Key Takeaways
- XRP drops 3.3% to $2.13, marking its fifth straight loss amid uncertainty over the SEC’s next move in the Ripple case.
- The April 3 SEC closed meeting could trigger hopes for XRP-spot ETF approvals and a push to lift the institutional sales injunction.
- Over 11,000 banks tested XRP on SWIFT’s network, stoking speculation of a significant remittance breakthrough.
Contrary to what industry players expected, the projected positive impact of Ripple’s decision to drop its cross-appeal in the SEC vs. Ripple case didn’t ignite the highly anticipated XRP price breakout. XRP continued its losing streak over the weekend, shedding 3.3% of its value to close at $2.1347.
Onchain data shows that immediately after Ripple Chief Legal Officer Stuart Alderoty announced the withdrawal of their legal action and instead favored settlement terms aligning with Judge Analisa Torres’ Final judgment, the XRP price fell by 11%. Nonetheless, the US Securities and Exchange Commission (SEC) hasn’t uttered a word on its appeal strategy, leaving analysts and other industry players guessing the agency’s next move. Interestingly, the XRP price has dropped 15% since Ripple CEO Brad Garlinghouse stated their action.
11,000 Banks Testing XRP
With the next closed SEC meeting expected to take place on April 3, there is now high speculation that a post-meeting announcement of the official withdrawal of the case could achieve what the company’s announcement failed to and potentially sustain current price levels. Should the securities regulator officially withdraw the case, the decision could accelerate court filings intended to vacate Judge Torres’ injunction prohibiting XRP sales to institutional investors, the anticipated Spot ETF approvals, and Ripple’s US expansion and broader XRP adoption.
While the foregoing could be pivotal for Ripple’s US expansion plans and broader adoption of its remittance platforms, Ripple has been trying to expand its niche into the remittance space. According to a former SWIFT employee, at least 11,000 banks are trialing and have successfully tested the XRP network, highlighting a growing surge in demand. In the last few days, there have been reports that SWIFT and Ripple are on the way to ink a deal to use XRP in their cross-border payment program.
XRP Could Permeate the US Financial Market
Experts also believe that apart from withdrawing the SEC appeal and the final judgment, XRP’s near-term trajectory also depends on the anticipated XRP ETF approvals. There’s news that an upcoming SEC meeting this Thursday could change XRP’s perspective on its investors. The discussion could provide direction on the anticipated spot XRP ETF approval and other regulatory reliefs for the token. Even though the XRP ETF approval process is positive, it could propel Ripple into the US financial markets and attract greater institutional investment.
Conclusion
Most experts believe the XRP price outlook is hinged on the anticipated regulatory developments, primarily based on an expected favorable settlement. An official withdrawal of the SEC appeal, the growing demand for Ripple products such as the spot XRP ETF, and any deal with SWIFT could be the missing link for the almost elusive XRP price action and push the price to $3.5505. Nonetheless, any delays to the appeal withdrawal or failure to get a settlement and the stalling in SWIFT deals could negatively impact the XRP price and drop it to below $1.50.
Frequently Asked Questions (FAQs)
What is a realistic price prediction for XRP in 2025?
Analysts believe the best XRP price prediction is that the token’s price will reach between $3.52 and $4.29 at its peak in 2025, starting at around $2.44 at the beginning of Q2 and progressively climbing through the year.
Is there any chance that XRP will reach $10?
Yes, analysts believe XRP could reach $10 or more by 2030. This optimism stems from the SEC dropping its lawsuit against Ripple Labs, which has boosted confidence in XRP’s future.
Is XRP a good investment?
The XRP price forecast states that XRP is expected to grow steadily after 2025, starting at $3.24. The 12-month average forecast indicates moderate volatility, highlighting March and April as promising months for investments; this makes it a good investment.
