XRP Price Prediction Summary For the Year 2023

 

• XRP’s current price is $0.5056, up 48% from the start of 2023.
• The XRP all-time high (ATH) was $3.84 on 4 Jan 2018. Currently, XRP is down 86% from there.
• XRP broke a long-term bearish trendline in August 2022 and now created a higher high.
• With no end in sight for the Ripple vs SEC case, we predict XRP could revisit lows of $0.3245 by the end of 2023.
• Provided Ripple wins its case against the SEC, our XRP forecast predicts a price of $3.50 by the end of 2025.

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XRP Price History

XRP was created in 2012 by the tech company Ripple Labs. Initially, Ripple was called OpenCoin, before changing its name in 2013. The purpose of the crypto was to enable borderless transactions with near-instant settlement for low fees.

According to CoinMarketCap data, XRP’s initial price was $0.005875 in 2013, and after a brief bull run in November 2013, the coin’s price climbed to $0.05238. Following this, the coin’s price crashed and continued to trade mostly below $0.01 until Q2 2017, when the price surged to $0.33.

The price of XRP then consolidated before soaring to its ATH of $3.84 on 4 Jan 2018. However, a crypto bear market followed, with XRP touching lows of $0.1432.

In December 2020, the SEC sued Ripple for selling unregistered securities. This meant that despite the 2021 bull run, XRP could not gain a new ATH, touching $1.9637 at its peak.

From its bull run peak in April 2021, XRP followed a bearish trendline, which it managed to break in September 2022. The XRP price then retested the trendline before bouncing and briefly establishing a new higher high in April 2023.

However, the price has been unable to hold above the previous high. The XRP price chart below shows that it is currently trading in a new support and resistance zone.

XRP Price History Key Points:

• XRP launched with an initial price of $0.005875 in 2013.
• The price surged to $0.33 in 2017.
• XRP reached an ATH of $3.84 on 4 Jan 2018.
• During the 2021 bull market, the XRP price was suppressed due to the ongoing SEC lawsuit.
• The current price is $0.5056, down 86% from its ATH.

XRP Price Prediction 2023

Several factors, both bullish and bearish, are affecting XRP currently. However, the main indicator determining if XRP is a coin that can explode in the short term is its price chart.

Since breaking its bearish trend line, the XRP price has entered an accumulation phase. This is characterised as the first phase of a market cycle, following the end of a bear market. It often comes with high uncertainty and relatively low interest in an asset.

Considering the global economy slowing down, the current crypto bear market and Ripples ongoing lawsuit with the SEC, there is still lots of uncertainty regarding XRP and the broader crypto market.

With this in mind, we expect the XRP price to consolidatefor the remainder of the year, with a potential deviation to the downside in Q3.

Therefore, our Ripple price prediction estimates an average price of $0.38 by the end of 2023.

We could also see possible lows of $0.20 if the price deviates below support or if a “black swan” event occurs. On the other hand, if the broader crypto market picks up, we expect possible highs of $0.56.