XRP, the cryptocurrency associated with Ripple, has been locked in a lengthy period of consolidation, trading between $0.300 and $0.600 for the past seven years.
Despite a brief surge during the 2021 bull run that saw XRP reach a three-year high of $1.9 in April, the token has since returned to its range, lacking the bullish momentum to overcome upper resistance levels.
However, some crypto analysts are now predicting a major uptrend for XRP in the coming months, potentially propelling it to new heights.
Analysts Anticipate XRP Breakout
A technical analyst using the pseudonym “U-COPY” on the social media site X (formerly Twitter) suggests that XRP could experience significant movement between May 15 and August.
U-COPY points out that XRP has been slowly moving up from its previous low at $0.46 and is nearing the end of a long triangle formation, which has been in accumulation since 2018.
The analyst believes that XRP’s real potential will be revealed in the fully formed bull cycle, with the token possibly experiencing substantial growth by the end of the year.
Supporting this bullish outlook, another analyst, Armando Pantoja, proposes that the crypto bull run could begin in September or October 2025, with XRP potentially reaching a price of $0.75.
Pantoja further suggests that if former US President Trump wins the election and the Securities and Exchange Commission (SEC) eases its stance on cryptocurrencies, XRP could be propelled to higher levels.
This change in regulatory dynamics, combined with the ongoing legal battle between Ripple and the SEC, may increase the likelihood of XRP gaining approval for an exchange-traded fund (ETF) similar to Bitcoin.
Pantoja outlines a price range of $1-2 for an XRP ETF announcement in early 2025. If interest rates are cut multiple times during the same period, XRP could potentially reach $5-10. Ultimately, Pantoja predicts the possibility of XRP hitting $10-$20 by the fourth quarter of 2025 or the first quarter of 2026.
‘Buy the Dip’ Opportunity?
According to market intelligence platform Santiment, The XRP Ledger (XRPL) has recently witnessed a notable increase in the movement of dormant tokens, signaling a potential shift in market dynamics for the token.
Coinciding with the opening of May, the company’s Token Age Consumed metric reveals a spike in the transfer of old coins, reminiscent of a similar occurrence in April, just before a significant downturn in the market. During that period, XRP experienced a sharp decline in value, dropping by 16%.
However, in contrast to the previous event, Santiment suggests that there is a “compelling argument” that this current surge in old coin movement might be attributed to the interest of key stakeholders looking to “buy the dip.”
Furthermore, it is worth noting the growing open interest in exchanges, which has recently reached a three-week high. This uptick in open interest indicates increased active positions in XRP, potentially reflecting growing market participation and heightened trading activity.
Considering these factors together—the surge in dormant token activity, the potential buy-the-dip interest from key stakeholders, and the rising open interest on exchanges—there appears to be a shift in sentiment surrounding XRP.
At press time, the seventh-largest cryptocurrency trades at $0.5020, down over 7% in the past week alone and 1% in the past 24 hours.
Featured image from Shutterstock, chart from TradingView.com
Disclaimer: For information purposes only. Past performance is not indicative of future results.
FAQs
Pantoja outlines a price range of $1-2 for an XRP ETF announcement in early 2025. If interest rates are cut multiple times during the same period, XRP could potentially reach $5-10. Ultimately, Pantoja predicts the possibility of XRP hitting $10-$20 by the fourth quarter of 2025 or the first quarter of 2026.
What is the price prediction for the XRP lawsuit? ›
Although Levi recommends setting an initial target of $1 per XRP coin, the long-term projection of a 50-fold increase from the current price levels is considered achievable. This optimistic outlook stems from the inefficiencies plaguing traditional financial systems and the advantages that XRP offers as a solution.
What is the realistic XRP price prediction? ›
Having analyzed XRP prices, cryptocurrency experts expect that the XRP rate might reach a maximum of $0.640 in December 2024. It might, however, drop to $0.566. For December 2024, the forecasted average of XRP is nearly $0.603.
What is a realistic price for XRP in 2030? ›
Trading Education, which is bullish on XRP's long-term future growth, likens the platform to a Visa competitor by the end of the decade. The site predicts that XRP could reach a high of $31.81 by the end of 2030.
How high will XRP go in 2024? ›
Throughout 2024, XRP is expected to move between $0.26 and $0.62 with an average forecasted price of $0.41. The forecaster at InvestingHaven predicts XRP to move in a range between $0.40 and $0.88 throughout 2024 but dramatically increases upside targets for 2025 and 2026 to $3 and ultimately $9 to $10.
Is XRP going to explode? ›
XRP's gains should come, but maybe not right away
I'm not saying that Ripple is poised to pop in January, or that the token most certainly will rise later in 2024. However, it does seem poised for long-term success.
Will XRP skyrocket? ›
If the dispute with the SEC reaches a favourable final conclusion, it's reasonable to anticipate that investor interest in XRP could spike. This would likely fuel new growth and potentially lead to an uptick in its price.
Will Ripple XRP reach $50? ›
Interestingly, the crypto went on a consolidation for 12 months after the formation of three bullish candles before going on an 8000% to $0.40562. If this repeats itself, we could see XRP go through a similar consolidation period before skyrocketing to $50 starting on November 1st, 2024.
Is XRP worth buying? ›
Key Points. Ripple's native token, XRP, is trying to disrupt how money moves across borders. Investors can't ignore Ripple's ongoing regulatory troubles. There is a ton of risk with owning XRP, so investors should probably avoid it.
Will XRP reach $20? ›
He believes Ripple has high growth potential and could rally between $10 and $20 in the current cycle. Pantoja believes that XRP will rally to a minimum value of $10 in the post-halving period. However, XRP must surge at least 3,300% from its current valuation of $0.6 to reach the projected price.
XRP could reach $14.21 by 2040 and $106.14 by 2050 if it follows Bitcoin's growth trajectory over the past 5 years. The accuracy of long-term XRP price predictions hinges on the future growth of Ripple protocol users, the resolution of the SEC lawsuit, and Ripple's partnerships in the payments space.
What crypto will explode in 2024? ›
Based on our research, ButtChain, Bonk, Sealana, Bitcoin, Celestia, and Solana stand out as the best cryptos in 2024. ButtChain, in particular, is catching attention with its playful branding, innovative features, and ingenious tokenomics.
What is the future price of XRP in 2026? ›
XRP (XRP) Price Prediction 2030
| Year | Price |
|---|
| 2024 | $ 0.519105 |
| 2025 | $ 0.54506 |
| 2026 | $ 0.572313 |
| 2027 | $ 0.600929 |
1 more rowCurrently, XRP price looks set to reach the $1 territory in 2024. The spikes in XRP funding rates is a strong indication that the bullish traders are willing to pay top dollar to keep their LONG positions, with growing confidence that XRP price will remain in an uptrend.
Is XRP the next Bitcoin? ›
In addition to the very optimistic predictions about XRP's future, the number of transactions on the XRP Ledger more than doubled in the first quarter of 2024.
Is XRP undervalued? ›
Currently trading at a super-low price of just $0.65, crypto token XRP (XRP 1.42%) might appear to be wildly undervalued. After all, XRP boasts a cross-border payment network known as Ripple, as well as partnerships with some of the biggest names in the financial services industry.
How high can XRP go? ›
With most XRP future Ripple price predictions however, It's generally expected that Ripple should be worth more in 2024 than it is now, with some pundits suggesting that it could be worth as high as a maximum price of $4.
What is the prediction for XRP 2025? ›
XRP price prediction 2025
The XRP price prediction for 2025 is currently between $ 0.325737 on the lower end and $ 1.606193 on the high end. Compared to today's price, XRP could gain 210.11% by 2025 if XRP reaches the upper price target.
What is the current XRP lawsuit? ›
The legal spat between the entities started in December 2020 when the SEC accused Ripple of illegally raising more than $1.3 billion in an unregistered securities offering by selling XRP. The battle passed through numerous developments in the following years, reaching its trial phase in April 2024.
What is the ADA price prediction? ›
Our real-time ADA to USD price update shows the current Cardano price as $0.451561 USD. According to our Cardano price prediction, ADA price is expected to have a -2.73% decrease and drop as low as by June 02, 2024.
