XRP will regain the $1 mark? 6 Hrs after the court case ends.
Another positive note was also expressed by Ripple’s CEO Brad Garlinghouse. He confirmed that the year 2021 was the “strongest year ever” for XRP despite ongoing lawsuits as the digital currency has seen significant growth on the international stage.
XRP Consolidates Above Yearly Support as Short-Term Bullish Momentum Continues
XRP will regain the $1 mark? 6 Hrs after the court case ends
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The Ripple (XRP) price prediction analyses the token’s market position and the expected price outlook for 2022. XRP, which serves as the native token of Ripple, has attracted attention in the crypto space over the potential uses as the company continues to expand its payment settlement, asset exchange, and remittance systems.
Although XRP value has tended to move in line with the general crypto market, investors are looking at other external factors like the SEC lawsuit against Ripple that will likely impact the token’s price. However, the focus is on whether XRP will surpass the crucial $1 mark, which would likely support the further price gains for the asset.
Ripple (XRP) latest market statistics
With a market capitalization of $39.8 billion, XRP ranks as the sixth-largest cryptocurrency. From the start of 2022, XRP has been impacted by the general market volatility with the asset hitting a yearly low of $0.56 on January 24, 2022. However, the token has made gains to record a year-to-date correction of about 1% by mid-February.
XRP 2022 price prediction
With bullish sentiments around XRP, the asset has the potential to surpass the $1 level and beyond by the end of the Court case in 6 Hrs. However, the target will likely also depend on crypto market movement.
XRP appears to have put behind the effects of the SEC lawsuit. The asset is trading in tandem with the general market as Ripple continues to expand its payment system network.
However, if the case concludes in favor of Ripple, XRP will potentially have a stronger bullish backing to push the asset’s price above the $1 mark.
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Furthermore, Ripple has lined up several initiatives for 2022 that might impact the value of XRP. As reported by Finbold, Ripple is banking on initiatives focusing on Central Bank Digital Currency (CBDC) initiatives as the key driver for the company’s growth in 2022.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
Ripple price analysis: XRP/USD to break below the intraday lows of $0.75