The XRP price has seen more of a sideways movement in the last few weeks. Previously, the price rose massively after positive news about the legal dispute with the SEC. But in which direction will the XRP price move in the next few months? Can XRP price reach 3$ if the SEC lawsuit is resolved? Let’s analyze in this XRP SEC update.
How did XRP price move in the last few weeks?
The XRP price has seen more of a sideways movement in the last few weeks. The price has been hovering around the $0.45 level for the past 2 weeks. About a month ago, the XRP price saw a sharp increase. From $0.36, the XRP coin rose to a value of $0.57.
The XRP price has been significantly higher since the beginning of 2023. At the turn of the year, the rate was still $0.34. This means that the XRP coin has risen by around 25% to date. This increase is significantly lower than the increase in the Bitcoin price and other Altcoins.
What else is holding the XRP Price back?
While Bitcoin has risen by 90% since the beginning of the year, the XRP price has lagged behind. On the one hand, this is due to the typical developments within a bear market. In the bear market, bitcoin usually performs better than altcoins.
On the other hand, the legal dispute with the US Securities and Exchange Commission (SEC) continues to burden the XRP coin. Ripple, the company behind XRP, is accused of illegal securities trading. The sharp rise in XRP a few weeks ago was triggered by positive news of a possible verdict. The verdict is expected in the coming weeks.
Can XRP Price reach 3$?
The outcome of the legal dispute is still open. While those close to Ripple expect an acquittal, the SEC is confident Ripple will be convicted. However, should there actually be an acquittal, the XRP price should be able to rise massively.
A move above $1 seems almost certain in this case. But some investors hope that the XRP price could approach the all-time high of the XRP coin again. This is $3.84. A move to $5 would be the strong bullish scenario here.
A price explosion directly to a new all-time high seems unlikely. An acquittal would definitely translate into strong gains and a new all-time high in the next bull market would be very likely. In 2023, however, this is unlikely.
Inverse Finance (INV), Liquity (LQTY), Polyswarm (NCT) and Propy (PRO) are launching on Coinbase Pro
Starting Today, Wednesday January 12, transfer INV, LQTY, NCT AND PRO into your Coinbase Pro account ahead of trading. Support for INV, LQTY, NCT AND PRO will generally be available in Coinbase’s supported jurisdictions with certain exceptions as indicated in each asset page here. Trading will begin on or after 9AM Pacific Time (PT), Thursday January 13, if liquidity conditions are met.
Once sufficient supply ofINV, LQTY, NCT AND PRO is established on the platform, trading on our INV-USD, INV-USDT, INV-EUR, LQTY-USD, LQTY-USDT, LQTY-EUR, NCT-USD, NCT-USDT, NCT-EUR, PRO-USD, PRO-USDT AND PRO-EUR order books will launch in phases, post-only or auction mode then limit-only or full trading mode. If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time or suspend trading as per our Trading Rules.
We will publish tweets from our Coinbase Exchange Twitter account as each order book moves through the phases.
Inverse Finance (INV) is an Ethereum token that powers Inverse Finance, a decentralized platform for lending, borrowing, and creating synthetic assets. INV is used to govern Inverse Finance products and can be used to vote for future upgrades.
Liquity (LQTY) is an Ethereum token that powers the Liquity protocol, a decentralized borrowing platform for 0% interest loans using ETH as collateral. Loans are paid out in a stablecoin called LUSD, and LQTY holders can stake their token to earn a portion of fees generated by opening and closing loans.
PolySwarm (NCT)is an Ethereum token that powers PolySwarm, a community and network for detecting malware. NCT rewards are distributed to users who provide relevant cybersecurity data while NCT is used to access insights provided by the network.
Propy (PRO)is an Ethereum token that powers Propy, a platform for international real estate transactions. The PRO token is used to pay for platform fees such as for modifying and creating title and deed contracts.
INV, LQTY, NCT AND PRO are not yet available on Coinbase.com or via our Consumer mobile apps. We will make a separate announcement if and when this support is added.
You can sign up for a Coinbase Pro account here to start trading. For more information on trading INV, LQTY, NCT AND PRO on Coinbase Pro, visit our support page.
### Please note: Coinbase Ventures may be an investor in the crypto projects mentioned here, and additionally, Coinbase may hold such tokens on its balance sheet for operational purposes. A list of Coinbase Ventures investments is available at https://ventures.coinbase.com/. Coinbase intends to maintain its investment in these entities for the foreseeable future and maintains internal policies that address the timing of permissible disposition of any related digital assets, if applicable. All assets, regardless of whether Coinbase Ventures holds an investor or Coinbase holds for operational purposes, are subject to the same strict review guidelines and review process. This website contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of Coinbase, Inc., and its affiliates (“Coinbase”), and Coinbase is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. Coinbase is not responsible for webcasting or any other form of transmission received from any Third-Party Site. Coinbase is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by Coinbase of the site or any association with its operators.
Crypto is a new type of asset. Besides potential day to day or hour to hour volatility, each crypto asset has unique features. Make sure you research and understand individual assets before you transact.
