Analyst Predicts 90% Rally for Ripple XRP, Targeting $1.20 by 2023

• Ripple's XRP Recent Performance and Future Predictions
• The Future of XRP According to Crypto Analyst EGRAG CRYPTO
• Potential Future Correction and Rally Scenario
• A Bearish Outlook for Ripple's XRP
• Legal Factors That Could Influence XRP's Price

Ripple's XRP Recent Performance and Future Predictions

Ripple's XRP$0.620 -1.68% has experienced a slight correction in the recent past, declining by 3.5% in the weekly charts and diminishing by 5.7% within the last month. Despite this setback, the asset has accumulated momentum in the daily charts, with its value increasing by 3.2% within a 24-hour period. In addition, since the start of the year, XRP has boosted its value by over 83%, making it one of the most prosperous cryptocurrencies of 2023.

The Future of XRP According to Crypto Analyst EGRAG CRYPTO

EGRAG CRYPTO, a crypto analyst, suggests that XRP's rise in value might continue. The analyst proposes two potential outcomes for the fifth most valuable cryptocurrency by market cap. The first prediction, referred to as the Blue Route, forecasts that Ripple's XRP might exceed the $1.20 mark by the closure of 2023. This potential increase in price would represent a growth of approximately 90% from its current value.

Potential Future Correction and Rally Scenario

EGRAG CRYPTO additionally suggests that, after reaching $1.20, the token may go through a correction, but it might rally back to a new record high of $5.50 by the end of 2024. Achieving this price level would represent a significant growth of about 780% from its current value.

A Bearish Outlook for Ripple's XRP

On the other hand, EGRAG CRYPTO also proposes a bearish outlook for XRP, referred to as the Green Route. Based on this assessment, XRP could potentially fall to approximately $0.50 by Christmas 2023. This drop in price would represent a decrease of about 20% from its current value. Nevertheless, if XRP's price drops to $0.50 by Christmas, it could potentially surge to $22.50 by July 2024. Attaining $22.50 would result in a massive growth of around 3497% from the current price.

Legal Factors That Could Influence XRP's Price

In both scenarios, it's predicted that XRP could experience a significant surge in its value. Nevertheless, a critical factor might impact the price of XRP, namely Ripple's ongoing lawsuit with the US SEC (Securities and Exchange Commission). If the court's decision is in Ripple's favor, the token's value will likely surge. Conversely, a verdict against the fintech company could lead to a substantial decrease in the token's value.

Edited by Jonathan Stoker