XRP price has been a hot topic in the cryptocurrency space, with investors eager to see if its price can finally break out. On Tuesday, October 22, XRP opened trading at $0.54, and despite having been hovering in a tight 2% range for the past week, many are wondering if a big price move is imminent.
How has the XRP price moved recently?
As of today, XRP is priced at $0.540537 with a 24-hour trading volume of $1.8 billion. Its market cap is $30.57 billion and its market share is 1.30%. In the past 24 hours, XRP's price has fallen by 2.23%.
XRP reached its all-time high of $3.92 on January 4, 2018, and its lowest price was $0.002802 on July 7, 2014. Since its all-time high, the lowest price has been $0.113268, while the highest price has been $1.97793. Currently, the market sentiment around XRP remains bearish, with the Fear and Greed Index showing 70, which indicates "greed."
XRP has a circulating supply of 56.56 billion and a maximum supply of 100 billion. The annual inflation rate is currently 5.84%, which means that 3.12 billion new XRPs have been minted in the past year.
XRP Price Prediction: Can XRP escape legal uncertainty and soar to the sky?
XRP’s smaller recent gains may be related to its ongoing legal dispute with the U.S. Securities and Exchange Commission (SEC), which continues to cast a shadow over the token.
While other cryptocurrencies such as Bitcoin, Ethereum, and Solana have rallied on positive macroeconomic trends, XRP has lagged behind, struggling to break above the $0.60 mark. Uncertainty surrounding Ripple’s legal status, especially with regard to its institutional sales, has kept investor confidence low, limiting the potential for significant price gains.
Ripple won a partial victory last year as sales to individual investors were deemed not to violate securities laws, which gave the market a sigh of relief. However, unresolved issues related to institutional sales still left the market with many questions.
Ripple has been filing more documents to clarify this, but the cloud of regulatory uncertainty remains, limiting any significant upside in XRP’s price. Investors are understandably cautious, waiting for more clarity on the legal dispute before investing heavily in the token.
Looking ahead, XRP price action will likely remain subdued until legal uncertainty is resolved. If Ripple is able to reach a more favorable outcome with the SEC, we may see a boost in investor confidence, which in turn could drive XRP prices higher.
But as long as the legal battles linger, don’t expect XRP to catch up with the recent gains of other top cryptocurrencies. It will likely continue to hover below key levels, waiting for the regulatory fog to clear before it can really take off.
XRP Price Prediction: How High Can XRP Price Go?
When considering how high XRP’s price could go, it’s important to consider both its recent performance and broader market factors. Over the past year, XRP is up just 3%, but it’s underperforming 78% of the top 100 crypto assets, including major players like Bitcoin and Ethereum.
This underperformance, coupled with XRP trading below its 200-day simple moving average (SMA), suggests that the token is struggling to gain the same traction as other cryptocurrencies. Additionally, XRP has only recorded 14 green days in the past 30 days, further indicating a lack of sustained upward momentum.
Despite these challenges, XRP’s high liquidity relative to its market capitalization makes it likely to see significant price movement once certain hurdles are resolved, such as its ongoing legal issues.
Liquidity is a key factor that enables a token to respond to large buy orders without experiencing a significant downturn, which would help XRP rebound if investor sentiment improves. However, it is also important to consider that XRP is still down 86% from its all-time high of $3.92, leaving plenty of room to recover.
It is foreseeable that if Ripple resolves its legal issues with the SEC and regains market confidence, XRP could see significant growth, but it may face challenges in reaching or exceeding its previous all-time highs.
The token has an annual inflation rate of 5.84%, which means that more XRP enters circulation every year, which could put downward pressure on prices unless demand increases significantly.
If positive news regarding the SEC case emerges, we could see XRP break above its current resistance level and potentially move towards the $1 mark in the short term. However, any sustained rally would likely require broader market support and a significant boost in investor confidence.
In the long run, if Ripple is able to fully clear regulatory hurdles and XRP re-emerges as the asset of choice, its price could return to its previous highs, but this will depend on several external factors, including market conditions and global adoption trends.
