Capital.com, an online trading platform, has released its Ripple (XRP) price forecast for 2022 and beyond, as the SEC v. Ripple litigation is anticipated to be resolved in the following months, either by a settlement or a court judgement, causing the market to reach its own conclusions.
Although the lawsuit has affected XRP trading in the United States, the cryptocurrency is still active on overseas markets. The conclusion of the litigation will almost certainly result in the relisting of XRP on US exchanges.
Short-term bearish, but extremely bullish in the years ahead
Capital.com used information from a variety of sources to forecast the price of XRP. Nicole Willing used market data platform CoinCodex, algorithm-based site Wallet Investor, DigitalCoin, and PricePrediction to compile price projections.
Wallet Investor predicted that the average price of XRP will rise to $1.1 by the beginning of 2022, $1.68 by the end of 2022, $2.3 by the end of 2023, and $3.5 by the end of 2025, whereas CoinCodex predicted a gloomy short-term outlook.
According to DigitalCoin, the average price of XRP will be $1.57 next year, $1.85 in 2025, and $4.17 in 2028. XRP might average $3.64 in 2025 and reach $23.32 by 2030, according to PricePrediction.
“It’s vital to remember that cryptocurrency markets are incredibly unpredictable, making it impossible to anticipate a coin’s price in a few hours, much alone long-term forecasts.” As a result, analysts may and do make mistakes,” according to Capital.com, which advises investors to do their own research, remember that previous success is no guarantee of future results, and never invest more than they can afford to lose.
The price of XRP, according to Ripple, is influenced by larger markets
Capital.com’s Nicole Willing commented, “Underlying trade activity is uncertainty based in this current legal lawsuit brought against Ripple by the US Securities and Exchange Commission (SEC) in December 2020.”
“The SEC’s theory that XRP is an investment contract ignores the economic reality that XRP is, and has long been, a digital asset with a fully functional ecosystem and a real use case as a bridge currency that is not reliant on Ripple’s efforts for its functionality or price,” Ripple CEO Brad Garlinghouse said in December.
The price fell from $0.60 at the end of November 2020 to $0.1748 in December 2020, when the SEC filed the complaint, but crypto bulls propelled XRP to a high of $1.9600 in April 2021, still much behind the all-time high of $3.84 set in January 2018.
Ripple Labs has maintained in its response to the case that price patterns on larger markets, rather than efforts to influence the price by boosting its liquidity as an asset, determine the price of Ripple.
“Extensive data research reveals that the price of XRP is correlated to the price of other top digital assets, not to Ripple’s statements or business news.” The statistics demonstrate that Ripple’s public pronouncements have had little influence on the price of XRP, indicating that the market does not think Ripple’s efforts will result in a rise in the price of XRP.”
