The forecasts about XRP might be slightly optimistic in the short term if t BTC breaks above USD 17,000. Positive news amid the legal dispute might allow the price of XRP to rise toward USD 0.45.
XRP is one of the most exciting crypto assets on the market for various reasons. The value of the project may increase massively in the coming years, but the legal proceedings against Ripple may affect it.
The Behavior of the Price of XRP over the Last Few Weeks
XRP appreciated significantly in late September and early October but only rose slightly due to an altcoin rally in late October. However, the collapse of the cryptocurrency exchange FTX triggered a rapid crash.
Over the last three weeks, t XRP has remained slightly stable, but the collapse of FTX caused it to drop below USD 0.33. Over the past few days, the price has been around USD 0.38, above its level before the September rally.
Reasons for the Recent Increase in the Value of XRP
Over the last few weeks, the predictions about the price of XRP for late 2022 have improved. The situation in the legal dispute with the US Securities and Exchange Commission (SEC) is better, as the government agency might exonerate Ripple.
However, the price of XRP during the Altcoin rally in late October could only rise from USD 0.45 to USD 0.50. Although it has aligned with other altcoins, its recent performance has been much better than other leading cryptocurrencies.
Predictions about the Price of XRP for Late 2022
The forecasts about the value of XRP might be neutral to slightly optimistic in the short term. That will depend on if the price of Bitcoin (BTC) breaks above its resistance at USD 17,000.
Altcoins follow the steps of Bitcoin again as they wait for further bullish or bearish signals. If the price rises toward USD 20,000 again, altcoins might increase significantly.
Forecasts Suggest the Price of XRP Might Rise by 25%
The course of XRP and other altcoins might go even higher in the coming weeks. That would be possible if Bitcoin breaks through the resistance, which could lead it to increase by 10 to 25 percent.
A further increase would be possible with more optimistic news amid the legal dispute. However, those factors might not occur at the same time. Since a sharp decline toward the end of 2022 is unlikely, forecasts would be between USD 0.35 and USD 0.45.
It Is Worth Investing in XRP for the Medium Term
The crypto cycle has bottomed out, but the price of Bitcoin might fall further. Although that situation would cause a drop in altcoins in the coming weeks, the trend might be bullish in the medium term.
The forecasts about XRP for the end of 2022 suggest that the price might achieve short-term gains. Therefore, it would be worth investing in the token of Ripple.
XRP is trading at around USD 0.3766 and has accumulated a 2.5% loss over the last 24 hours. While its daily trading volume is above USD 684.13 million, its market capitalization is about USD 19.00 billion, according to CoinGecko.
By Alexander Salazar