XRP coin has always been a cryptocurrency with big ambitions. But daring to dream comes with quite a bit of baggage. RippleNet has proven to have incredible function in DeFi not only for its currency, but a robust payment infrastructure. The provided services for the banks and financial institutions have been successful in cutting costs as well as transaction speed. You can read our extensive review of Ripple here.
However, no network is perfect. The Achilles` heel in case of ripple is the not so decentralized aspect of the network. If you have been following the news, we know that the U.S. Securities and Exchange Commission has an active lawsuit against ripple. A vast majority of concerns that SEC has expressed are due to the more centralized aspect of Ripple. Essentially, SEC argues that Ripple co-founder Christian Larsen and CEO Bradley Garlinghouse sold XRP Coins in unregistered security offering to investors in order to raise funds while providing very little information about its business, Read the official press release here.
Unfortunately, the lawsuit did have a negative impact on XRP Coin price. Despite the ongoing investigations, XRP coin has managed to bounce back from the plummet and is now recovering.
As of today, August 31, 2021, XRP Coin price stand at $1.129.
But the question is, considering all the challenges as well as the great potential, how does the future look for XRP coin?
How does the future look for XRP Coin?
In terms of price targets, DigitalCoin predicts XRP Coin to reach $1.64 by the same time next year. And as for 2022, they believe Ripple will stand above $2. Meanwhile, Long Forecast has a much more bearish stance on XRP Coin. They believe Ripple will trade between $0.76 and 0.96 by next year.
For a long-term outlook, Digital coins expects XRP coin to be around $3.70. However, Long Forecast remains bearish, believing XRP will go down to $0.23.
In that regard, the predictions and targets are convoluting at best. It seems that the SEC lawsuit decides the fate for XRP.
What do the Investors think?
Amongst the cult following of Ripple hodlers, there are many who believe XRP will come out triumphant. Subsequently, it will be the very first fully regulated cryptocurrency. In that case, it will have huge regulatory advantages leading banks and institutional investors to adopt the RippleNet. For that sweet scenario, XRP might reach above $10.
Speculations aside, we should wait for the lawsuit results in order to make the next move for our XRP investments.
Where can I Buy XRP coin?
You can buy or cash out you XRP in HiExchange with the best possible rates. We utilize a fully automated system that determines the best rats at any moment. To make it an even better deal, our exchange offers 24/7 customer support. Finally, If you would like to follow our daily technical price analysis for XRP as well as the updates on the ongoing SEC lawsuit, follow our blog posts.