The cryptocurrency market is experiencing a slowdown, with many assets losing their previous gains. However, XRP is not an exception to this trend. Despite this, some experts in crypto trading believe that XRP could soon see a remarkable recovery and even reach new all-time highs.
XRP Price Forecast
According to crypto analyst Egrag Crypto, XRP is following a similar price trajectory to that of 2021, which previously brought it to a price level of $1.80. In a post shared on April 25, Egrag suggests that XRP could continue on the same price path. The analyst predicts that XRP’s current price movement could reach $1.4 by June-July, which would be a significant price level. He considers the range between $1.2 and $1.8 as a reasonable price target.
Furthermore, if XRP follows a similar path as it did in 2021, it could potentially reach a new all-time high of $4, which would be a staggering increase of 678%, according to Egrag Crypto. However, he advises investors to exercise caution and “wait” as this price movement is likely dependent on the price action of 2021.
On the other hand, CoinsKid does not share the same level of optimism. He notes that XRP was once again rejected from the historical level of $0.55 on April 24, and he finds such price movements to be “boring.”
XRP Developments
As of April 25, XRP is trading at $0.520, representing a 1.44% decrease over the last 24 hours and a 4.70% gain over the previous seven days. However, there has been a monthly decrease of 19.83%.
The current fall in XRP’s price could be attributed to Ripple, the issuer of XRP, exchanging with Tether (USDT), the largest stablecoin by volume, on behalf of its ODL (On-Demand Liquidity) customers in the US. This exchange is linked to Ripple’s ongoing legal battle with the SEC (Securities and Exchange Commission).
Meanwhile, Ripple’s defense team has made a statement regarding their approach to the lawsuit with the SEC. They criticize the SEC and argue that the $2 billion penalty demanded for selling XRP to institutional clients is unfair. They suggest that any penalty over $10 million would be unreasonable.
Disclaimer: The information provided in this article should not be considered investment advice. Investors should be aware that cryptocurrencies carry a high level of volatility and risk and should conduct their own research.
