Starting a cryptocurrency is the easy part, and anyone can do it. The hard part is getting users to accept it and give the ‘money’ value. Love it or hate it, XRP crypto has created a niche for itself within the crypto space. Current XRP market analysis suggests the value could go up. When it does, skeptics will soften as heads start to swivel. This guide probes catalysts that could spur the anticipated price swing.
Anticipation surrounding Ripple’s potential for significant growth in 2023
The recent partial victory that Ripple (XRP) scored in the Ripple SEC case has reignited rumors, with experts predicting Ripple’s share price could surge to over $600, representing a 20x rise in value. The predictions follow a decision by Judge Analisa Torres that ensured XRP isn’t named a security.
Besides practically removing Ripple crypto from under the SEC’s supervision, the verdict led to a marked increase in XRP’s trade volume and price and has rekindled a discussion surrounding the rise of Ripple’s Initial Public Offering (IPO).
Read more: Navigating Ripple’s Legal Drama: The SEC Lawsuit
What Ripple (XRP) is and its unique features and use cases
The Ripple network was launched in 2012, and the Ripple coin has set itself apart from other cryptocurrencies as a decentralized community that does not run it and does not position itself as an alternative to fiat currencies. XRP plays the role of a middleman currency that facilitates global trade between all units (both crypto and fiat currencies) of value.
Ripple coin is already working with several banks and financial institutions, and the Ripple network has always aimed to create a network of fast transactions that can run simultaneously. Ripple uses the Interledger Protocol that facilitates the routing of global payments using interconnected ledgers and seeks to establish an infrastructure that will rival SWIFT.
Among the use cases for Ripple financial services include cross-border payments, micropayments, e-commerce, banking, and remittances. Other potential use cases for Ripple technology include P2P lending, insurance, supply chain, and smart contracts.
Potential catalysts for optimistic XRP’s future (Ripple (XRP) and its likely growth drivers in 2023)
Catalyst 1: The Win in Battle with SEC
Judge Analisa Torres made a pivotal ruling last July on the SEC vs. Ripple lawsuit, where she ruled there was no way secondary sales of XRP tokens could be considered investment contracts. And with the stroke of the pen, she exempted the Ripple coin from being classified as a security under SEC’s regulation.
The legal clarity significantly boosted XRP’s reputation to the extent that many crypto exchanges that had delisted it over regulatory fears quickly relisted it and increased its market presence significantly. This led to the Ripple Victory Party held on September 29 in New York in what was dubbed “the biggest crypto celebration.”
Speculation remains high within the XRP community regarding possible announcements after the settlement with the SEC to the possibility of an IPO or partnerships with other payment networks or financial institutions, as well as XRP futures contracts. An IPO announcement would rally people who would see it as an investment opportunity of a lifetime.
Catalyst 2: Regulatory Clarity
The court’s decision, which hinged greatly on the Howey Test, ruled that XRP didn’t meet the criteria for the Howey Test when they sold on public exchanges as buyers never had reasonable expectation of profit due to Ripple’s efforts.
Read more: What Is the Howey Test and How Does It Impact Crypto?
Nonetheless, the direct sales to institutional investors somehow met the criteria, meaning the nuanced ruling could have far-reaching implications not only for Ripple but the entire crypto industry.
The Ripple SEC case creates a watershed moment for matters associated with crypto regulation. Besides vindicating Ripple’s position, it has paved the way for a better understanding of the mechanics of cryptocurrencies.
Once the dust settles on the Ripple lawsuit, the crypto industry will watch how the current ruling will influence future similar decisions besides potentially shielding many other cryptocurrencies from stringent SEC regulation.
Catalyst 3: Adoption and Partnerships
A July 2023 CNBC report quoting Stu Alderoty, Ripple Labs’ chief legal advisor, intimated that there were high possibilities of a potential Ripple partnership with more financial institutions and banks following the ruling that offered regulatory clarity.
According to Alderoty, he foresaw greater adoption and more partnerships as banks turn to XRP for their cross-border transactions. He opined that with the ominous label of “security” that hung over XRP’s head like the sword of Damocles no longer there since the SEC cannot appeal, the dampened partnership between banks and XRP would find a new life.
Ripple’s future success will now depend on its ability to gain adoption and establish partnerships with payment providers, banks, and financial institutions.
Catalyst 4: Technological Advancements
Having positioned itself as the go-getting player in the field of global remittances, the XRP blockchain, in a recent move, partnered with the Central Bank of Columbia to prove just that.
Read more: Ripples SEC’s Pond: XRP Not a Security, Says Judge Torres
However, the blockchain’s future growth is not only pegged on the demand for its services but also on its ability to transform the global payments industry to increase its prospects.
As such, technological developments will play a critical seeing that things change fast, with new and improved protocols emerging by the day. The continuous improvement and development of Ripple’s technology, especially in terms of scalability, consensus algorithm, interoperability, and security, will play a critical role in its future practicability and adoption.
Some critical areas the XRP blockchain must work on include improving network efficiency, reducing memory consumption, and optimizing transactions. The maintenance of low fees and the introduction of a healthy decentralized system will play an essential role in seeing Ripple reach its potential.
Conclusion: Ripple’s future: forecasts and price predictions for 2024-2025
All current XRP coin news points to a coin that most experts believe have the potential to reshape the global financial systems, especially cross-border remittances. After potentially winning the Ripple lawsuit, our XRP price forecast looks positive in the face of a Bullish market.
XRP Price Prediction 2024
Our XRP price prediction for 2024, in the face of a positive lawsuit outcome, will likely bolster the XRP price. Most experts believe the price of the Ripple coin will be at $1.80 but could go as high as $3.10 by the end of 2024.
XRP Price Prediction 2025
The XRP community looks forward to a sky-high valuation of the coin, with the XRP price today being $0.53. However, the coin’s limited circulating supply of 51.99% of its maximum 100 billion coins could be a limiting factor.
Despite these issues, there’s still a chance the XRP coin could attain a Bull run in 2025, especially if more banks and partners joined its ranks. Experts predict low prices of $3 and high prices of $4.5 by the end of 2025.
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