Industry Experts Assess the Likelihood of XRP Reaching $5 in 2023

Technical Expert Commends XRP’s Resilience, Suggests It Could Lead the Market

In the wake of Ripple’s landmark victory against the SEC, numerous analysts have floated predictions of XRP at $1, $3, and $5 price points. However, the feasibility of these forecasts remains a topic of debate among the following four industry leaders.

Insight: The Money Mongers Founder

Sudhir Khatwani, Founder of The Money Mongers, a reputable crypto think tank, expressed optimism regarding XRP’s potential to reach $5 by 2023. While he acknowledged the inherent volatility in the market, he believes that Ripple’s court victory has instilled confidence in XRP’s future.

Khatwani emphasized that various factors, including market interpretation of the court ruling, broader crypto trends, regulatory updates, and Ripple’s progress, will shape XRP’s trajectory.

Insight: DebtHammer CEO

CEO of DebtHammer, Jake Hill, also recognized the significance of Ripple’s courtroom win. However, he acknowledged the substantial challenge of achieving a $5 price for XRP.

Hill highlighted XRP’s past successes in surpassing Ethereum’s market cap and experiencing intermittent rallies. Considering these factors, he suggested that XRP could surpass the $5 threshold under favorable conditions.

Insight: Michael & Associates

Ben Michael, an attorney at Michael & Associates, voiced perplexity over the disparate treatment of XRP for institutional and individual investors following the recent court ruling.

This inconsistency within the regulatory framework surrounding XRP raises questions and creates uncertainty. Michael emphasized the need for clear regulations in the crypto space. He said without clarity, it might be difficult for XRP to reach $5 this year.

Opinion: Credit Summit CEO

Carter Seuthe, CEO of Credit Summit Consolidation, approaches XRP’s price surge with less optimism. He pointed to the token’s recent correction below $1 after the court ruling, indicating a more gradual growth trajectory for XRP in the coming years. Seuthe cautioned against expecting rapid and sustained surges, suggesting that significant price spikes to reach $5 might not be immediate.

Currently, XRP sits at around $0.7125, marking a 24% decline from its high of $0.9380 following Judge Analisa Torres’ verdict. Despite intermittent declines, XRP has held above the $0.70 territory.

Over the past week, the token has experienced a decrease of 10.95%, while showing a 47% increase over the last 30 days. In the event of an uptick, XRP may encounter resistance at $0.77, but if bearish sentiment takes over, it could test support levels at $0.6530.

As the year progresses, the industry will closely monitor XRP’s performance to see if the predicted $5 milestone becomes a reality or remains an ambitious target for the digital asset.

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Adedoyin Aka

Adedoyin is a graduate of Law and a Crypto & Blockchain expert who strongly believes that Blockchain is the future. At TimesTabloid, she focuses on crypto and blockchain educational content.