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Finder's panel of fintech experts expects, on average, XRP will close 2023 at a price of 75 cents.
Looking further ahead, on average, our panel estimates XRP's value to hit $1.73 by the end of 2025 and $4.86 by 2030.
Let's take a closer look at the reasoning behind these predictions, as well as some of the opportunities and challenges ahead for XRP and Ripple.
XRP has been at the center of a closely watched legal battle between Ripple and the US Securities and Exchanges Commussion (SEC). Ripple is the creator of the XRP cryptocurrency and has been accused by the SEC of illegally selling XRP as an unregistered security.
The resulting effect on markets has been volatile, with the price of XRP shooting up by 73% in a single day in July 2023. XRP investors responded well to the news that Judge Analisa Torres, who is presiding over the case, deemed that XRP is not a security, in certain circumstances.
CEO of Unocoin Technologies Private Limited, Sathvik Vishwanath puts it simply, "If Brad Garlinghouse wins the case against the SEC then the price will shoot up. Major banks have also adopted the blockchain of Ripple."
Despite markets responding to a win for Ripple in July, the case is still ongoing, and XRP's future is still precarious.
John Iadeluca, CEO of Baz Capital says XRP "holds mainly speculative value" because it has "limited actual utility in the current Web3 and blockchain space."
Despite this, he understands the value of speculative hype and expects XRP to finish 2023 as high as $3.50, before eventually fading from relevancy by 2030 when he expects it to be worth 50 cents.
Similarly, Ruadhan O, founder of Seasonal Tokens, predicts that XRP will fall to 60 cents this year and notes that "Because it's not a smart-contract platform, Ripple can't easily integrate into the emerging global smart contract ecosystem."
So even if Ripple wins its case against the SEC, XRP may have a difficult path ahead as it diverges from the bulk of blockchain technology, which is smart contract-based.
Shubham Munde, senior research analyst at Market Research Future, predicts that XRP will finish the year around 55 cents before reaching $1.75 later in 2025 and $8.90 in 2030.
He says:
The prices of XRP would grow higher in the long term as Ripple's payment and exchange facilitating technology is supported by strong banks and financial institutions.
Is now the time to buy, sell, or hold XRP?
We polled our panel on 17 July when XRP was worth 74 cents, following the positive news from the SEC case which caused the coin to rally by 73% in a single day.
At these prices, 44% of our panel thinks now is the right time to sell XRP, with 39% thinking it is better to wait and hold. This may be related to the recent price surge which is often followed by a pullback. Only 17% think now is a good time to be buying XRP at these prices.
Are Ripple and XRP still significant in the crypto and remittance industries?
The price and success of XRP ultimately hinges on the success of Ripple. Ripple uses XRP as part of its remittance network which is designed to substantially reduce the costs of international payments, compared to legacy banking systems.
Ripple and XRP were both designed before the widespread adoption of stablecoins, which have found a home on several blockchain networks such as Ethereum as well as by banks and financial institutions.
We polled our panel on whether they thought Ripple and XRP still have any relevance in the cryptocurrency or remittance industries.
The results are nuanced.
27% of our panel outright said no, neither Ripple nor XRP has any relevance in either industry.
18% were unsure.
27% believe it's still relevant in both crypto and remittance industries, while 23% believe it's only relevant to the remittance industry.
Only 5% think it's relevant as a crypto only.
Ruadhan O provides a wonderfully detailed analysis of the opportunities and challenges that lie ahead for Ripple and XRP.
O acknowledges that Ripple is still relevant due to its regulation-friendly nature. However, this relevance may decline over time due to the increasing prevalence of tokenisation, Central Bank Digital Currencies and cross-chain token transfers:
"Within 5 years, it's very likely that Ripple will struggle to identify assets that can be more easily transferred from owner to owner using digital IOUs than using tokenised assets or cross-chain technology,"
"Because it's not a smart-contract platform, Ripple can't easily integrate into the emerging global smart contract ecosystem. XRP and the digital assets that Ripple can transfer are more likely to be tokenised and handled by smart contracts in the future than other digital assets are to be incorporated into Ripple. In the coming years, Ripple is likely to continue to be used by financial institutions, but as those institutions adopt smart contract technology, Ripple may need to innovate to avoid obsolescence."
Methodology
Finder surveyed 29 fintech specialists in July 2023. Panelists are able to answer as many or as few questions as they like, meaning the number of responses received varies by question. 14 panelists gave their price predictions for XRP by year-end 2023, and 14 panelists gave long-term predictions for 2025 and 13 for 2030. Panelists may own some cryptocurrencies, including XRP. All prices are listed in US$ per XRP.
Changes to methodology: In 2021, this research was conducted using the simple mean of all answers supplied to Finder. From 2022, we switched to using the truncated mean, with the top and bottom 10% of responses removed in order to attain a more consistent result. Any 2021 results quoted in this analysis have also been re-calculated using the truncated mean.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly
volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of
future performance. Consider your own circumstances, and obtain your own advice, before relying on this information.
You should also verify the nature of any product or service (including its legal status and relevant regulatory
requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.
Tim Falk is a freelance writer for Finder. Over the course of his 15-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors.
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