Many analysts are still having trouble coming up with a ripple price prediction. Pressure is mounting on the price of Ripple with the dragging of the SEC lawsuit and the possibility of the monetary policy being tighter than usual in the coming days. The monetary policy will be made tighter than usual by the Federal Reserve.
Why Analysts Are Having A Tough Time Coming Up With A Ripple Price Prediction?
The price of XRP, as it is trading, stands currently at $0.7337. Since 24th May, this price appears to be the closest to the highest drop in price that we have seen. This year, the price of the coin is around sixty-two percent lower than the highest level. The market capitalization of the coin comes to over $33.7 bn. Due to this sort of uncertainty in the market, analysts are having trouble coming up with a ripple price prediction. The price of Ripple along with every other cryptocurrency is having a lot of obstacles in its way.
Last week, following the rise in the price of Bitcoin to $40,000, the cryptocurrency has managed to fall to the present price of $34,580. Other cryptocurrency coins like Dogecoin, Binance, and Ethereum have all fallen by over ten percent in the last seven days. A Ripple price prediction at this point seems very much unclear.
We are in this situation due to the anxiety and fears of investors in investing because of higher rates of interest. A Ripple price prediction is very much tougher than it seems. The investors also seem to be anxious about the tapering of quantitative easing by the Fed decision last week. With this decision, the QE and interest rates were left unchanged by the bank. This hints at a hike in rates that will take place in the future!
