XRP to Exceed All Expectations in 2023? New Reports Suggesting 100x Gains

Ripple is up to outdoing the wildest imagination of people’s price predictions as the token takes new highs and reaches out to break a new all-time high. $XRP has been on the radar of significant investors’ portfolios and has been the talk of institutions, news agencies, and regulators in several countries following its legal battle with the United States Securities and Exchange Commission (SEC).

Blockchain and cryptocurrencies are constantly evolving, and Ripple’s $XRP is definitely no exception. While $XRP has had a tumultuous journey in the past, recent reports suggest that the cryptocurrency is set to exceed all expectations in 2023, with potential gains of up to 100x. This article aims to unveil the inherent “Bull” in $XRP and the factors supporting Ripple’s 100x move!

Also read: Nexo.io Review: Safe and Legit?

Investor’s Response to the US Ripple Court Case

Following fundamental analysis, Ripple’s court case must be brought to the fore, as a factor and report contributing to the $XRP’s 100x expectations. The court case dated December 22, 2020, was birthed by the U.S. Securities and Exchange Commission (SEC). 

The SEC filed a lawsuit against Ripple Labs Inc., its CEO Brad Garlinghouse, and its co-founder Chris Larsen alleging that Ripple conducted unregistered security offerings through the sale of $XRP tokens. The lawsuit claimed that $XRP should be classified as a security and that Ripple and its executives violated federal securities laws.

Investors seem to be extremely optimistic about $XRP, as a glimpse of Ripple’s court case coming to an end starred the headlines recently. This began in September 2022 and was repeated in March 2023 when $XRP pumped 30% due to reports that Ripple’s court case could soon be coming to a close. Although the new SEC chairman Gary Gensler seems unclear about categorising crypto under securities and commodities, as in the case with $XRP. 

The Chief Legal Officer of Ripple wrote in a tweet in February 2023 that “The SEC has lost 4 of its last 5 cases in the Supreme Court, thanks to the few that had the courage and resources to fight back against the SEC’s bullying and clinging to stretch legal positions that were not faithful to the law.” This is also heightening the hopes of investors positively on $XRP this year for a potential 100x.

$XRP Market Analysis

$XRP first traded at a low point of $0.048 per $XRP token and has since kept a sustained demand along a diagonal path up till 2023. Although the token had registered an all-time high of $3.8, following its U.S. SEC’s case, it has not made any attempt to break its previous ATH. Technically, $XRP is also forming a triangular pattern that is trailing close to a potential breakout. A triple touch on the diagonal demand only proves a strong demand and sets the tone for the incoming Pump. 

A breakout of a triangular pattern, plus a retest on the weekly order block between $0.43 and $0.45 (Which the market traded into in the second week of June) only strengthens the bullish sentiment in $XRP. Every breakout of a triangular pattern will take the next top of the triangle (Which is the previous ATH) and that is a 500% increase to a new price of $3.3. 

For $XRP to attain a 100x from its current price of $0.46 means it would be trading at $45-$50. This also impacts the market capitalisation by bringing the market cap from $24,211,965,980 cap to a whopping $240,211,965,980 – a 100x increase. 

2023 Crypto Bullish Sentiment

Ripple’s 2023 New Value Report has it that some top five crypto trends are set to revolutionise the business landscape, including increased confidence from financial leaders, mainstream adoption of digital assets, and increased enthusiasm surrounding the tokenisation of real-world assets. 

Over 70% of global finance leaders emphasise an increase in their confidence in the crypto industry over the past six months, and 79% of participants expressed high levels of confidence in incorporating cryptocurrency solutions into their businesses.

The 2023 crypto market sentiment remains bullish following a serial launch of crypto ecosystems/protocols, community building, a bullish start of Q1 2023, and other real-life crypto utilities being deployed in the concluding post-bear market. With $BTC achieving an almost 2x feat from its low in November at about $15.5k to over $30k in April 2023, there’s more exploration for $XRP to lead its way to a new all-time high and an easy 100x from 2023.

The price of XRP has been volatile with an all-time low of $0.002802 and an all-time high of $3.84. However, recent partnerships with companies in the NFT space and the launch of a cross-chain DeFi platform could lead to an increase in XRP’s daily active users, leading to potential growth in the cryptocurrency’s value in the coming years. It is essential to note that past performance does not guarantee future results, investors should still conduct their research before investing in the crypto market.

Frequently Asked Questions

What Time of This Year Would $XRP Attain 100X?

Since XRP is also a cryptocurrency, it is also subjected to market volatility. Attaining a 100x can happen next month or anytime, but this is dependent on the money inflow from investors into the al token, which is a digital token, which is dependent on varying factors like investor interests, monetary policies, and the court case, amongst others.

As of October 2021, the average trading price of XRP is around $1.10. However, market analysis suggests that XRP will see significant gains in 2023, and would begin the journey to its 100x this year, with an estimated average trading price of about $0.8 in October 2023.

What Is $XRP, and Why Is It Expected to Exceed All Expectations in 2023?

XRP is a digital asset that is used to facilitate cross-border payments and transactions on the RippleNet blockchain. According to market analysis conducted by crypto experts, XRP is expected to experience significant growth in 2023 due to factors such as increased adoption, a possible Ripple victory in the lawsuit, and overall market growth.

Is $XRP’s Centralisation a Cause for Concern?

XRP’s total supply is capped at 100 billion tokens, with a significant portion held in escrow by Ripple Labs. This has raised concerns among some investors regarding the centralisation of XRP. However, proponents argue that this centralisation is necessary for the efficient operation of the RippleNet blockchain and that it does not pose a significant risk to the asset’s growth and adoption.