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Will the Big 2023 Rally Push Ripple's XRP Price to $1?

David - Cryptocurrency Enthusiast

Since the Securities and Exchange Commission (SEC) had an eye for Ripple’s legitimacy it’s been a roller-coaster since December 2020. The recent instability in the cryptocurrency market has increased the likelihood of XRP's success in 2023.

According to ripple price research, the bulls have been leading today, which suggests that the price is once more enclosing upward progress. The price increased sharply the day before, which was excellent for the bulls. The price has grown to $0.3523 as the trends have persisted.

In December 2022, crypto whales and sharks will be actively acquiring XRP tokens, according to information shared via a tweet by Santiment. It was acknowledged that the whale addresses with 1 million to 10 million XRP had hit a record level (ATH).

There were just 1440 such whale addresses as of November 1st, 2022, according to statistics. While there are now 1,617 addresses in total. It was discovered that these whales held 6.33% of the available XRP on the same day once more. Data, however, show that the percentage of supplies held has already reached 7.23%, a new record high. By 2023, will the price of XRP reach $1 as Ripple considers smart contracts?

Over the previous day, the cost of XRP jumped by 1.1%. This may be because smart contracts may soon be included into the XRP Ledger, as suggested by a former Ripple official.

Former Ripple director Matt Hamilton claims that smart contracts will soon be supported on the XRP Ledger. While smart contracts are still being developed, the blockchain now enables functions like escrow, decentralized exchanges, fungible and non fungible tokens, and smart contracts.

The blockchain of the XRP Ledger will directly compete with comparable systems like Ethereum, Cardano, and Solana because of its smart contracts. The value of XRP would greatly grow as a result of its massive transaction volume.

For those looking to buy XRP and participate in cryptocurrency trading, consider using a reputable cryptocurrency broker like BCBitcoin.

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