Ripple’s XRP token has breached the $2 mark for the primary time since January 2018. The asset is presently one of many best-performing cryptocurrencies among the many high 100 tasks. XRP’s worth is up 29.4% within the every day charts, 76.9% within the weekly charts, 118.9% within the 14-day charts, and 375.2% over the earlier month. The asset has additionally rallied by 299.6% since December 2023.
Why Is XRP Rallying?
XRP started its ascent after Donald Trump received the US Presidential election. Market members are seemingly betting on Trump’s pro-crypto stance. Many anticipate lenient crypto laws beneath Trump’s management.
XRP’s worth additionally struggled over the previous few years because of the SEC vs. Ripple lawsuit. The fintech firm settled the case earlier this 12 months with a $125 million effective. The settlement might have boosted investor confidence as effectively.
Will The Crypto Reach $3 Next?
XRP has not traded on the $3 degree since January 2018. The asset has to rally by 22.4% to hit the $3 mark.
According to CoinCodex, Ripple’s XRP token will face a correction all through the following few weeks. The platform anticipates the asset to commerce at $1.54 on Dec. 31, 2024. Slipping to $1.54 from present worth ranges will entail a dip of about 37.14%.
(*7*) additionally paints a bearish image for XRP. The platform anticipates the asset to commerce at $1.17 on Dec. 30, 2024. Falling to $1.17 from present worth ranges will translate to a dip of about 52.24%.
There can be a chance that XRP will proceed its upward momentum and breach the $3 mark quickly. If Bitcoin (BTC) hits $100,000, there’s a excessive likelihood that we’ll witness a market-wide rally. In such a situation, XRP might hit a brand new all-time excessive.
