Ripple (CCC:XRP-USD) is on the move today as it continues to overcome its legal controversies. As the blockchain ledger’s SEC lawsuit continuously winds down, big business updates are at the front of its priorities. Today, two new moves are bolstering the stock’s value and exciting buyers who want to move past the courtroom. What does this all mean for Ripple (XRP) price predictions?
BankDhofar, a prominent bank in Oman, is partnering up with Ripple. The blockchain tech, which offers faster and cheaper international wire transfers than a typical bank, will be providing transfers between Oman and India. The partnership is just the newest in a string of collaborations with major global banks. In May, Ripple partnered up with the National Bank of Egypt to enable wire transfers to Egyptians working in the UAE.
Furthermore, the company is jumping into the NFT game. The trading and minting of non-fungible tokens can now occur on the XRP ledger. The move comes as a way to combat the high gas fees of using other blockchain ledgers.
Ripple (XRP) Price Predictions Heat Up From Big News
XRP is up 7% on the day in the wake of the pair of announcements. Coins are trading hands at $1, striving to break out toward their all-time high of $3.84. Trading volume, however, is down over 30%.
Ripple has been dealt some unsavory cards in the last six months thanks to the lawsuit. But with the legal battle looking to a favorable ending, and partnerships and new offerings piling up, XRP is primed to break out. Let’s see what analysts are saying about Ripple (XRP) price predictions:
- It seems as though outlets are a little hesitant to say Ripple is ready for a bullish run. Many point to small gains over long periods as the primary method of growth. WalletInvestor is giving XRP a $1.10 valuation for May 2022.
- The Economy Forecast Agency is looking at $1.46 highs for XRP this year, before closing out December at $1.32.
- DigitalCoinPrice sees a $1.52 valuation for Ripple as it finishes 2021.
- Gov Capital sees the gains as a flash in the pan, with XRP evening out and only rising to a slightly higher $1.28 in a year’s time.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.