Analysis: $1,000 in XRP Now Could Change 2024 Games


XRP has down 3% in 24 hours to $0.5344 as the crypto market falls 3.5% today.

The cryptocurrency is down 5% in a week and 11% in a fortnight, although it gained 4% in a month and 6.5% last year.

Such percentages aren't outstanding compared to other prominent coins, but they imply that the market continues to undervalue XRP, which might lead to huge profits in the medium- and long-term.

If an investor invests $1,000 in the alt today, its rise from $0.5344 to $1 in the New Year might yield $1,870.

Analysis: $1,000 in XRP Now Could Change 2024 Games
XRP's indicators are poor like other currencies.

Today, its purple RSI sank to 30, a deeply oversold condition that usually signals a comeback.

XRP's price is also below its 200- and 30-period moving averages, indicating severe overselling.


XRP and the market are struggling with low demand.

Data from the biggest Bitcoin ETFs shows $211 million in net outflows yesterday and $287 million on Wednesday.


Over the last several weeks, XRP (and other alts) have seen prices steadily decrease as new purchasers fail to replace sellers. This indicates a demand and interest exodus from the cryptocurrency market.

While we may see some short-term suffering, XRP has solid fundamentals that should enable it rise in the next months and years.

Ripple resolved its long-running SEC complaint in early August for a far lower penalty than the commission desired.

In recent weeks, it has partnered with SBI Holdings and launched its own stablecoin to extend its activities.

Thus, the XRP price may rise significantly in the coming months, making $1,000 spent today potentially profitable.

As indicated above, XRP reaching $1 would be worth $1,870, while a return to its ATH of $3.40 would make it worth little over $6,300.

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