Ripple’s native token XRP is currently trading around the $0.47 mark on Monday, early July 2024. The leading altcoin has been on the back foot this year with little to no price spurts. Even when Bitcoin rallied on the heels of the halving event, Ripple’s native token moved at a snail’s pace in the charts.
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The development is testing the patience of investors as despite having a market cap of $27 billion, Ripple’s XRP is unable to scale up in price. Even unheard and obscure meme coins are outperforming the leading altcoin by a wide margin this year. This adds pressure on the cryptocurrency to perform and deliver gains that are making it jittery in the indices.
Now that Ripple’s native token XRP is on the back foot, can it shed its baggage in July 2024 and deliver returns? In this article, we will highlight how high or low Ripple’s native cryptocurrency will trade this month in July 2024.
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Ripple: July 2024 Price Prediction For XRP
Leading on-chain metrics and price prediction firm CoinCodex has painted a rosy picture for Ripple’s XRP in July 2024. The price forecast estimates that Ripple’s native token could surge by nearly 20% in the next five weeks. According to the price prediction, XRP could turn bullish and reach a high of $ 0.57 by the end of July 2024.
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Therefore, an investment of $1,000 could turn into $1,200 by the end of this month if the forecast turns accurate. That’s an uptick and return on investment (ROI) of approximately 20% from its current price of $0.47.
The cryptocurrency market is volatile and cuts both ways delivering massive losses to investors. It is advised to trade in XRP cautiously as there’s no guarantee that its price could spike 20% in July 2024. Trade at your own risk and do thorough research before taking an entry position into Ripple’s native cryptocurrency.
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