In 2024, the cryptocurrency market has been feeling pretty optimistic, with the total value of all cryptocurrencies together passing $2.5 trillion. XRP, in particular, has been picking up speed after a bit of a slow start earlier in the year.
It’s gone up by more than 20% in the last month alone. Now, experts are sharing their thoughts on where they think XRP’s price might be by the end of 2024.
Expert Predictions for XRP Price in 2024
Finder Panel: A group of industry specialists at Finder hasn’t given a specific prediction for XRP’s price by December 2024. However, they’ve projected that XRP could reach $1.73 by December 2025. Their previous forecasts for the end of 2023 suggested a price of around $1.24 for XRP by the end of 2024.
Dark Defender: Dark Defender, a well-known crypto analyst, has forecasted a price of $2 for XRP by the end of 2024. This prediction is based on their analysis of the Relative Strength Index (RSI) for the Bitcoin-XRP trading pair on the weekly chart, aligning with levels observed before the 2017 and 2021 bull runs.
EGRAG CRYPTO: Another popular crypto analyst, EGRAG CRYPTO, offers a more bullish outlook. According to their analysis, XRP could hit $2 in 2024. They’ve set targets of $3.3, $4.7, $7.5, $11, $15, and $27 before potentially reaching $107.3. They believe that opportunities to buy XRP below $1 will soon become rare.
XRP Price Movement and Expert Insights
At the moment, XRP is trading at $0.6247, showing a 4.34% increase in the last 24 hours. Recently, the digital asset experienced a drop, slipping below $0.6 as Bitcoin pulled back from its new all-time high. However, XRP has since recovered and is trending upwards.
While the forecasts from experts provide valuable perspectives, it’s important to recognize that the cryptocurrency market is subject to unexpected shifts. Various factors beyond these predictions could influence XRP’s price in the upcoming months.
One significant factor is the ongoing legal dispute between Ripple and the United States Securities and Exchange Commission (SEC). A favorable resolution for Ripple in this lawsuit could boost investor confidence and potentially lead to a price surge for XRP.
Market sentiment also holds substantial sway, with broader market trends and the performance of major cryptocurrencies like Bitcoin exerting considerable influence on XRP’s price. Investors should remain vigilant of these external factors when evaluating XRP’s future trajectory.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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