Ripple: XRP has the right fundamentals to chart a bullish path in 2023, and traders will be well advised to manage their expectations

Of the thousands of digital currencies in existence today, a few have a unique history that generally sets them apart from their peers. XRP is one such crypto-currency, a digital payment currency that is among the oldest in the blockchain world.

XRP was designed to serve as a complementary digital payment token to blockchain payment service provider Ripple Labs Inc.

The coin’s existence has been a myriad for U.S. regulators, fueling a difficult limitation for the coin’s growth so far. While the crypto-currency industry has lived very well with the influence of central banks raising interest rates in an effort to reduce inflation, XRP has had its own significant headwinds that have added to its stunted growth.

The crypto-currency is currently changing hands at $0.389, down 89.88% from its peak price of $3.84. XRP has seen a precipitous drop from a peak of around $1 at the beginning of the year to a low of $0.2906. Despite this drop, XRP has maintained its committed community, and for those looking to invest in the coin next year, here are the crucial price points to look forward to in all months of the coming year;

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  • January 2023: 0.3100
  • February 2023: $0.4000.
  • March 2023 : 1
  • April 2023: $1.2000.
  • May 2023: $1.5000.
  • June 2023: $1.7000
  • July 2023: 2.0000
  • August 2023: $2.2000.
  • September 2023: $1.8000
  • October 2023: $2.5000.
  • November 2023: $2.6000.
  • December 2023: $2.0000.

XRP Projected Price Justification

There is a unique justification for the massive rise expected in March of next year. This justification is based on the likelihood that the ongoing case between Ripple and the U.S. Securities and Exchange Commission (SEC) has ended, and in favor of the blockchain payments company.

If the ongoing securities lawsuit ends in Ripple’s favor, XRP will certainly see a rejuvenation in the way investors view the digital asset. While Ripple argues that the coins serve as payment tokens, the regulator is adamant that the coins were sold to investors as unregistered securities.

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A precedent will be set here, and if it is in Ripple’s favor, it will serve as a positive benchmark for the entire industry. While it is not yet clear when the decision will be handed down, Ripple has had some significant victories against the SEC and many expect a win in this case.

Note that the reverse will also occur if Ripple loses the case and investors place the coin on their watch list, a high degree of caution should also be given to events that may not go as planned.

The coming year holds many impressive but difficult to decipher trends for the digital currency ecosystem. XRP has a strong positioning in the industry and its ecosystem is tight-knit, an advantage the coin has that has helped it remain resilient in the face of its many adversities.

In summary, XRP has the right fundamentals to chart a bullish path in 2023, and traders will do well to manage their expectations.

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