Cryptocurrency trading has become a relatively huge business over time, especially for individuals who are just making their way into the trading space, hedge fund managers, institutional traders, and some sectors of Wall Street. Those who’ve been a part of the crypto industry for some time now must already be familiar with Ripple (XRP). Despite XRP having undergone several fluctuations, its price stood remarkably high throughout 2021.
The real question is, “Is Ripple (XRP) still worth buying in 2022?” The answer is yes, although the future of Ripple (XRP) is currently debatable due to its litigation with SEC and former delisting among numerous significant exchanges. Most experts predict the XRP value will grow, and it can create a much more robust bull run if the SEC litigation is settled and Ripple provides the first crypto initial public offering (IPO).
XRP Price Movement Throughout 2021
XRP, the token created by the US Company Ripple, is one of the most significant cryptocurrencies in the market. Compared to other tokens, XRP functions in a relatively distinct way. As a result, it brings plenty of new and exciting opportunities.
Ripple’s XRP initially started at a low price in 2021. It was only on January 30th, 2021, when XRP managed to break above $0.40. After this development, the cryptocurrency was trading within a relatively narrow spectrum of $0.40 to $0.60. This lasted from the end of the first month till April 4th.
April 5th was when the strong uptrend began, which lasted until a week or so, when the price reached $1.80 (which was the highest value as of January 2018). This increase resulted due to 2 court rulings in favor of Ripple’s XRP. Once again, XRP’s rate plummeted twice from April to June, where it declined from $1.83 to $0.51.
This took place when a trial was going on between Ripple and Securities and Exchange Commission (SEC). However, the primary reason for this declining trend was due to the crypto market’s negative dynamics. The SEC asked to prolong the case consideration by 2 months, which was granted by the court.
As a result, the cryptocurrency rate rose from $0.51 to $1.39 from June till the start of September. The ups and downs kept continuing. On November 9th, the company finally announced the launch of a marketplace for financial companies, enabling them to offer their clients a chance to buy, sell, and hold cryptocurrencies at the most lucrative market prices.
This platform, known as Liquidity Hub, was scheduled to start in 2022. Still, the news couldn’t cause the cryptocurrency’s value to increase, and its value further plummeted by 16% on November 10th, 2021.
On December 31st, XRP traded near $0.83, and the price fell by more than 33% in just under 2 months. The company lost around 30% within one day on December 4th. Ripple was the most significantly and negatively affected cryptocurrency amongst the entire market drop.
It was believed this substantial fall was due to the company’s volatile market position, which was primarily driven by the SEC lawsuit. However, litigation isn’t always a reason for cryptocurrency prices to fall.
There are many instances when this kind of news can push the value of XRP upwards. For example, XRP rose by more than 20%. XRP rate depends on the general market scenarios, news, and rumors. If the crypto market continues to expand and the company wins the litigation, XRP is bound to see significant increases.
However, by buying Ripple’s XRP, you’re at a higher risk of uncertainty until the court case does not clear up. It is another case with trading. From the past patterns, it can be seen that the rate of this cryptocurrency is quite sensitive to rumors and news. It reflects drastic movements, both decline, and growth. You can take a chance on both XRP’s growth and fall by trading.
XRP Price Prediction in 2022 According to Crypto Experts
Indeed, the crypto asset world is volatile, and every crypto asset is bound to face difficulties throughout the year, just like XRP. Ripple’s dispute vs. the SEC ups the chances of XRP’s rate plummeting anytime. But despite all, it is predicted that XRP will remain bullish in the long-term.
The price prediction for XRP seems more optimistic this year than the figures for 2021. An average price of $0.86 is evident for 2022. However, it could surge or drop depending on how soon the SEC will provide the company with an update.
Being one of the top 5 most-search cryptocurrencies, price predictions in the short-term observe an uptrend, backed by a bullish sentiment of up to 20 percent over the past 24 hours. Another renowned online activity monitoring platform for crypto experts, Lunar Crush, displays a 65% XRP purchase rating amongst crypto investors.
With Ripple’s XRP touching the $1 mark in 2018 for the first time, is it possible that this token can exceed the all-time high of $3.84 in the short run? Peter L. Brandt, a crypto expert, shared through his personal Twitter account that the current price patterns reveal a high potential for XRP to reach such a whopping value.
Here is what some of the most well known sites have to say regarding XRP price predictions in 2022:
1. Digital Coin
According to predictions made by Digital Coin, the average XRP price is estimated to reach $1.14 in 2022. The site also forecasts that by 2023, the value of this particular token can rise to $1.34. In the long run, DigitalCoin believes that the average value of XRP can climb up to $1.67 in 2025, and by 2029, the amount could go as high as $3.51.
According to PricePrediction, the average XRP value was projected to reach $1.22 in 2022 and a whopping $3.63 in 2025, indicating the price of XRP will continue to rise in the long run.
3. Crypto Ground
Crypto Ground’s predictions for Ripple (XRP) can be declared promising. According to the source, it is expected that the cryptocurrency’s price will be valued above $1 by the end of 2022. On the last of December, the rate of XRP will be $1.05.
4. Gov Capital
Gov Capital estimates that by February 2023, XRP will reach a new high of $1.34 and an astonishing $4.84 by the end of 2026.
5. Wallet Investor
Even though the XRP price will move over $1 in November, the trend will generally remain bullish. The cryptocurrency will touch its highest price by the end of 2022, which will be $1.60. Still, the mere differences between high and low prices signify high volatility.
Along with its robust bullish nature, it is quite likely that Ripple will go above $1 once again in 2022. This amount could go up to $1.50-$1.80 if it follows the same trading trajectory as of 2021.
Is it Worth Buying Ripple (XRP) in 2022?
The inability to hit $2 this year doesn’t indicate that Ripple will never make it. Long-term forecasts for XRP provide a more optimistic view vs. the short term. As of this writing, out of 100 billion, 47.9 billion Ripple tokens have already made their way into circulation.
This indicates that roughly 50% of the total is already minted. As a result, this ups the chance for an increase in the price in the long term. The cryptocurrency’s price predictions for 2023 reveal that the average price will vary somewhere between $1.02 – $1.27.
If Ripple Laps is able to bring in more positive developments and partnerships in 2022, a value of $4 seems imminent.
The events of the previous year and this year’s beginning have confirmed that the USD/XRP pair still have significant dubious characteristics. However, this pair still produces volatility and volume.
XRP has proved time and time again that it can triple its capacity and lose practically everything. This makes it a crucial point for aggressive traders. If you want to invest in crypto assets for the long term, it is still not too late to invest in XRP in 2022.
Still, after viewing some of 2022’s XRP price predictions made by cryptocurrency experts, it is essential to remember that such a significantly volatile crypto market tends to make it hard to foresee currency prices in the upcoming years.
Not to forget, the company and its token’s future is incredibly dubious due to the former delisting by a renowned cryptocurrency exchange and the emergence of a lawsuit with the SEC. Even if XRP is able to settle the litigation with SEC, there can be a potentially more dynamic bull run in the cryptocurrency’s price.
As such, Ripple’s XRP is an ideal choice for crypto investors who like cryptocurrencies based on a top-down investment approach, so they can quickly expand their portfolios.
If you are eager to invest in Ripple’s XRP this year, it is always recommended to do a bit of your own research, closely observe the latest XRP news and market trends, fundamental and technical analysis, and take opinions from experts before investing.