The ongoing dispute between the SEC and Ripple, and Judge Analisa Torres’ XRP After the decision that the token’s sales on cryptocurrency exchanges are not securities sales, things have changed a lot for the altcoin. Financial experts, who follow the industry closely, commented on whether the price of the asset could exceed $5 in 2023.
In addition to the positive decision in the Ripple case, financial experts also consider technical indicators in price and important developments in its ecosystem.
According to Sudhir Khatwani, founder of The Money Mongers, XRP could indeed reach level 5 in 2023 due to renewed optimism. But it also risks witnessing a “significant price correction” due to the volatility factor. The factors that will determine the course of the price will be the trend in the cryptocurrency market and the progress in the Ripple company.
Jake Hill, CEO of DebtHammer, XRP priceAlthough he sees it as a “miracle” to reach $5, he thinks it is not completely impossible:
This court ruling is definitely a win for the cryptocurrency world, but it’s not the key to unlocking the $5 prices for XRP. That’s roughly a 900% increase, which is pretty high for any asset. However, XRP is the only cryptocurrency that surpasses the market cap of Ethereum (ETH) and is known for its periodic rallies. These factors can easily push XRP to $5 and beyond in the right conditions.
Carter Seuthe, CEO of Credit Summit Consolidation, a debt relief advisory organization, stated that Jake Hill does not share his optimism about the price of XRP in 2023.
Instead, he believes such growth will have a chance to happen gradually over the next few years. According to Seuthe:
I do not expect XRP to reach $5 at any point in the near future. Considering that it has already dropped below $1 since the decision, I would expect growth to occur gradually over the next few years. Fluctuations as we have seen in XRP tend to be rapid and temporary and should not be a sign of massive future growth.
Finally, Ben Michael, an attorney at Michael & Associates, called the recent court decision in the Ripple case “incredibly strange” because he states that “XRP can be treated like a security for institutional investors, but not for individual investors,” which opens up more questions and answers in his opinion.
In the long run, what we really need in this area is clear regulation, and until we get that, there will be a lot of uncertainty in the crypto market. Regarding the price of XRP, I don’t think it will reach $5 this year without further regulation.
You can follow the current price action here.