The post XRP Price Prediction 2023, 2024, and 2030: Here’s What Analyst Predicts appeared first on Coinpedia Fintech News
Cryptocurrency experts have predicted that XRP, the cryptocurrency issued by top blockchain payment firm Ripple, is on track for a major surge by 2030.
One of the experts, Egrag Crypto, recently shared their prediction, including a forecast that the asset could reach $120 by July 2024.
However, prominent XRP investor and crypto trader, Mack Attack, has set more ambitious targets for the asset, predicting it will hit $550 before hitting a value of $7,000. The expert ultimately expects XRP to hit $10,000 by 2030.
Interestingly, the third analyst, Dark Defender, examined XRP’s price changes from October 2016 to February 2017, when the asset dropped massively to as low as $0.005. If something like this were to happen again, Defender believes the XRP price could hit over $130 by the end of 2023.
XRP’s recent growth comes amid an increase in buying pressure and growing anticipation for the outcome of Ripple’s legal battle against the US Securities and Exchange Commission.
The remittance token also took advantage of the hype of the altcoin season, hitting multi-month highs ahead of the ruling, which is expected to manifest anytime this month. A ruling in favor of Ripple could see XRP soaring to new heights. As of the time this article was written, XRP was worth $0.515.
Increase in Trading Activity
In a related development, XRP’s underlying technology, the XRP Ledger (XRPL), has seen a massive increase in trading activity, processing an average of over 1.4 million transactions daily since mid-March, including a 16-month high of 2.236 million on March 19.
The XRPL is a layer-1 blockchain developed by Ripple. The company has been hard at work on its concept of federated sidechains, which is intended to give developers the ability to customize the XRP Ledger to meet the needs of their individual use cases.
Moreover, Ripple launched the Ethereum Virtual Machine (EVM) sidechain on the devnet in order to port over to the XRPL any existing Solidity-based smart contracts that had been developed for EVM-compatible chains.