2022-5-5 20:20 |
A new report by finance trend survey platform Finder has projected Ripple’s (XRP) price to hit $2.55 before the year ends.
The report, which was updated on May 4 entailed consulting a panel of 36 industry experts for their thoughts on how XRP will perform over the next decade should Ripple win or lose the case against the Securities and Exchange Commission (SEC).
Despite XRP losing over 84% in value since tapping an all-time-high of $3.84 in January 2018, the report projects XRP price to jump over 260% for the remaining duration of this year to $2.55 if Ripple wins its case with the SEC. However, should Ripple lose, the value of the coin could tumble to $0.68. The current report lowers an earlier projection, where another panel of fintech specialists earmarked a high of $2.79 for XRP before year-end.
The panel further believes that XRP’s value will tap at $3.61 by the end of 2025 before rising further down the road to $4.98 by 2030. As of writing, XRP is trading at $0.61.
Despite the aggressive projections, not all panelists believed that XRP could reach the said prices. Matthew Harry, the head of funds at DigitalX Asset Management for instance believes that XRP might only tap $5 before December 31, 2022, should Ripple win its case. To him, XRP’s behavior only proves that it’s a speculation asset devoid of any real value.
“The XRP token is worthless for anything other than speculation. The underlying technology is terrific but the token itself does not currently have a use, it simply attracts speculators as it is cheap and an easily digestible value prop – none of which is born out in the token.”Harry said.
CoinFlip founder, Daniel Polotsky gives an even more chilling prediction, noting that XRP might only top at $0.90 before year-end. He also sees the crypto asset relying more on hype than its actual usage.
With that, only 23% of the panel recommended buying XRP, with 45% opting for HODL while 32% said now is the time to cut bait. That said, despite XRP suffering the bruises of an ongoing legal battle between Ripple and the SEC, the panel was confident that XRP’s growth will thrust back if the case is concluded.
Last week, the judge in Ripple’s case modified the proceedings calendar, signaling a closure of the case before the year lapses. As per the panel, in addition to a court win, focussing on rebuilding confidence in XRP by forming partnerships with an increased number of big-name corporates could also reignite a bullish storm for XRP price.
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