According to analysts, the growth potential of Ripple (XRP) may exceed 300% from current levels. Expert James Dean called it important that investors who put their trust in XRP at the peak in January 2018 are now trying to “pull prices up” in order to exit the asset with minimal losses.
Ripple (XRP) prediction for 2021 and the next year: lawsuit overshadows the market
“The growth of XRP in the third quarter will be limited to the levels of $0.6-1.2, but this is a basic scenario that does not take into account the impact of fundamental data that may appear. The fundamental factor in the behaviour of XRP will be the development of the situation with the SEC, if market participants see a hint of a solution to the situation in favour of Ripple, XRP quotes will immediately react with a significant increase, and it is possible that this growth will not only return Ripple to the peak of 2018 above $3.7, but also to new historical highs, ” James Dean predicts.
XRP has been “at the bottom” for too long (the accumulation phase began in August 2018), and traders fuelled by rumours of litigation with the SEC have accumulated a significant short position in the token for the period from November to February 2020-2021, analyst Todd Teaspoon added. Thus, the surge in prices caused the liquidation of some short positions, which also affected the strength of growth, the expert noted at the end of his XRP price prediction.
Fundamental Ripple perks and developments affecting XRP prediction
“The nearest target for Ripple (XRP) is at $1.3, but I do not rule out a stronger price increase for Ripple in the coming months. Despite the negative background, the Ripple project continues to develop, so the asset has prospects for updating the historical maximum,” Todd Teaspoon says.
Some members of the XRP community believe that the case of Ripple against the SEC has become “a little cold”. Since the XRP community has not received any news about the Ripple v. SEC case recently, Twitter user Martin Valk turned to members of the XRP community. He asked whether this means that the trial between Ripple and the regulator will continue behind closed doors in the future. The community is very concerned as every member of it is interested in XRP price prediction.
- The people whom Valk noted in his tweet are lawyers Jeremy Hogan and James K. Phelan, as well as the founder of the portal Crypto-Law.us John E. Deaton.
- Valk, in particular, asked whether there are any known dates for further hearings or this information has since become closed to the public.
- There were those who supported his doubts. However, one of the commentators also responded with a link to a pinned tweet on James K. Phelan’s Twitter page, which shows a table of planned events related to the lawsuit filed by the regulatory agency against Ripple.
- It stated that the deadline for the discovery of facts and experts is set for the end of August – mid-October. Therefore, the lack of news on the trial may not mean anything yet.
Other Ripple-related news to consider in XRP price prediction
The NFT Mintable platform, supported by businessman Mark Cuban, has received a total of $ 13 million in investments from various companies. Among them was Ripple, which may be important for Ripple( XRP) price prediction.
In a statement made by Mintable on this issue, investors include Ripple (XRP), Animoca Brands, NFT investment fund Metapurse is supported by Metakovan, Shutterstock founder and chairman of the board John Oringer, and Doug Band was also announced.