Why XRP Will Be Priced More Than $3 In 2023?
Compared to other projects in the crypto world, the Ripple community has been pushed more to comply with regulatory stuff. This drastically affects the XRP price. During the last bull market, XRP wasn’t able to hit or even break its ATH ($3.40).
But with its price trading right at $0.50, this gives more reasons for investors to become bull on XRP once again.
Millennial investors have been criticized for their sense of not being able to invest in traditional financial instruments. It is apparent here, as cryptocurrency investors are always expecting something great to happen with their investment.
Reason 1: New partnerships
While the bear market is a tough thing to swallow, now is an opportunity for Ripple to work on its outstanding partnerships. These partnerships are not just one-off deals with Fortune 500 companies.
In the previous quarter when the XRP price was below $0.50, XRP has entered partnership agreements with some foreign payment providers to grow the capacity of XRP capability.
Reason 2: Fewer Banks
In the recent quarters from the last year, banks have been releasing data that shows their interest in using blockchain-based technologies.
The developments that led to XRP’s price increase are the partnerships and technology improvements in the Ripple team. This change is not just some small thing or a side project of Ripple.
Reason 3: Ripple team has been doing this work for the last few quarters, and they have had the necessary resources to do so.
The drastic change that happened in the market recently is another reason why people are turning bullish on XRP. There is a new bull run in the crypto market, and this can help XRP to take another historical price.
Financial analysts have predicted XRP to hit over $3 by 2023. With all things considered, this is not a hard thing to achieve. Even with the current price trading at $0.50, XRP still has a lot of room for movement.
What does this mean?
People have been expecting that the XRP price will reach around $3-$3.50 by 2023.
With more than two years left before that happens, it will depend on how Cryptocurrencies are embraced by traditional financial institutions and the population in general. The day when XRP hits triple figures is not far. But we have to wait more than two years for it. This will not be very hard to achieve if the market keeps growing at its current rate.
Finally, it seems as though ordinary people can see the importance of XRP. Why? Because of an increasing population and the number of people who know how to use cryptocurrency, the world would see a higher demand for XRP in the future.