Anna Maria Richards
Ripple’s XRP is one of the most popular cryptocurrencies in the market. While other crypto coins have struggled, XRP remains consistent and deserves more attention due to its value remaining at a solid place compared to the other struggling cryptocurrencies in terms of their price value.
XRP has passionate supporters like businessmen, celebrities, and even lawyers like John Deaton. He is a longtime supporter of crypto and an enthusiast of digital assets, enough to give him a cache in the crypto community.
People want to label it a ‘shitcoin’ but Deaton wants to defend this token lovingly comparing it to a cockroach. It is an animal known as resilient which makes XRP one of the best investments you can look into because of its usage across many industries including the casino crypto space.
XRP’s value has been on a steady rise
XRP is improving its value despite the rest of the crypto market struggling. This is huge for XRP because of the legal battle with the United States Securities and Exchange Commission (SEC). The asset’s value has been on a steady rise since early March of this year.
The price in early April 2023 keeps growing with a current price of $0.51 per XRP asset. Of course, this is below the all-time high of $3.84 but the progress is showing, considering that the supply for XRP is around 51,649,390,115 which is ripe for the taking for crypto investors.
The Ripple vs SEC legal battle has ended
The SEC alleges that XRP’s security is shaky and that two Ripple executives violated the registration provisions of the 1933 Securities Act. After two years of this battle, it looks like Ripple will get by without any issues because they came away with the victory.
This news has further strengthened Ripple and XRP which is seen in the price value. The future of crypto coins is brighter because of Ripple’s win. XRP is a solid crypto coin that can pair alongside the top dogs like Bitcoin and Ethereum.
Ripple CEO Brad Garlinghouse talked about how they are pleased with what they saw in the proceedings and proved they were safe. He said, ‘From the beginning, I thought it was very clear that the facts were on our side, that the law was on our side’.
XRP remains resilient despite the crypto market’s struggles
People have noted that the crypto winter has been a tough period for the industry but Ripple and XRP have done well with their resilience.
Deaton made a good point about defending XRP because its value keeps improving. That is a good sign for Ripple as it becomes more popular in the mainstream and it can stand at the same level in value and reputation as the biggest options in the market.
XRP predictions for the rest of 2023
Some crypto experts believed in the potential of XRP as soon as this year started. With their legal case soon to clear up, there might be more investors who will look into buying XRP. And with more buyers, the asset’s price will also see an increase.
XRP has performed well in the first quarter of 2023 and the long term prediction for this asset is a bullish run. Some also believe that XRP can reach about $0.57. While it’s a long shot to the $1 value that some investors are gunning for, XRP’s run for this year is not a negative prediction.
Should investors buy XRP in 2023?
Bitcoin and Ethereum continue to be the market leaders in crypto and that trend will easily be unchanged for the rest of the year. Despite its legal concerns, XRP is still considered to be a top asset to invest on. It’s one of the top 10 cryptocurrencies in the market right now. Some of the crypto’s benefits include low transaction fees which makes it a good asset to use in international remittances.
Along with the affordable fees, XRP transactions also only take a few seconds before it’s finalised. Finally, Ripple also has partnership deals with major banks. In 2014, they first partnered up with German bank Fidor. American Express, and MoneyGram are a few major institutions that have followed to partner up with Ripple as well.
The crypto market has thousands of assets that are more volatile than XRP and other top assets but it’s still a promising space for investors. They are getting used all over the internet, such as for payment of goods and purchases, casino crypto games, and many more.
