XRP Price Predictions: Where Will Ripple’s Carbon Bet Take the XRP Crypto?

  • XRP (XRP-USD) and its parent company, Ripple, have been embroiled in a legal battle with the U.S. Securities and Exchange Commission (SEC) for some time
  • Today, investor focus is shifting from the legal woes to a positive announcement
  • Ripple will invest $100 million in becoming more environmentally friendly
Concept coin for XRP (XRP).
Source: Shutterstock

XRP (XRP-USD) has spurred a lot of conversation in the crypto world this year. Lately, the leading enterprise blockchain solution for large-scale cross-border transactions has also seen its valuation fluctuate significantly. That has kept interest in XRP price predictions high.

One of the key reasons behind XRP’s volatility has been an ongoing lawsuit between Ripple and the SEC. Although the case may finally be resolved this year, headlines related to the lawsuit continue to drive XRP prices.

However, a recent announcement has turned heads today — and it doesn’t have to do with the lawsuit. Ripple is investing $100 million to “strengthen global carbon markets.” This move arrives as more blockchains aim to become more eco-friendly.

Carbon credits are one way of doing exactly that. Other blockchains have looked at planting trees, or investing in other positive, eco-friendly projects. Now, this investment is just another reason for investors to watch the XRP crypto.

XRP is up roughly 1% for the past 24 hours. Here’s where the experts see it headed next.

XRP Price Predictions

For context, XRP trades at about 42 cents per coin, at the time of writing.

On the date of publication, Chris MacDonald did not hold (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.

Chris MacDonald’s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.

Article printed from InvestorPlace Media, https://investorplace.com/2022/05/xrp-price-predictions-where-will-ripples-carbon-bet-take-the-xrp-crypto/.

©2022 InvestorPlace Media, LLC