XRP Will Touch $1, Is It That Simple?

<p>&nbsp;“XRP hitting $1 anytime soon? I guess when is that?"</p><p><br /></p><p>As the Ripple (XRP) cryptocurrency continues to show its resilience, its entire community is getting excited in anticipation of the digital asset's price hitting $1 in the near future.</p><p><br /></p><p>However, XRP has to rely on various sentiments if it wants to achieve its desired success, among the important issues is the legal battle between XRP and the Securities and Exchange Commission (SEC) of the United States (US).</p><p><br /></p><p>This is because XRP has the potential to rise high when the case is in favor of the digital asset but if the situation changes otherwise then the price will not only drop drastically but it will be difficult to reach $1.</p><p><br /></p><p>Even so, the decrease in available supply for certain cryptos shows the ability of XRP price to surge, where 247,016 XRP removed from circulation over the past 30 days has resulted in its daily average rate of around 8,233 tokens.</p><p><br /></p><p><br /></p><p>However, a senior XRP staff software engineer revealed that the reduction in the total supply of the digital asset was the main reason accounts on the XRP Ledger were deleted.</p><p><br /></p><p>As such, the burning of XRP tokens has sparked mixed opinions as some believe a significant reduction in supply could affect the value of XRP while others believe it will have a positive impact on the digital asset.</p><p><br /></p><p>It is well known that the activity of the XRP network has significantly decreased, where its transaction volume since last month has slipped by 15.86% and now the total transaction volume in its network is $632 million.</p><p><br /></p><p>While the XRP network also saw an 84.51% decrease in active addresses over the past seven days and now the number of active addresses is 24,363, therefore it should be known that network activity can play an important role in driving the price of XRP.</p><p><br /></p><p>Through observation, XRP is expected to surpass $0.58 on December 31, 2023 and now its price is still recording a 2.48% decrease at $0.47 in the last 24 hours with a market capitalization of $24 billion.</p>