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An optimistic point of view has been circulated among analysts and proponents by the response from Ripple. Many analysts believe that Ripple is quite close to winning the SEC’s lawsuit. If Ripple wins it is predicted to show a bullish effect on the prices of XRP.
Currently, XRP is trading at $0.812 with an average trading price of $0.810 for a week. It acquired an all-time high of $3.84 and an all-time low of $0.002802 and has a max supply cap of 100 billion.
Bullish
An analyst believes that the XRP is currently undervalued and expects it to be at $2 at least. Some analysts also predicted that if Ripple wins, the prices of XRP could reach as high as $12, more than three times of its all-time high. Also, the winning of Ripple might show a green light to financial institutions to initiate the use of XRP via XRP ledger.
Bearish
But what if Ripple loses? Losing Ripple might affect XRP worse than one can imagine. Some analysts even thought that Ripple might no longer exist, however, XRP will. The prices kept fluctuating ever since the lawsuit was filed. In Dec 2020 it had a value of $0.17, in April 2021 it reached $1.96 then fell back to $0.51 in June. It covered back to $1.41 in September, fell to $1.23 in October, and ever since maintained itself between $1 to $1.2. A few analyses indicate that the price may trade between $1.14 to $1.72 in 2022.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
