The XRP price enjoyed a significant rise following Judge Analisa Torres’s ruling in favor of Ripple against the US Securities and Exchange Commission (SEC). However, a crypto analyst has explained why the token is unlikely to enjoy such a similar trajectory till the year runs out.
XRP Price To End 2023 On A Low
In a tweet shared on his X (formerly Twitter) platform, Jungle, a prominent figure in the XRP community, stated that he doesn’t “believe the end of 2023 will be great for XRP.” However, it is not only XRP that he believes will end on a low as, according to him, “crypto in general” will not enjoy so much success in the remaining months of this year.
Jungle’s 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
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