Cryptocurrency XRP is predicted to grow 8 times

According to CryptoNews analysts, the future of the XRP cryptocurrency remains optimistic despite negative forecasts for the value of other digital assets. At the time of writing, XRP is trading at $ 0.51, and experts believe that the token has a chance to rise to $ 4, which is almost 8 times its current value.

«The bear market won’t last forever, and XRP could make incredible gains if Ripple wins its lawsuit against the SEC. As both sides of the conflict have agreed to a summary judgment, the verdict of which should be announced in the coming months, XRP could „break out“ in 2023,» CryptoNews analysts emphasized.

Currently, XRP is growing successfully — in the last month alone, the token has increased by 57.7%. Members of the cryptocurrency community hope that Ripple representatives will be able to obtain a positive court decision. In any case, the outcome of the litigation between the blockchain and the US regulator will have significant consequences for the entire cryptocurrency industry.

As we reported earlier, the publication of the so-called Hinman documents will play an important role in the confrontation between Ripple and the SEC. William Hinman is a former director of the SEC’s Division of Corporation Finance, and the Hinman documents refer to one of his speeches during which the regulator stated that Ethereum is not a security. According to Ripple Labs, Hinman’s documents are an important argument in the court case — if ETH is not a security, then XPR cannot be considered one either. It was Hinman who was accused of bribery by the notorious blogger BitBoy Crypto.