‹ Back

XRP Price Prediction 2023 - Can XRP reach $100?

 

By Nerly Shammah Jul 18, 2023

 

XRP has been predicted by multiple sources to be poised to reach $2-3. The numbers get interesting when you look at the upside of institutional interest. 

 

 

Ripple attained a partial victory against the Securities and Exchange Commission(SEC) on Thursday, July 13, 2023, for a reportedly 4 year running case by the SEC against Ripple on the operation of an unregistered security. 

 

The court ruled that institutional sales of the tokens(XRP) violated federal securities laws but sales on exchanges and programmatic sales did not and have recently ordered the SEC and Ripple to agree on 3 manually convenient dates to schedule a settlement conference "If they believe It to be convenient at this time". 

 

Reactions to this have pointed out that the case of settlement between Ripple and the SEC is different from other securities cases, citing that it has no impact on its ODL(on-demand liquidity) or Ripple's operations and that Ripple could fight it in court for another 3 years if the fine is above their finances. 

 

Following the victory news, the Ripple token XRP rallied over 70% in a couple of hours and reportedly over 100% no time later. This has caused people to ask questions like "How high can XRP price increase?" 

 

Can XRP reach $100 in the next bull run? The answer is between yes and no, what's to consider is the developments that follow from here. 

 

An example of such developments would be the speculation on the potential of XRP being adopted by U.S. Banks. 

 

"

 

Ripple is confident U.S. banks will start wanting to use XRP for cross-border transactions after a judge gave the firm a partial victory in its fight against the SEC, General Counsel Stu Alderoty told CNBC.

 

"

 

Ripple is a crypto solution for businesses, tailored to deliver:

 

-Enhance payments with real-time settlement, liquidity management and access to working capital.

 

-An all-in-one platform to access crypto liquidity to power payments, treasury operations and more. 

 

-Scalable, secure, and sustainable Central Bank Digital Currency that meets the high-security standards of Central Banks.

 

With major U.S. Banks like JPMorgan already developing structures for the tokenization of traditional assets in the wake of the crypto boom and nationwide interest in central bank digital currencies, Ripple as an old skin in the game appears to be a viable option for alternate banks, governmental bodies and financial institutions to leverage for the deployment of a wide range of digital products and services. 

 

This suggests that XRP is positioned to experience a massive price surge given the demands that may follow these developments. 

 

However, it is important to note that several experts have spoken against the excitement of these developments, citing that the Ripple victory may be short-lived saying the Judge got the law wrong. 

 

According to news.bitcoin.com report, Lawyer Bryan Jacoutot analyzed the events saying:

 

"

 

I’ve reviewed the district court ruling on XRP and it rests on very shaky ground. Expect an appeal. 

 

The court (IMO, incorrectly) relied on the fact buyers didn’t know if the XRP came from Ripple. But that doesn’t matter under Howey, only whether they expected profit based on the efforts of Ripple, which I think one could clearly say buyers expected (how else does XRP moon?).

 

"

 

That said, the fate of the XRP price value rests ultimately on how the market decides to price in the outcome of these events. 

 

While some have hinted at the start of an altcoin season, others have warned that it won't be long before it comes burning down. The XRP price prediction remains shaky, while in the short term, it could rally above $1, and potentially past its previous all-time-high $3.8419 which was over 6 years ago, on the long-term, it's subject to a whole lot more than these excitements.

 

With enough institutional cash flow, however, XRP could climb as high as $100 and potentially, as some have commented, ride past Ethereum in market capitalization.