XRP price is swinging within a very narrow margin for quite a long time, yet a breakout is not seen any time in Q1 2022. The asset is expected to continue with the consolidation for some more time before slicing through the consolidation. Both the buyers and sellers are trying their level best to take control over the asset and hence compelling the price to possess low volatility.
The trading volume on the platform has dropped significantly, and the current volume is equally shared by both the buyers and sellers. And hence the price is swinging around $0.83 to $0.84 since 31st December 2021. However, the XRP price is expected to continue with the current consolidation for a pretty long time from now.
The XRP price since November 2021 is following a depleting trend and despite attempts to break the trend, it remained short-lived. Additionally, it declined back to its initial levels and accumulated heavily. However, with the other positive updates which are queued in 2022, XRP price may get a larger boost soon.
XRP is the very first crypto to not be compliant with ISO 20022 which is one standard method that integrates all the languages used by the financial institutions around the world, but also a member of ISO 20022. The other crypto to be a member of is Stellar Lumens(XLM). These standards are expected to be implemented in Q3 or Q4 of 2022 and completed by 2025.
The other factors include the growth with the ODL by nearly 25x despite the ongoing Ripple vs SEC case. Interestingly, the case may also foresee a closure very soon, and hence the XRP price may explode which was quite suppressed due to the case. Overall the year 2022 is pretty bullish with many advancements laid within the path of Ripple price towards its ATH.