According to many in the digital currency ecosystem, the price of the XRP coin is currently disappointingly low. This is in contrast to predictions by Edoardo Farina, CEO of Alpha Lions Academy, and Versan Aljarrah, Black Swan Capitalist founder who both believe the future XRP’s price at $10,000 is realistic. As per market capitalization, XRP has underachieved 90 out of the top 100 cryptocurrencies.
Market Context and Analyst Perspective
Despite this bleak outlook, some crypto analysts say adopted indices may not fully capture the situation. Notably, Bill Morgan maintains that the seemingly poor performance is decoupled from Ripple’s partial victory against the U.S. Securities and Exchange Commission last July.
Although XRP’s recent price action appears disappointing, Morgan remains baffled by the token’s inability to pick up growth after the court ruling.
Morgan questions, “The better question is not why XRP price is underperforming other top 100 coins but why the post summary judgment price rise impact was not sustained and almost entirely lost and why XRP is still trading at prices visited in 2018,” he commented on social media platform X.
The major rally occurred after U.S. District Judge Analisa Torres declared XRP a security only when sold to institutional buyers, causing the controversial token’s price to surge to a 2023 peak of $0.94 on the Bitstamp exchange. However, the excitement was short-lived, with XRP’s value plummeting 57% from its post-ruling high.
XRP Current Price Analysis
Currently, XRP is trading at $0.4955, up 0.56% according to data from CoinMarketCap. For context, the token peaked at approximately $0.71 in July 2018, even amidst a bear market. Meanwhile, top market analyst MikyBull, believes XRP has what it takes to break out from its current phase riding on the monthly RSI indicator.
Although there is speculation among community members of possible price suppression artificially by Ripple, through its sales, the analyst dismissed them.
According to Morgan, Ripple does not offer discounts to on-demand liquidity (ODL) customers, which suggests that ODL sales – one of its biggest businesses – have a neutral impact on the token’s price. Morgan also maintains that Ripple’s ODL operations do not artificially influence XRP’s market value.
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