XRP is one of the few cryptocurrencies to see impressive price action this year. The cryptocurrency has been in the public eye in recent months, as traders eagerly await XRP to finally embark on a major bull run. However, the crypto has been falling in recent days amid continued market consolidation. Price action shows that XRP is down 9% over a 7-day period and is currently trading at $0.59.
A recent price prediction made by cryptocurrency exchange Changelly suggests that the value of XRP could skyrocket to the moon very soon. Its new price predictions indicate it could rise more than 1,700 times its current value over the course of this decade. This would cause the price of one unit of the token to increase from its current level of around $0.60 to over $11 by 2030.
Changelly’s very bullish prediction
XRP’s growth has been largely held back since 2020 by the The SEC’s lawsuit with Ripple, the technology company linked to the crypto asset. The situation changed recently in July 2023, and XRP is now able to emerge from the shadow cast by this lawsuit.
Although the XRP price chart has bounced off resistance at the $0.70 level and appears to end with a bearish red candle today, the overall sentiment still remains bullish in the long term.
According to XRP price prediction from Changelly, the crypto indicates a Greed of 63 on the XRP Fear-Greed Index. As a result, the exchange sets the monthly closing price at $0.8032, an increase of 33.87% from its current price.
The crypto exchange’s bullish outlook extends far beyond the scope of the current year’s forecasts. Changelly predicted that XRP could surpass its current all-time high of $3.84 by 2027.
Total crypto market cap is currently at $1.3 trillion. Chart: TradingView.com
Assuming the price appreciation trend continues, XRP could surpass the $10 threshold by 2030, recording an average and maximum price of $9.71 and $11.37 respectively. This represents a staggering 1,790% increase from its current price. Additionally, the company also predicts that XRP will reach an average price of $19.91 over the next two years and a maximum price of $23.46 by 2032.
How feasible is this projection?
Currently, XRP is the only cryptocurrency with a clear regulatory status in the United States. Changelly’s price prediction is obviously very optimistic, but it resonates with the greatest feeling among crypto traders and analysts.
In the short term, most analysts expect XRP price will remain volatile but trade in a range of $0.6 to $1 for the remainder of 2023. Very optimistic forecasts have come for a longer period. ERGAG CRYPTO analyst set different targets for XRP price, ranging from $5 to $27. From a technical point of view, the price of XRP is fair entered a dollar cost allocation area (DCA)presenting an opportunity to purchase more xRP.
There is no guarantee that XRP will reach $10 or even come close, but Ripple’s progress with various financial institutions and payment providers fuels optimism about the future value of XRP over the next decade.
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