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Ambitious predictions are flying in the air, and the conclusion of the case is now near. So what will the price be? Although the Ripple CEO’s predictions are rather Optimistic, he is one of the most authoritative and should be taken into account. The Ripple lawsuit is likely to end within weeks. Prices have not yet increased to reflect this.
Ripple Case Price Prediction
Ripple (XRP) price is up 10% in the past three weeks. That’s because people are increasingly optimistic that the case will be over soon. Moreover, this growth comes amid an overall decline in the market. The bulls are currently targeting a breakout of the $0.5 level and a run to new highs.
As of May 2023, XRP outperforms BTC and ETH. The Ripple community expects this protracted lawsuit to end in the coming weeks. XRP whales have also acted to reflect this expectation. The first target will be the price surpassing $0.5 before that decision, then XRP will seek support for a new peak in 2023.
How many dollars will Ripple (XRP) have?
Cryptocurrency whales have stepped up their buying this month. On-chain data highlighted the group’s contribution to May’s gains, with the group holding balances between 10 million and 1 billion XRP. Between April 30 and May 26, the group of whales bought 290 million XRP. When we look at the current market value of $0.47, those purchases are worth $136 million. This is a very large number considering the lack of liquidity in the market. Additionally, the current and future impact on price is huge, as this group of whales owns most of the supply.
But despite the 10 percent gain, most cryptocurrency investors who bought XRP over the past month only gained 2 percent, according to MVRV data. We’ve never seen them sell 7% gains in the past. So an initial target of $0.5 seems reasonable. If demand recovers in the region, it is very likely, especially if the market is excited, in which case $0.6 could be reached in the medium term.
Conversely, a close below $0.45 could lead to a decline to $0.4.
Information source: compiled from COIN-TURK by 0x information.Copyright belongs to the author Fatih Uçar, without permission, may not be reproduced