Ripple’s XRP token has seen a significant rise in its price this year. Since January 2023, the asset has surged by over 80%. However, the popular cryptocurrency remains overshadowed by others, such as Solana (SOL), which grew by over 1000%, and Bitcoin (BTC), which rallied by nearly 160% in the same time frame.
Also Read: Ripple XRP Forecasted To Surpass its ATH of $3.40, Here is When
XRP saw a massive spike in its price, reaching $0.82 after a US district court ruled that Ripple selling the token to retail clients did not breach securities law. However, the US SEC (Securities and Exchange Commission) has taken the lawsuit to the high court. There is a possibility that the high court will rule similarly to the district court. However, XRP’s price has stagnated over its legal unclarity. The asset has yet to reclaim its July 2023 levels and is since down almost 24%.
Ripple XRP price prediction for New Year 2024
According to Changelly, Ripple’s XRP token could reach a price of $0.73 on Dec. 31, 2023, an increase of about 17.7% from current levels. However, the platform predicts the token’s price to drop to $0.72 on Jan. 1, 2024. Nonetheless, Changelly anticipates XRP to gain momentum in the first week of January, hitting $0.82 on Jan. 7, 2024, a price increase of about 32% from current levels.
Also Read: Ripple: Here is Why XRP Could Hit an All-Time High in 2024
CoinCodex also paints a bullish picture for XRP on New Year’s Eve. According to the platform, Ripple’s XRP token could hit $0.81 on Dec. 31, 2024, a price increase of about 30% from current levels. However, CoinCodex anticipates XRP’s price to drop in January 2024. The platform predicts the token will fall below $0.70 by the end of January next year.
Credit: Source link