The former Ripple official has recently claimed that smart contracts will soon be added to XRP’s ledger. As a result of this claim, the price of XRP has risen a bit.
The price of cryptocurrency increased by 1.1% over the past 24 hours. Readers need to understand what smart contracts are.
Smart contracts are digital signatures stored in digital ledgers on various cryptocurrency exchanges powered by the blockchain.
Moreover, smart contracts do not require authenticity from a human.
Some of the world’s biggest cryptocurrency platforms, such as Ethereum (ETH), Solana (SOL), and Cardano (ADA), use smart contracts.
Experts said that this news would play a significant role in the price rise of XRP; it will also ease the selling pressure on XRP and create buying pressure on investors.
The Expected Price of XRP in 2023 is $1
Matt Hamilton, who has previously served as Ripple’s director, said that the smart contracts would soon be added to the XRP ledger.
Currently, Ripple supports features such as FTs, NFTs, escrow, and decentralized operations. But the smart contacts feature is still in the development phase. The process will be completed soon.
The addition of smart contracts in XRP’s ledger will position Ripple in direct competition with Ethereum, Solana, and Cardano.
That means the utility of XRP will also grow, and its trade will also grow. As cryptocurrency’s utility grows, the demand for cryptocurrency will also grow.
Experts believe that XRP will only fall behind Bitcoin and ETH in terms of price.
Moreover, by the end of 2022, the XRP price will be on the up, hinting at another price rally. Currently, the demand for XRP is increasing. This has helped the currency to also increase its value.
XRP to Show the Price Rally near The End of 2022
As the New Year is almost around the corner. XRP is on the verge of another strong rally. The demand for the currency has increased following the $0.35 gain in its price. The buying pressure on XRP has also increased.
Moreover, XRP’s MACD signal is also indicating a strong buying signal. Currently, the currency’s blue line is moving towards the green region. Once the currency’s MAC signal shows that XRP has entered the green area, the strong bullish run will begin.
Investors must seize this opportunity by investing in XRP before its bullish run begins.
Experts are very much convinced that the new bullish run of XRP can begin before 2023. The price of XRP can reach $1 during the upcoming bull run.
Those who want to earn big time should invest immediately. But those who follow the safe investment philosophy should wait for the currency to cross the first falling line.
Experts have predicted that the first resistance level for XRP is around $0.45, and during the current upward price trend, this resistance level will be easily achieved by XRP. Once this level is completed, the XRP price will easily hit the $1 mark.
XRP’s strong market indicators and the addition of smart contracts on the Ripple blockchain are the key factors that experts have tipped XRP as a future leader. This means XRP might become the third most valuable crypto token.
XRP Future Price Is Also Dependable on SEC Case
Even though on the technical side, the performance of XRP is immensely positive, Ripple is facing some legal hassles.
The outcome of the ongoing case between XRP and the U.S. SEC will play a massive role in deciding the price of XRP.
Both sides have submitted their final facts and figures reports and made their arguments. Now the final decision is pending.
If Ripple wins the case, it will positively impact the XRP prices, and another price boom is expected. But if SEC wins it, it will harm XRP’s price and Ripple’s future crypto expansion plan.