Industry experts make predictions for XRP based on the outcome of the lawsuit filed by the SEC against Ripple. Ripple investors have watched in frustration at how poorly XRP has performed amid the ongoing litigation between the blockchain company and the US Securities and Exchange Commission (SEC).
What do industry experts think of Ripple?
However, the negative performance of XRP caused by the lawsuit may be a thing of the past, as industry experts believe the coin will reach $2.55 by the end of this year. The opinions of 36 industry experts were compiled in a report by finance trend survey platform Finder as part of their effort to understand how the outcome of the lawsuit will affect the price of the sixth-largest cryptocurrency by market cap.
Experts predict that if the outcome of the lawsuit goes in favor of the Blockchain company, XRP will rise over 260 percent to reach $2.55. According to the survey, experts also noted that a result against the blockchain company could see the XRP price drop to $0.68 by the end of the year. Interestingly, analysts have predicted that more levels could be seen for XRP in the coming years as they believe a positive outcome in the SEC case will cause the coin to rise to $3.61 and $4.98 in 2025 and 2030, respectively.
There is also Negative XRP forecast
Meanwhile, not all analysts believe that XRP will see tremendous growth by the end of the year. According to Daniel Palotsky, founder of CoinFlip, XRP will only rise as high as $0.90 before the end of 2022. Similarly, Matthew Harry, head of fund at DigitalX Asset Management, stated that the only time XRP could rise above $5 before the end of the year was when Ripple won the case.
Out of 36 industry experts who gave their thoughts on the XRP price after the outcome of the lawsuit, 23 percent recommended people to buy cryptocurrencies, while 45 percent recommended investors keep holding it. Also, 32 percent of panelists suggested that people should dump their XRP holdings to avoid further losses as they thought Ripple could not achieve victory over the SEC. Meanwhile, the case is fast approaching summary judgment and all motions and responses are expected to be submitted by mid-November 2022, suggesting the case could be finished before the end of the year.
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