Ripple’s XRP is a highly controversial cryptocurrency, but also one that continues to attract the eyes of investors despite everything that happened to it in the past few years.
If you have been in the crypto industry for a few years now, and you have been paying attention — you likely noticed that there is a common way for people to treat XRP and its parent company. Every once in a while, a group of investors would accuse the coin of being a security, the company’s officials of being scammers, and Ripple would deflect the accusations with relative ease.
After a while, the whole thing would just start again, and despite the negative press, XRP kept its users, Ripple kept its partners, and indeed — it even got some major new ones, like MoneyGram. However, things changed very quickly when the same accusations that have been arriving for years started coming from the United States Securities and Exchange Commission (SEC), which also found XRP to be an unregistered security.
The lawsuit that the SEC filed against the company made huge waves, causing major partners like MoneyGram to immediately distance themselves from the project. Many have started selling their coins, and Ripple price — which just started growing as part of the Bitcoin bull run at the end of 2020 — suddenly crashed to earlier levels.
XRP lost its 3rd spot on the list of largest cryptos and was even forced to seek out new markets in Europe and Asia, where the regulators publicly declared that they do not consider it a security. Meanwhile, in the US, the legal battle with the SEC continued. Ripple would sometimes take a strong hit, while sometimes, it managed to land one of its own.
However, today, we are more interested in what happened to its price over the last 12 months, as well as where it could end up getting in the relatively near future.
Ripple price in the last year
Over the past 12 months, Ripple has been on a major rollercoaster. Back in the second half of 2020, the coin sat at an average price of $0.25. Somewhere in mid-November of 2020, that price started to grow as part of the Bitcoin bull run, as mentioned. At this point, Bitcoin was heading towards the stars, pulling Ripple and many other coins with it.
XRP managed to reach $0.69, battling the resistance at $0.70 when the SEC lawsuit hit, forcing it to crash back down towards $0.20. Over the next four months, the coin has been slowly battling to grow, and it did, for the most part. But, unlike BTC, ETH, and many other projects that skyrocketed, XRP did not manage to see such a surge until early April.
After managing to slowly get back to $0.60, it skyrocketed on April 3rd, going from $0.6 to $1.8. Of course, this was a massive achievement, although still only halfway towards its ATH of $3.84 which it saw in early 2018.
The coin soon saw a correction to $1, and then another surge which took it slightly above $1.6. After that, between May and mid-July, it kept going further and further down until it dropped to $0.60. But, over the last two months, it once again saw a considerable price increase, and it once again managed to go up to $1.4, reaching this level on September 6th.
That was about 10 days ago, and since then, XRP once again corrected to $1.12, which is where it sits at the time of writing, September 16th.
Can XRP go back to its ATH?
At this time, it seems highly unlikely that XRP can just skyrocket back beyond $3, and reach its old ATH. But, the dominant market volatility can push the price in any direction, so everything is possible.
Both Ripple and XRP felt some heavy hits over the last 12 months, and the coin still managed to remain in the top 10 list, it still managed to see considerable growth, and Ripple even seems to be winning against the SEC — or at least, that is what many believe to be happening.
According to CoinPrice Forecast, XRP likely won’t see any major movements for the rest of the year, as the forecast predicts that it will end in 2021 with a price of $1.15. The legal battle with the SEC could still strongly impact this. If Ripple manages to win, then the return to $3.38 would definitely be one of the potential options, as the coin walks away victorious. If, on the other hand, the SEC wins, then a massive sellout is likely going to cause a price crash unlike any that Ripple has seen before.
A lot of it depends on the resolution of this battle, and until that happens, all anyone can do is speculate. Investors who wish to learn more should read our Bitcoin vs Ripple comparison, or Investing in Ripple guide.