The cryptocurrency market seems to be recovering from the selloff in late January. Bitcoin (BTC) has reclaimed the $46k level, with other projects following its trajectory. Ripple’s XRP token is also witnessing a rally, albeit less than other tokens. XRP is up 0.8% in the 24-hour charts and 2.5% in the weekly charts. However, the asset is down 8.3% over the previous month.
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The slow recovery around XRP could be due to the SEC (Securities and Exchange Commission) receiving the court’s permission to access Ripple’s financial documents in its legal suit against the fintech company. Investors may have taken the news as a bearish development.
However, there is a chance that XRP will enter a massive bull run soon.
Ripple’s XRP could rally over 3400%: Predicts analyst
According to crypto analyst Dark Defender, Ripple’s XRP token is on the verge of a breakout, which could send it beyond its all-time high of $3.40, which it attained in January 2018, over six years ago. According to the analyst, XRP could see tops at $1.88 and $5.85 before hitting a high of $18.22. Reaching $18.22 from current levels would translate to a growth of over 3470%.
Also Read: Ripple XRP: You Could Have Made $5 Million With $100 Investments.
However, not everyone agrees with Dark Defender’s prediction. According to Changelly, Ripple’s XRP won’t breach the $18 level till at least 2033, about nine years from now. Moreover, the platform anticipates XRP to reclaim its all-time high of $3.40 by 2028, four years from now.
Telegaon paints an even more bearish picture for XRP. The platform predicts XRP to hit $18 sometime in 2040, about 16 years from now. However, the platform predicts XRP to reclaim its all-time high in 2025.
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