In 2023, Ripple and XRP saw big wins. XRP’s price rose by over 80%, and legal victories against the SEC led to charges being dropped against Ripple’s executives. With these successes, XRP got relisted on major exchanges, including Blockchain.com.
Looking forward, despite steady current prices, analysts predict a bright future for XRP, foreseeing substantial price jumps, possibly hitting $1.40 by March 2024.
Ripple and XRP’s Resilient Year Amidst Challenges
Despite the ongoing market correction, Ripple and its native token, XRP, have marked a successful year. The blockchain enterprise earned recognition with prestigious awards, and XRP’s price surged by more than 80% since January 1.
A significant highlight for Ripple in 2023 has been its successful legal battles against the United States Securities and Exchange Commission (SEC). The firm secured three major court victories, with the first in mid-July when a Federal Judge determined that past XRP sales did not constitute investment contracts. In October, the regulator’s attempt to appeal was dismissed, and Ripple’s CEO Brad Garlinghouse and Executive Chairman Chris Larsen were cleared of all charges.
With Ripple prevailing in the legal arena, major cryptocurrency exchanges such as Coinbase, Crypto.com, and Kraken decided to re-list XRP on their platforms. The most recent addition to this list is Blockchain.com, which recently announced its support for XRP. Notably, Blockchain.com had halted XRP trading in January 2021 following the SEC’s lawsuit against Ripple.
XRP’s Price Stability and Bullish Projections
Despite the recent interaction from Blockchain.com, XRP’s price has shown stability in the past 24 hours, maintaining around $0.62 according to CoinGecko’s data.
While the recent crypto market “flash crash” serves as a reminder of potential risks, analysts express optimism about XRP’s future. Twitter user EGRAG CRYPTO sees the recent market turbulence as a cautionary tale on leveraging trades but remains positive about XRP’s trajectory. The forecast points to a climb in valuation, reaching $1.40 by March 2024.
Another analyst, JD, offers an even more optimistic outlook, suggesting the possibility of an upcoming “Golden Cross” for XRP. This potential market indicator could lead to exponential price growth, adding to the positive sentiment surrounding XRP’s future performance.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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