A Ripple of uncertainty surrounds XRP, the cryptocurrency created by Ripple Labs. XRP was once successful, but its price has plummeted amid a protracted legal battle with the U.S. Securities and Exchange Commission (SEC). But even though dark clouds are looming, some analysts see a silver lining, predicting a future surge for the digital asset.
An SEC lawsuit filed in December 2020 alleges that altcoin is an unregistered security. If upheld, this classification could severely restrict XRP trading and reduce its value. The litigation has taken its toll, with the price falling 85% from its 2018 peak of $3.41. Recent months haven’t brought much respite, with XRP falling nearly 18% in the last month alone.
Technical analysis, a method used to predict price movements based on historical data, paints a troubling picture for XRP shortly. Analysts point to recent changes in price charts that indicate continued downward pressure. Despite the current headwinds, some analysts remain optimistic about the coin’s long-term prospects. Armando Pantoja, a respected crypto analyst, believes that XRP could reach between $8 and $20 by 2026. That would be a phenomenal growth of up to 3558% over its current price.
Small update
Through its RippleX development division, the company unveiled key updates to XRP Ledger (XRPL), the technology behind XRP. Notably, the XLS-68d specification allows platforms to cover user transaction fees without giving away free coins. This simplifies the signup process and may attract new users to the XRP ecosystem.
