Following the SEC lawsuit outcome, XRP is expected to hit R40.81 by December 2022

According to a new report by finance trend survey platform Finder, the price of Ripple (XRP) will reach $2.55( R40.81) before the end of the year.

The report, which was updated on May 4, questioned a panel of 36 industry experts for their predictions on how XRP will perform over the next decade if either Ripple wins or loses its case against the Securities and Exchange Commission (SEC).

Despite the fact that XRP has lost over 84% of its value since reaching an all-time high of $3.84( R61.46) in January 2018, the report forecasts a 260% increase in XRP price for the rest of the year to $2.55( R40.81) if Ripple wins its case with the SEC. However, if Ripple fails, the coin’s value could plummet to $0.68( R10.88). The current report lowers an earlier forecast by another panel of fintech experts, who predicted a high of $2.79( R44.65) for XRP before the end of the year.

The panel also believes that XRP’s value will peak at $3.61( R57.78) by the end of 2025 before rising to $4.98( R79.71) by 2030. At the time of writing, XRP is trading at $0.61( R9.76).

Despite the bullish forecasts, not all panellists believed XRP would reach the stated prices. If Ripple wins its case, Matthew Harry, the head of funds at DigitalX Asset Management, believes that XRP will only reach $5( R80.03) before December 31, 2022. According to him, XRP’s behaviour only proves that it is a speculative asset with no real value.

“Except for speculation, the XRP token is worthless.” The underlying technology is fantastic, but the token itself currently has no use; it simply attracts speculators because it is cheap and has an easily digestible value proposition – none of which is reflected in the token.” Harry stated.

CoinFlip founder Daniel Polotsky is even more pessimistic, predicting that XRP will only reach $0.90( R14.40) before the end of the year. He also believes that the crypto asset is based on hype rather than actual usage.

With that, only 23% of the panellists recommended buying XRP, with 45% preferring HODL and 32% saying now is the time to cut bait. Having said that, despite XRP bearing the scars of an ongoing legal battle between Ripple and the SEC, the panel was confident that XRP’s growth would resume once the case was resolved.

The judge in Ripple’s case changed the proceedings calendar last week, indicating that the case will be resolved before the end of the year. According to the panel, in addition to a court victory, focusing on restoring confidence in XRP by forming partnerships with a greater number of well-known corporations could rekindle a bullish storm for the XRP price.

Nonhlanhla P Dube

Nonhlanhla P Dube is a senior news reporter at Rateweb. Nonhlanhla is a student of International Relations at the University of South Africa. She reports primarily on personal finance and economics. You can contact her directly by email at [email protected]

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