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The XRP price enjoyed a significant rise following <\/span>Judge Analisa Torres\u2019s ruling<\/span><\/a> in favor of <\/span>Ripple<\/span><\/a> against the <\/span>US Securities and Exchange Commission<\/span><\/a> (SEC). However, a crypto analyst has explained why the token is unlikely to enjoy such a similar trajectory till the year runs out.<\/span><\/p>\n In a <\/span>tweet<\/span><\/a> shared on his X (formerly Twitter) platform, Jungle, a prominent figure in the XRP community, stated that he doesn\u2019t \u201cbelieve the end of 2023 will be great for XRP.\u201d However, it is not only XRP that he believes will end on a low as, according to him, \u201ccrypto in general\u201d will not enjoy so much success in the remaining months of this year.<\/span><\/p>\n Jungle\u2019s belief stems from the fact that many consumers are currently experiencing financial difficulty, so they might not be looking to invest in cryptocurrencies. He also mentioned the fact that the Federal Reserve keeps hiking interest rates in a bid to keep inflation down. This move ultimately curbs consumer spending, with many only focusing on what they consider necessary.<\/span><\/p>\n He projects that the financial market will take more hits before the year runs out and states that crypto \u201cwill not be immune from the pain.\u201d According to him, now doesn\u2019t feel like a \u201cgreat time for growth,\u201d further dampening the hopes of anyone who might have had a positive outlook for the crypto market for the remaining months of this year.<\/span><\/p>\n Jungle\u2019s comment comes at a time when the <\/span>crypto market is experiencing low trading volume <\/span><\/a>across the board, which suggests that traders aren\u2019t actively participating in the market. One reason could be that they have little or nothing to invest in the market, so they would rather stay out for now.\u00a0<\/span><\/p>\n<\/p>\n Jungle, however, mentioned that there are positives to look forward to for XRP and the crypto market in general. He noted that <\/span>Judge Torres\u2019 ruling<\/span><\/a>, alongside a stablecoin on <\/span>XRPL<\/span><\/a> and an <\/span>AMM capability<\/span><\/a>, will spark significant growth for the ripple ecosystem.\u00a0<\/span><\/p>\n He has also singled out certain factors and events that could drive up the crypto market\u2019s value in the coming year. One of these events is the SEC approving the <\/span>pending ETF applications<\/span><\/a> by certain traditional financial institutions. An approval from the SEC will see institutions like <\/span>BlackRock<\/span><\/a>, Fidelity, and <\/span>ARK Invest<\/span><\/a> onboard a new class of investors to the crypto industry.\u00a0<\/span><\/p>\n The Bitcoin Halving coming up in the first half of 2024 is another event that Jungle has predicted will help drive up the crypto market\u2019s value. Bitcoin and other cryptocurrencies\u2019 value is expected to rise significantly once the Halving occurs.<\/span><\/p>\nXRP Price To End 2023 On A Low<\/h2>\n
Token price returns to pre-judgment levels | Source: XRPUSD on Tradingview.com<\/a><\/pre>\n
Light At The End Of The Tunnel<\/h2>\n