XRP is the native token of the Californian crypto project Ripple, whose team has been fighting the US Securities and Exchange Commission (SEC) since December 2020. Recall that the regulator accused the company of illegal issuance of securities in the form of XRP cryptocurrency. Against the background of assumptions about the imminent victory of Ripple in court, which do not exclude the completion of proceedings in June, the token showed growth. The editors of BeInCrypto decided to find out if the cryptocurrency can continue its positive dynamics in the first month of summer. We tell you what XRP forecast for June was given by experts
XRP Forecast for June 2023
Experts interviewed by the editors of BeInCrypto believe that the resolution of the company’s conflict with the SEC can have the greatest impact on the Ripple cryptocurrency in the first month of summer. At the same time, our interlocutors ask us not to forget that the coin, like other altcoins, depends on the “health” of bitcoin. We tell you which XRP exchange rate forecast for June seems to be the most probable for experts.
Hope for Growth
StormGain crypto exchange expert Dmitry Noskov believes that the possibility of Ripple cryptocurrency movement in the first month of summer will largely depend on the course of proceedings between the project team and the SEC. His XRP forecast for June does not rule out a rise to $0.8-1.2 in the event of any positive news in the case of the company’s fight with the Commission. If market participants do not see the development of the conflict, the cryptocurrency, in his opinion, can spend the first month of summer in the range of $0.4-0.5.
A similar XRP forecast for June 2023 was given by Svetlan Mkrtchyan, Head of Sales at Turov Invest. It does not exclude the movement of the Ripple cryptocurrency to the levels of $0.96-$1.002.
“Provocations” are not excluded
Maxim Poptsov, co-founder of the CONNECT INVEST investment fund, drew attention to Ripple’s dependence on the movements of the market’s flagship, bitcoin. The latter, according to our interlocutor, has exhausted its medium-term propensity for growth. At the same time, Maxim Poptsov does not see the prerequisites for a significant decrease in BTC in the near future.
“Given this market situation, in June I expect to see the last, within the medium-term trend, upward momentum in XRP to “provocation” retail traders to buy assets, where the price will take its short levels of $0.55-0.585. As part of the “provocation”, it would be appropriate to break the price above the levels, but not to fix it. Subsequently, I expect a smooth return to the support levels at $0.42 and $0.38, their penetration and consolidation below, after which XRP will be ready to start storming the strong support zone at $0.29-0.34,” Maxim Poptsov gave such an XRP forecast for June 2023.
An additional factor for XRP speculation, according to our interlocutor, will be the news background related to the fight between Ripple and the SEC. Good news will be an excellent foundation for carrying out the “provocation” indicated above on the chart and liquidating the positions of retail traders.
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2023-06-02 09:50:00
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