Will XRP Reach $1 in 2024?

Will XRP Reach $1 in 2023? It is possible for XRP to reach $1 in 2024?

XRP Performance so far

Last 7 Days-1.7%
Last 1 Month+5.0%
Last 12 Months+8.9%

Before we get into the Forecasts, here is the latest News Update

XRP Buy or Sell, Crowd Poll

Net Buy Rating = Buy% – Sell%

  • July 1st: 41.6%
  • July 13th – Ripple SEC Court Decision
  • Sep 1st: 51.0%
  • Nov 1st: +43.5%
  • Dec 8th: +52.0%
  • Dec 13th: +44.3%
  • Jan 1st: +36.0%
  • Jan 25th: +42.0%
  • Mar 14th: +42.9%
  • Mar 28th: +43.1%

Latest XRP News:

  • XRPLApex Summit announced in Amsterdam, June 11-13, bringing together XRPLedger community.
  • XRP won Best Cross-Border Payments Platform and Best DeFi Infrastructure Platform at FinTech Breakthrough Awards 2024.

XRP Prediction In Next Bull Run: In the last bull run, XRP maintained stability, mostly between $1 and $2, influenced by Ripple’s legal battle with the US SEC, resulting in delistings from major exchanges, like Coinbase. However, the upcoming bull run offers a new outlook for XRP. Ripple’s legal victories and relisting on major exchanges, including Coinbase, hint at a brighter future.

Will XRP Reach $1? The Calculations

XRP will need to rise by nearly 50% to reach $1 this year. At $1, the market cap will be 54.8 Billion. This is quite possible, here are the reasons why –

  • XRP is highly bullish now given the SEC judgement. The price of XRP has been significantly affected since December 2020, when the SEC accused Ripple of selling XRP as unregistered securities. This resulted in decreased investor interest and a dip in XRP’s price. However, with this ruling, XRP has the potential for a significant price surge, perhaps even doubling. XRP is already up 50% since the ruling.
  • US Inflation has hit 3% and with two more rate hikes likely, liquidity could start improving by the end of the year.
  • Ripple and XRP continue to innovate and expand partnerships building the ecosystem for further growth.

Will XRP Reach $1? About XRP

XRP is a cryptocurrency developed by Ripple Labs that is designed to facilitate fast and low-cost international payments.

The Ripple network uses XRP as a means of facilitating payments between different currencies and financial institutions. Instead of relying on traditional methods, such as correspondent banking, which can be slow and costly, the Ripple network enables near-instant settlement of transactions between different currencies and financial institutions.

Will XRP Reach $1? Utility of XRP:

The following are the major use cases of XRP:

  • XRP is primarily used to facilitate fast and low-cost cross-border payments between different currencies and financial institutions.
  • XRP can also be used as a means of sending remittances, which is the process of sending money to another country or region.
  • Some DeFi platforms use XRP as a means of facilitating transactions or providing liquidity.
  • XRP can be used for micropayments because of Ripple’s fast settlement times and low transaction fees
  • XRP can also be used as a means of hedging against market volatility, as its value can fluctuate independently of other cryptocurrencies and traditional assets.

Will XRP Reach $1? XRP vs SEC

  • In a landmark judgment, a US court ruled that Ripple’s cryptocurrency, XRP, is not a security per the Howey Test, creating a significant precedent for the crypto industry. However, the ruling distinguished between XRP as a digital asset and the sales of XRP directly from Ripple, which were deemed securities offerings amounting to about $728 million. This aspect of the judgment could result in Ripple facing fines, although an appeal is expected.
    • XRP is now trading live on multiple exchanges across the United States.

Also Read: XRP Price Prediction

EGRAG CRYPTO, a notable crypto influencer on X (formerly known as Twitter), predicts XRP could reach as high as $1.4 this year. On June 10th, EGRAG Crypto pinpointed a Mini Ascending Triangle (Mini AT) in XRP’s trajectory, which subsequently led to a significant Perfect Breakout. On Saturday, EGRAG CRYPTO identified a Mega Ascending Triangle (MEGA AT) formation, forecasting another considerable breakout. Their analysis suggests that XRP’s price might ascend to approximately $1.40, potentially oscillating between $1.3 and $1.5.

~Charu Taneja

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.