Will ripple (XRP) Explode in 2024? The Most Interesting and Ugly XRP Price Predictions
TL;DR
- Despite the recent price drop, analysts are predicting a significant increase in the value of XRP, with some estimates reaching record highs.
- Indicators such as increasing XRP transactions and wallet numbers show that adoption is increasing.
- However, there is a bearish perspective, although a significant price drop is predicted due to regulatory challenges.
Ripple‘s XRP has struggled lately, despite posting impressive price gains in 2023 and giving investors new hopes for a major bull run. It is currently trading at around $0.59 (according to CoinGecko data), or a 5% decline on a monthly basis.
However, many analysts believe that the negative trend will not last long and predict significant increases in the coming months. X (Twitter) user EGRAG CRYPTO guess He said XRP could rise to its all-time high of $5 in the next 90 days, which “signals the first wave of a prolonged bull market that is likely to last several months.”
Analyst was put forward There was another prediction earlier this week that the coin’s value could jump to a ridiculous $220. It is worth noting that such a scenario is unlikely due to the trillions of market cap that XRP needs to reach. Recall that during the 2021 bull run, the market cap of the entire industry was “only” $3 trillion.
Dark Defender and JackTheRippler also predicted astronomical highs for XRP. Old requested He said that the capitalization of the cryptocurrency market could rise to over $23 trillion within a year and Ripple’s token could rise to $13.72. Latter guess Price is as high as $100.
Linda P Jones mentioned on Without making a definitive prediction on the subject. According to him, XRP will be positively impacted by a number of upcoming events this year, including a possible deal between Ripple and the United States Securities and Exchange Commission (SEC), the Bitcoin halving, a potential increase in institutional adoption, and more.
Observing On-chain Metrics
The increasing number of XRP transactions in the last few days coincides with bullish predictions. Since the beginning of the new year, the figure has reached well over 4 million.
XRP Transactions, Source: xrpscan
Also being has reached An important milestone as the number of XRP wallets exceeds 5 million. This development points to a growing user base and wider adoption; This could lead to greater investor confidence and price appreciation.
What do you say about the decline scenario?
TradingView analyst Bitgolder does not share the optimistic stance of the people mentioned above. Hey requested He said that the SEC will most likely win the case against Ripple, which will result in a significant drop in the price of XRP to $0.07:
SPECIAL OFFER (Sponsored)
Binance $100 Free (Exclusive): Use this link to sign up and get $100 free and 10% discounted fee on binance Futures for your first month (conditions).
#Ripple #XRP #Explode #Interesting #Ugly #XRP #Price #Predictions
