Ripple News: XRP Price Prediction For Q3-2023, Here's What Traders Can Expect

Ripple News: XRP Price Prediction For Q3-2023, Here’s What Traders Can Expect

7 July 2023

in XRP

Reading Time: 1 mins read

The XRP market is undeniably in the last calm days before a storm in the macro outlook. Having consolidated between 30 and 56 cents since May last year, the XRP positive fundamentals have undoubtedly accumulated over the years for an imminent breakout.

Moreover, the digital asset has significantly been adopted by institutional investors seeking to eliminate siloed cross-border payments solutions, like Swift which is both expensive and slow.

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XRP Price Analysis For Q3-2023

According to a popular crypto analyst, EGRAG Crypto, the XRP market is in the 100 final days before a breakout between September and October. Meanwhile, the analyst expects volatility on either side fueled by high emotions as the legal proceedings approach the end.

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During the third quarter, EGRAG Crypto expects XRP price to find crucial support around $0.4570, $0.4250, and $0.42. If the bears rock the crypto market, the analyst expects the XRP support level around $0.3850 to hold.

On the other hand, the analyst expects XRP bulls to expedite notable resistance around $0.48, and $0.50, and major headwinds at 54 and 58 cents.

Although XRP is globally traded as a digital asset like Bitcoin which is considered a commodity, EGRAG Crypto cautioned traders to keep notice of the legal proceedings.

“Judge Torres’s decision could have significant implications for XRP’s price. The outcome of the case might sling-shot the price in either direction, depending on the verdict and subsequent actions,” the analyst noted.

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