As the Ripple-SEC case seems to be slowly winding down, several crypto investors and prominent XRP proponents have been weighing in on the possibility of the digital token reaching the $10 price point in 2023.
XRP trading at $10 per coin isn’t impossible, given the many use cases and wide adoption the crypto asset has received over the years. But looking at the price of XRP at the time of writing, it may take several months or even years for the sixth-largest cryptocurrency by market capitalization to clock such a high value.
At press time, XRP is exchanging hands at $0.5287, following a 4.63% increase in the past 24 hours. With this current value in mind, XRP would need to increase by 18.9 times to reach $10 per coin.
It is commonly believed that a win for the Silicon Valley technology company Ripple in the longstanding XRP lawsuit against the United States Security and Exchange Commission (SEC) could catalyze XRP’s price growth in the coming months or years, putting it in the direction to $10 per coin.
Numerous Positive Developments: XRP at $10 Price Point?
Already, the numerous positive developments such as the absence of XRP on the list of crypto assets deemed as securities by the SEC in its Monday lawsuit filed against the most popular crypto exchange Binance have created a bullish atmosphere for the XRP token.
Likewise, a top attorney Jeremy Hogan shared a document from the US Supreme Court that proved that XRP isn’t a security outside its initial investment contract.
But in a scenario where the SEC wins Ripple in the lawsuit to maintain that XRP is a security, the crypto asset may record a sustained downtrend. Interestingly, many experts have submitted that Ripple is more likely to win the XRP lawsuit.
On the other hand, many technical analysts including Peter Brandt and Egrag predict a bullish season for XRP in the coming months. While the veteran investor Brandt expects XRP to reach $3 by the end of the year, Egrag noted that $10 and $27 are on the card for XRP.