As an investing research team we started focusing on crypto market analysis back in 2016. We were the first to post price forecasts of tokens like BTC, ETH, LTC, back in 2017. Consequently, we were also the first to publish an XRP forecast, right at a time when XRP was going up multi-fold. Equally important, we were the first to publish a premium investing research service dedicated to crypto investing. It is now secret that we have been XRP fans since day #1, based on both XRP fundamentals and chart patterns. That said, with XRP now officially not deemed a security, we are excited to share that our long-term XRP price forecast of 10 USD is confirmed. In fact, our XRP price forecast is even considered conservative based on the patterns we have observed and the statement we made earlier XRP The Most Beautiful Long Term Crypto Chart Of 2023.
In this blog post, we will explore the data points and factors that support our long-term XRP price forecast.
Our Old XRP Price Prediction Now Confirmed
Back in 2018, we made a price prediction for XRP to reach 20 USD, based on the long term XRP chart structure combined with fundamentals. We published a public post outlining our analysis, which can be found here:
Importantly, our analysis from 2018 remains unchanged, as the fundamentals of XRP have only grown stronger over time. Notably, the recent official determination that XRP is not deemed a security has further reinforced our case for XRP’s long-term potential.
XRP Is Not a Security Confirms Bullish XRP Forecast
Since the SEC initiated a lawsuit against Ripple officials, labeling XRP as a security, the price of XRP experienced significant volatility. Initially, it suffered a decline of 70%, only to rise tenfold during the 2021 rally. This demonstrates the resilience of XRP in the face of regulatory challenges and highlights the market’s bullish sentiment towards the cryptocurrency.
It goes without saying that this week’s news is the ultimate driver for our bullish XRP forecast, published many years ago, to be confirmed The Ripple Becomes A Wave: Why XRP’s Victory Lifts All Boats (Forbes):
Legal experts inked millions of words attempting to answer one of the thorniest questions in crypto: “Is Ripple’s XRP a security?” But Judge Analisa Torres needed only 25 to resolve the issue once and for all.
In a historic court decision for the industry, Torres wrote, “XRP, as a digital token, is not in and of itself a ‘contract, transaction or scheme’ that embodies the Howey requirements of an investment contract.”
In layman’s terms, XRP is not a security.
Reversal Turns Our XRP Forecast even More Bullish
One of the most critical points supporting our XRP price forecast is the extensive consolidation that XRP has undergone since the SEC case began. Throughout this consolidation period, XRP has respected key support levels, which aligns with the principle that “the longer the base, the higher in space.” This long-term chart setup is immensely bullish and suggests significant potential for XRP’s future growth. You can refer to the chart here:
XRP Long-Term Channel Confirms our 10 USD XRP Forecast
Our analysis of the long-term XRP channel indicates a price target of 10 USD. However, it is essential to note that this is the most conservative estimate, and the target could be reached sooner or later within the next three years. Patience will be handsomely rewarded as XRP continues to strengthen its position in the market. You can view the chart supporting this price target below:
Confirmation of Our Earlier XRP Price Prediction
The confirmation of our XRP price forecast of 10 USD is a significant development for XRP investors. Our earlier writings from 2018 and 2019 have now been confirmed, albeit with some delays caused by regulatory challenges. The journey has not been without hurdles, but XRP has weathered the storm and emerged stronger. This confirmation serves as a testament to the resilience and potential of XRP as a digital asset.
Stated differently, while XRP was on the path to hit 20 USD in 2020 or 2021, the SEC case simply delayed our price target. This is what we wrote many years ago:
As we conclude our analysis, it is evident that our XRP price forecast of 10 USD has now been confirmed. Arguably, as crypto revives and XRP outperforms in the next bull market top, we continue to expect 20 USD to be hit momentarily. The long-term chart patterns, along with the strengthening fundamentals and regulatory clarity, provide a solid foundation for XRP’s future growth. While delays may have occurred due to regulatory challenges, the patience of XRP investors will ultimately be rewarded. It is an exciting time for XRP, and we look forward to witnessing its continued progress in the crypto market.
Find the next tokens that are ready to take off in our detailed token chart analysis published on July 13th.