TL;DR
- XRP has been on a tear lately, with analysts predicting further growth.
- Optimistic projections hinge on favorable conditions like a pro-crypto SEC leadership shift and historical performance of the asset.
New Peak Before the End of 2024?
Ripple’s XRP is among the best-performing cryptocurrencies in the past month, with its price exploding by almost 200%. It currently trades at approximately $1.50, and many analysts believe the rally has just started.
X user CrediBULL Crypto claimed that XRP “looks fantastic” and its valuation could head north to $1.60 “as long as BTC doesn’t ruin the party.”
Crypto Assets Guy was even more optimistic, envisioning a pump to $2 by the end of November and a new all-time high of over $4 before Christmas. Moreover, they assumed XRP could skyrocket to $10 during the first quarter of next year.
Such a price explosion would require the asset’s market capitalization to exceed $500 billion. While the figure currently stands at around $85 billion, some important incoming factors may indeed trigger a massive resurgence.