- XRP will barely move from its current price and will end the year at $1.23, a study by Finder has claimed, polling several experts in the field.
- Finder’s James Edwards told CNF that the future is looking bleak for XRP, with the SEC weighing heavily on it and its use diminishing drastically in recent months.
Analysts, industry leaders and chartists have all predicted Bitcoin will shoot up and end the year above $100,000. However, they are not as optimistic when it comes to XRP. A recent survey that polled some of the sector’s brightest minds found that most don’t expect the cryptocurrency to shoot up before the year ends. Many don’t even think the cryptocurrency can survive the current lawsuit against Ripple for securities violation.
The Finder.com’s XRP Predictions Report found that on average, the panelists predicted XRP to end the year at $1.23 and hit $3.54 by the end of 2025. For context, XRP is currently trading at $1.25 after gaining 1.1 percent in the past day. At its height in January 2018, it set an all-time high at $3.84, which implies that even in the next three years, the polled experts don’t expect the cryptocurrency to retest its all-time high.
The panelists included Sagi Bakshi, the CEO of Coinmama cryptocurrency exchange. Bakshi is one of those who predict a bleak future for XRP. According to the press release by Finder.com, which the Australian company shared with us, Bakshi predicts that XRP will end the year at $1.50. However, this is as good as it will get for the cryptocurrency, he believes, predicting that by the end of 2025, it will be trading at just $0.50. His reason is that “there is no need for this coin and the XRP network can work without it.”
Konstantin Bokyo-Romanovsky also believes the cryptocurrency has a bearish future. The founder and CEO of Allnodes, a hosting and staking platform, predicted XRP at $0.9 by year-end and $1.01 by 2025.
“XRP won’t survive the SEC, but will return to exchanges”
For many of the panelists, the biggest reason they’re bearish is the big cloud hanging over XRP’s head – the lawsuit by the U.S Securities and Exchange Commission. Many believe that while Ripple may get away with fines, penalties and restrictions, the damage will be done for XRP in the market. This is despite Ripple seeming to hold its own in court in recent months.
James Edwards, a cryptocurrency expert at Finder.com told CNF:
XRP still feels like a gamble at the moment, with investors betting on whether or not Ripple will succeed against the SEC, which is investigating the company for securities fraud, based on the way the XRP token is controlled and issued.
In my opinion the use-case for XRP has diminished severely with the widespread adoption of stablecoins, and Ripple itself is not dependent on the XRP token to achieve its wider business objectives.
There are those who are more optimistic about Ripple’s chance against the SEC and XRP’s future. Allnodes CEO Bokyo-Romanovsky, while bearish about the short-term prospects of the cryptocurrency, believes Ripple will survive the SEC scare in the long-term.
He told Finder:
The SEC indeed had an impact on the price of Ripple, causing panic-selling among traders. Therefore in the short term, the coin might remain under a dollar. But XRP has a strong foothold with banks and traditional institutions and, by design, should rise in value over time with an increase in further adoption.