Why Ripple (XRP) Will Likely Hit An All-Time High In 2023 And Explode Beyond $2

Despite short-term volatility, surging institutional interest will provide tailwinds for Ripple

Last Updated December 20th 2022
5 Min Read

With high institutional interest and developments in place, Ripple XRP has shown a significant surge in its price over the past year. Ripple returned more than 250% in just 2021, which is remarkable. 

Crypto enthusiasts predict that Ripple will most probably explode beyond $2 by the end of 2023. There are several reasons why Ripple will likely hit an all-time high in 2023 and explode its value. Here are a few among them.

Ripple Price To Explode Beyond $2

The Ripple Network has always been working to create a payment system that will help traditional financial institutions facilitate both global and domestic fund transfers. With its tremendous rally in 2017 and the beginning of 2018, Ripple broke barriers to hitting an all-time high of $3.84 on January 4, 2018. 

Ripple (XRP) is expected to soar higher, exploding beyond $2 by the end of 2023 as per predictions. 

Why Will Ripple Explode Beyond $2 This Year?

Here are two significant factors that might drive Ripple's value to explode beyond $2 by the end of 2023. 

XRP's Favorable Win In The SEC Lawsuit

The prominent reason for Ripple's downfall and loss of its partnership with MoneyGram was the allegation filed by the SEC in December 2020. But with its dedicated development team and continuous effort, Ripple XRP had a promising win over the lawsuit in 2021. Ironically it has become one of the significant factors that drove Ripple to hit an all-time high this year. 

Ripple's rally also received a boost from New York Judge Sarah Netburn's favourable decision in the case. The Judge granted Ripple access to the US SEC's internal communications. This way, Ripple Labs can check the financial watchdog's criteria for a "security" and determine if XRP actually fulfils those parameters or not. 

After Ripple's likely win over the SEC lawsuit, the price of the coin immediately pumped to $1. However, followers of Ripple still regard it both as a platform and a token, assuring that it will reach $2 by the end of 2023. 

The Veteran analyst Peter Brandt states that XRP has just started the rally, and Ripple could likely hit an all-time high in the coming months. He even took his opinion about Ripple's rally to his Twitter handle. 

Ripple's Plan For Coin Burn

An all-time high in 2023 seems inevitable for XRP. The Ripple management has recently announced a plan to process a token burn. It aims to remove a certain quantity of the token from the total circulation supply, resulting in reducing the token supply and increasing demand. This will result in a subsequent rise in XRP's price and value in the market. 

In an interview, The Ripple CEO Brad Garlinghouse talked about the upcoming plan in the Ripple Network. He said that he is open to new ideas if they can boost Ripple's ecosystem. 

Check Out: Should You Buy Ripple?

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Why Ripple Will Likely Hit An All-Time High In 2023?

Despite the ongoing lawsuit, Ripple XRP has seen a tremendous surge in its price over a few months. The highest value Ripple had in 2021 is in April, which was around $1.83. Achieving a value of $2 is not so far, as several high-net-worth investors are entrusting their funds in XRP, hoping for future growth. 

CoinShared, in their new Digital Assets Fund Flows Report, says that XRP is now the top-rising altcoin among its institutional investors. Meanwhile, ardent Ripple investors believe that Ripple will gradually completely replace SWIFT, and more financial institutions will utilize the network once the legal battle is over. 

Eventually, it will add to the long-term investment thesis of Ripple XRP in the coming future, assuring investors that their capital is positioned in an asset that has high future potential and has prominent support. 

This increasing demand and its new development plans are a few reasons why Ripple (XRP) will likely hit an all-time high in 2023.

Read Also: Is XRP a Good Buy?

Ripple's Increasing Institutional Interest 

Ripple has garnered the support and partnership of some of the biggest names in the investment sector. Along with its long-term healthy partnerships with financial institutions such as JP Morgan (JPM), Banco Santander (SAN), Bank Of America, SBI Holdings, etc., Ripple also joined hands with several other big guns in the market in 2021.

The Tranglo-Ripple partnership is at the top of the list. Ripple has recently joined hands with Asia's leading cross-border payments specialist Tranglo. This has helped Ripple expand its network across regions, especially its On-Demand Liquidity (ODL) service. By deploying ODL Tranglo can seamlessly send money instantly, making cross-border transactions cheaper, faster, and secure. 

Ripple also announced its partnership with Zurich Instituto Tecnologico Autonomo de Mexico (IATM) and Ryerson University. The partnership aims to create the world's first interdisciplinary research center in the DeFi ecosystem. Ripple and Zurich aim to bring forth a revolutionary project, which will boost Ripple's value by the end of this year.

Don't Miss: Ripple Price Predictions

The Bottom Line

Ripple (XRP) is backed up by a strong development team, big-budget institutions, and several other investors who are working hard to enhance the Ripple ecosystem. Therefore, Ripple is indeed a cryptocurrency that has a high potential to disrupt many financial industries for good. 

With all this in place, crypto enthusiasts predict that Ripple XRP will hit an all-time high in 2023, positioning itself as a valuable cryptocurrency that will cross the $2 value mark in the coming years.

If you’re an investor with ample time in your hand, you might consider investing in Ripple with the clear understanding that it is a speculative investment. Price could “go to the moon” or might simply tank, too.

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