TL;DR

• Despite a recent price drop, analysts predict a significant rise in XRP’s value, with some forecasting record highs.
• Indicators like increased XRP transactions and wallet numbers suggest growing adoption.
• However, a bearish perspective exists, with predictions of a substantial price fall due to regulatory challenges.

Will the XRP Army Cheer This Year?

Despite recording impressive price spikes in 2023 and giving investors fresh hopes for a massive bull run, Ripple’s XRP has recently struggled. Currently, it trades at around $0.59 (per CoinGecko’s data), or a 5% decrease on a monthly basis.

Still, numerous analysts believe the negative trend would not last long, envisioning substantial gains within the following months. The X (Twitter) user EGRAG CRYPTO predicted that XRP could rise to an all-time high of $5 in the next 90 days, “marking the initial wave of a prolonged bull market, one that’s likely to span several months.”

The analyst laid out another forecast earlier this week, according to which the coin’s value might jump to the ridiculous $220. It is worth mentioning that such a scenario is improbable due to the multi-trillion market capitalization that XRP needs to reach. Recall that the market cap of the entire industry stood at “just” $3 trillion during the bull run in 2021.

Dark Defender and JackTheRippler also predicted astronomical peaks for XRP. The former claimed that the cryptocurrency mark