The cryptocurrency market has experienced a surge in bullish sentiment in 2024, with the total market capitalization recently surpassing $2.5 trillion. XRP has also seen positive developments, catching up with the broader market trend after a slow start to the year.
The digital asset has climbed over 20% over the past month, and as it continues its upward trajectory, financial experts have offered their insights on its potential price by the end of 2024.
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Predictions from Top Analysts
Finder Panel: A panel of industry specialists at Finder, while not providing a specific prediction for December 2024, has projected XRP to reach $1.73 by December 2025. Their previous forecasts for the end of 2023 suggest a price of around $1.24 for XRP by the end of 2024.
Dark Defender: Dark Defender (@DefendDark), a prominent crypto analyst on X, has predicted a price of $2 for XRP by the end of 2024. This prediction is based on the alignment of the Relative Strength Index (RSI) for the Bitcoin-XRP trading pair on the weekly chart with the levels observed before the 2017 and 2021 bull runs.
EGRAG CRYPTO: Another popular crypto analyst, EGRAG CRYPTO (@egragcrypto), has presented a more bullish outlook. His analysis suggests XRP could reach $2 in 2024. Following this, he set targets of $3.3, $4.7, $7.5, $11, $15, and $27, before potentially reaching $107.3. He believes a buying opportunity below $1 will soon become rare.
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Is XRP Going to Rise in 2024?
At the time of writing, XRP is trading at 0.6247, up 4.34% in the last 24 hours. The digital asset dropped recently, falling below $0.6 as Bitcoin retraced from its new all-time high. However, it has recovered and is on its way up.
While the predictions from these experts offer valuable insights, it is crucial to remember that the cryptocurrency market is prone to unforeseen changes. Several factors beyond these predictions could influence XRP’s price in the coming months.
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One major factor is the ongoing legal battle between Ripple and the United States Securities and Exchange Commission (SEC). A favorable outcome for Ripple in this lawsuit could bolster investor confidence and potentially lead to a price increase for XRP.
Market sentiment also plays a significant role, as broader market trends and the performance of other major cryptocurrencies like Bitcoin can significantly impact XRP’s price.
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