Despite XRP Coin’s significant market presence, investors remain unsatisfied due to its increasing circulating supply and protracted legal battle with the SEC. The conflict between Ripple and the SEC has been unexpectedly long and burdensome for both parties, contributing to the coin’s challenges.
With 54 billion of the 100 billion XRP coins already in circulation, investor discontent stems from the dilution of value. The market cap would need to hit an unlikely 300 billion dollars to reach a price of 3 dollars per XRP, considering the total crypto market’s current valuation struggles.
Even during favorable market conditions, such as the 2021 bull market, XRP’s price would only reach 1.27 dollars with the current circulating supply. The coin’s all-time high market value suggests a price cap just over 2.6 dollars, a figure that remains optimistic as the circulating supply continues to grow.
XRP’s Market Struggles
XRP faces four major problems, including a Bear Flag pattern indicating a potential drop to 0.24 dollars and increased selling by XRP whales. Additionally, a death cross on the chart signals further price declines, as seen in December 2021 when the coin’s value plummeted by 65 percent.
Investors are also coming to terms with the absence of a spot XRP ETF, dampening expectations for an investment vehicle that could have provided market support. These factors collectively underscore the persistent challenges and investor discontent surrounding XRP Coin.