Ripple (XRP) Is Up 190% From Cycle Low, But Will It Ever Reach $3?

Best Owie

2 years ago

3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Ripple has remained a prominent name in the crypto market despite its woes in recent years. The digital asset was expected to crash as its case with the SEC raged on, but it has managed to maintain its hold on the market while building an effective community around itself. Nevertheless, the digital asset remains one of the few that didn’t hit its previous all-time high during the last bull run, sparking speculations of if it will ever return there.

FUD Derails Ripple’s Growth

During the 2017 bull run, Ripple (XRP) made a splash in the market by going on an incredible bull rally. The cryptocurrency was able to break above $3 and cement its position as one of the largest cryptocurrencies in the space. This saw more investors rally behind the token and pitch their tent there.

At the height of the rally, the cryptocurrency had touched as high as $3.30 in January 2018 before declining along with the rest of the market as the bear trend began. However, XRP’s decline would transcend just the bear market, given that the Securities and Exchange Commission (SEC) would take a keen interest in it. It led to the most prominent lawsuit in the crypto space, which is still ongoing at the time of this writing.

XRP trading at $0.33 | Source: XRPUSD on TradingView.com

The FUD that followed the lawsuit expressly delayed the growth of the digital asset since then. Even when cryptocurrencies were touching new all-time highs in the market, XRP was unable to do so, remaining firmly under its previous cycle peak.

Will XRP Retake $3?

With Ripple unable to reach its previous all-time high of $3.3 during the last bull market, it is unlikely that it will do so presently with the bear trend. However, it doesn’t completely eliminate the possibility of reaching this point once more.

A key component to look at is how cryptocurrencies tend to grow quickly in bull markets. At the current price, Ripple (XRP) will need to do a 10x to reclaim its previous high in 2018. An entirely possible scenario for a top 10 digital asset. But one thing is important in this quest to reach this point, and that is the fact that Ripple wins its case with the SEC.

CEO Brad Garlinghouse has actually expressed confidence that Ripple will be triumphant over the SEC. If this turns out to be the case, a massive rally is likely to break out off the news of the victory alone while propelling the digital asset’s price further since it is no longer being weighed down by the SEC’s probe.

Featured image from Investopedia, chart from TradingView.com

Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

Best Owie

Best Owie is a seasoned managing editor with a wealth of experience currently serving as the Managing Editor at NewsBTC. Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality.

Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best’s publications, which are always clear and concise, enabling easy reading and understanding for all.

Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best’s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community.

Best’s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information.

Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity.

When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world’s most quiet and well-behaved Husky. Best’s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well.

As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers.

Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best’s prolific career in the media industry is a testament of how hard work and dedication pays.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.