- Analysts predict Ripple’s XRP price may reach $5 by 2024.
- XRP expected to maintain position in accumulation zone until Q1 2024.
- XRP’s value declines, weekly performance sinks to -8.07%.
Many crypto traders and analysts have recently been voicing their predictions that Ripple’s (XRP) price may soar to $5 by 2024. One astute crypto analyst even took to Twitter to caution against underestimating the prowess of the sole cryptocurrency that has managed to surpass Ethereum (ETH) in market capitalization.
In light of the tweet above, a fellow analyst expressed that while XRP may not soar to $100 or $50 following its legal battle with the SEC, there remains a steadfast belief that this remittance token will achieve a commendable milestone of $5. Additionally, EGRAG CRYPTO, an esteemed analyst, recently shared his prognostications regarding XRP’s price in a tweet earlier this month.
Based on the analyst’s assessment, XRP is expected to maintain its position within the accumulation zone until it surpasses the lower yellow region. The analyst further emphasized that a strong conviction is required for XRP to venture into the white area. Until such a breakthrough occurs, there is a possibility of encountering some resistance until the first quarter of 2024.
Despite the prevailing doubts, EGRAG CRYPTO maintained their belief that XRP harbored untapped potential for a remarkable upswing. Speculatively, XRP could ascend to the impressive heights of $2.8 to $4.6.
This specific movement marks the inception of a grander wave, with a possibility of a downward correction to $1 before embarking on an audacious and arduous journey to kickstart the third wave. As per the analyst’s projections, this third wave has the potential to propel the XRP price to an impressive $50.
According to the latest update from CoinMarketCap, XRP is currently being exchanged at $0.4686, reflecting a slight decline of 1.59% within the last 24 hours. Consequently, the remittance token is now positioned marginally closer to its peak value of $0.4775 for the day rather than its lowest point of $0.4565.
XRP’s value took a downward turn over the past day, causing its weekly performance to sink even deeper into negative territory at -8.07%. Despite its market cap of $24,486,695,231, XRP currently holds 6th among the largest cryptocurrencies. It closely trails behind USD Coin (USDC), which sits comfortably in the 5th position.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
