Ripple's XRP is currently outperforming 10 top projects by market capitalization on the daily chart. This asset is also outperforming Bitcoin (BTC) and Dogecoin (DOGE) on the weekly chart. XRP's weekly performance is only surpassed by Cardano (ADA), which has risen over 20% in the past week.
The latest advancements of XRP
The price of XRP has increased by 5% on the daily chart, 12% on the weekly chart, 93.4% on the 14-day chart, and 197.3% compared to last month. The price of this asset has also increased by 155% since the end of November 2023. XRP surpassed the $1 mark earlier this month for the first time since November 2021.
Could this asset soon reach the $2 mark?
According to Changelly, Ripple's XRP token will face a correction next month. This platform predicts the asset will drop below the $1 mark by the end of December. Changelly analysts predict XRP will trade at $0.935 on December 28, 2024. A drop to $0.935 from the current price would result in a correction of about 40.06%.
CoinCodex also paints a similar picture for Ripple's XRP token. This platform predicts that the price of this asset will continue to decline throughout December. CoinCodex expects XRP to trade at $0.954 on December 25, 2024.
Ripple's XRP could accelerate if Bitcoin (BTC) begins to rise. There is a possibility that BTC will surpass the $100,000 mark before 2025. If BTC reaches $100,000, we could witness another price surge across the market. In such a scenario, XRP could skyrocket to the $2 mark. Reaching $2 from the current price would translate to a price increase of about 28.2%. Ripple has also settled its lawsuit with the SEC. This development could help XRP climb to new heights this year.