XRP is one of the few cryptos with impressive price action this year. The cryptocurrency has been in the public eye in recent months as traders eagerly waited for XRP to finally embark on a major bull run. However, the crypto has fallen in recent days amid continued market consolidation. Price action shows that XRP is down 9% in a span of seven days and is currently trading at $0.59.
A recent price prediction from cryptocurrency exchange Changelly suggests that the value of XRP could soar to the moon very soon. According to the new price forecast, the price could rise more than 1,700 times its current value this decade. This would cause the price of one unit of the token to rise from the current level of around $0.60 to over $11 by 2030.
Changelly’s very bullish forecast
XRP’s growth has been largely held back since 2020 by the SEC lawsuit with Ripple, the technology company connected to the crypto asset. The situation recently changed in July 2023, and XRP is now positioned to step out of the shadow of this lawsuit.
Although the price chart of
According to Changelly’s XRP Price Prediction, 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 the current price.
The crypto exchange’s optimistic outlook extends far beyond the scope of this year’s forecast. Changelly predicted that XRP could rise above its current high of $3.84 by 2027.
Total crypto market cap is currently at $1.3 trillion. Chart: TradingView.com
Assuming the price increase trend continues, XRP could cross the $10 threshold by 2030, with an average and maximum price of $9.71 and $11.37, respectively. This represents a staggering 1,790% increase from the current price. Furthermore, the company expects XRP to reach an average price of $19.91 in the next two years and a maximum price of $23.46 in 2032.
How feasible is this projection?
Currently, XRP is the only cryptocurrency with clear legal status in the US. Changelly’s price forecast is clearly very bullish, but resonant with the greater sentiment among crypto traders and analysts.
In the short term, most analysts expect XRP price remains volatile but trading in the $0.6 to $1 range for the remainder of 2023. Very bullish predictions have been made for a larger time frame. Analyst ERGAG CRYPTO has set several targets for the price of XRP, ranging from $5 to $27. From a technical perspective, the price of XRP is ordinary entered a Dollar Cost Averaging (DCA) zonewhich provides an opportunity to purchase more xRP.
There is no guarantee that XRP will reach $10 or even come close, but The progress of Ripple with several financial institutions and payment providers fueling optimism about the future value of XRP over the next decade.
Featured image from Pixabay
