The Latest Fate of XRP and the Ripple Labs Case

Several weeks ago the US Securities and Exchange Commission (SEC) withdrew its lawsuit against Ripple Labs executives, CEO Brad Garlinghouse and Chris Larsen, regarding violations of securities regulations. The SEC's step back was after the issuance of a decision by US District Judge Analisa Torres, which determined that the sale of XRP on crypto exchanges did not constitute an unregistered securities offering. However, the SEC also caught wind, as the judge found that offering XRP to institutions was unlawful. Thus, the Ripple Labs company will continue to face the SEC in the next several hearings, scheduled for April 23, 2024.

Reporting from a number of sources, the market is still projecting a positive attitude towards the price of XRP. XRP price predictions for 2023 show a wide spectrum of estimates, reflecting the inherent volatility of the cryptocurrency market.

Predicted prices for XRP in 2023 vary significantly, with some sources predicting a high of up to US$4.16, while others anticipate a lower figure of around US$0.5. On average, predictions range from US$0.579942 to US$1.47, with expected fluctuations throughout the year.

There was a mix of conservative and optimistic predictions from analysts. While general forecasts suggest a price range of US$1 to US$10, some analysts, including Wells Fargo's Shannon Thorpe, are proposing a more ambitious range of US$100 to US$500. This higher estimate is based on XRP's potential to compete and capture a portion of the market currently served by systems like SWIFT.

According to BitScreener, XRP could peak at US$0.9195 in 2023, with a potential bottom of around US$0.2763. Their long-term predictions for 2030 and 2040 show possible highs of US$1.90 and US$3.01, respectively, indicating a bullish outlook over the long period.