How could the XRP price move in the coming weeks, and what is the XRP forecast for February?
The Ripple network’s XRP coin has been one of the most interesting, but also one of the most controversial coins in the crypto market for some time. Above all, the legal dispute with the US Securities and Exchange Commission (SEC) is weighing on investor confidence in the project.
The XRP price has seen a sharp rise in recent weeks, and like many other altcoins, it was able to benefit from Bitcoin’s rise in January. The XRP price has risen from $0.34 to $0.41 in the last 4 weeks. While this increase was significant, it was not as strong as the price increases of most other altcoins.
The XRP price moved almost sideways in the first days of the new year. Midway through the month, the price could experience a strong increase. After stabilizing in the days that followed, there was another rally above $0.40 last week. For a few days it has only been on the side.
Why Could the XRP Price Increase So Little?
If the price development of Ripple’s XRP coin is compared to other major altcoin price developments, the price of XRP could not show a significant increase. This could be because many investors doubt that the XRP coin can continue to maintain its price in the future.
Due to the legal dispute with the US Securities and Exchange Commission, it is difficult to gauge how the course will unfold in the coming months. If Ripple is guilty of illegal securities trading, this could lead to an implosion in the XRP price.
What is the Ripple (XRP) Forecast for February 2023?
At the moment it is difficult to say in which direction the market will move in the coming weeks, because, in the last few days, prices have stabilized and there have been stronger sideways movements. In the last few hours, though, the Bitcoin price has been able to rally again, which could favor a good Ripple (XRP) forecast for February.
There are two scenarios for the Ripple (XRP) forecast, outlined below.
First scenario: The market continues to rise in February. In this case, the Ripple Forecast (XRP) at $0.45-$0.55 will stand.
Second scenario: there is another stronger crypto market crash in the coming weeks. In this case, the XRP course could see a drop again. one Ripple (XRP) forecast of $0.25 to $0.35 is assumed to come out in February.
XRP has become a very risky cryptocurrency as a result of the legal dispute with the SEC. A guilty verdict would greatly damage confidence in Ripple, and could cause the XRP course to implode. Therefore, the course is difficult to predict. The Ripple (XRP) forecast shows that the market may go in different directions in the coming weeks.
In conclusion, the XRP coin should be seen as a speculative investment for the next few weeks.
By Audy Castaneda
