurrency market. However, for the majority of the time, Ripple was on the red. While major cryptocurrencies like Bitcoin and Ethereum made record prices last year, XRP was struggling to keep up its pace. Fortunately, the cryptocurrency market as a whole helped Ripple maintain its pace for a while. Constant updates on NFTs, metaverse, and Web 3.0 and people’s overwhelming interest in virtual tokens kept XRP ablaze. Today, Ripple’s price is undeniably dependent on three major factors namely the result of the Ripple vs SEC case, market adoption growth, and the price swings of its peers. Although it is a bit difficult to foresee what is ahead in the cryptocurrency market, experts opine that all is good for Ripple in 2022 and it is will break its own resistance this year.
How did XRP Perform in 2020 and 2021?
XRP had a very volatile year in 2021. First, the price went up to US$0.7872 in January 2021 only to slide back and fall below US$0.2108. However, it managed to break its own barriers and rallied at US$1.966 in April. Although this is not an all-time high, investors were happy since it managed to rally over the odds. Unfortunately, their joy didn’t last long as XRP fell back to US$0.50 levels.
Ripple vs SEC lawsuit contributed to the cryptocurrency’s unprecedented swings over the past year. Eventually, it led investors to sell off their Ripple tokens. XRP had a hard time in the second half of 2021. Towards the end of the year, things got even more hectic as Ripple’s price went down even further and maintained a moderate level later.
Looking before 2021, we can still say that XRP value was on big swings for a long time. After SEC filed a lawsuit against it, the cryptocurrency was greatly hit by the unexpected move. Ripple’s price went to as low as US$0.1748 in December 2020 before boarding a recovering phase in 2021. Prior to this, XRP rallied at an eye-watering US$1.96 in April 2020.
Rippe this Year
Experts are anticipating a possible bull run in early 2022 as Ripple’s price is already indicating a positive move to touch US$1.36. Although XRP was on a bearish ride for quite some time towards the end of 2021, it caught pace in December. Each time investors posed a test to the cryptocurrency, it overcame them without much loss. Therefore, experts believe that XRP’s price might reach US$3. If Ripple vs SEC case result comes in favor of XRP, it is expected to trigger the price to a further extent.
Ripple vs SEC: What should we Expect in 2022?
The Securities Exchange Commission (SEC) filed a lawsuit against Ripple Lab and two executives over raising US$1.3 billion, which the agency claims as ‘through unregistered means and digital security offerings’. While SEC has classified XRP as a security, in this case, it told that ETH is not a security in a different scenario.
The Ripple vs XRP case has come a long way since it first started in 2020. Although some hearings were in favor of SEC, crypto enthusiasts say that the result is expected to come in favor of Ripple. If XRP wins, it will be the first major victory of a decentralized medium against central authority.
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