Ripple’s XRP is now outperforming the top 10 projects by market capitalization. The asset had an incredible year in 2024, surpassing the $2 mark for the first time in nearly seven years. Ripple also settled a lawsuit with the SEC for a $125 million fine.
XRP price is up 10.5% on the daily chart, 5% on the weekly chart, and 274.8% since January 2024. Despite the upside momentum, the asset has faced a 9.1% correction over the past month.
Why is XRP increasing in price?
The latest price increase of XRP occurred after a general market rally. The cryptocurrency market seems to be recovering after a recent correction. Bitcoin (BTC) has reclaimed the $95,000 level after dropping below $93,000.
The price increase of XRP may be due to the upcoming inauguration of elected President Donald Trump. Trump will be inaugurated on January 20, 2025. Trump's victory in the U.S. presidential election has led to a significant price rally in the market. Many predict a prolonged rally under Trump's leadership. XRP may witness a significant price increase in the coming weeks.
AI predicts asset prices when Donald Trump takes office
According to CoinCodex, XRP will reach $2.54 by January 20, 2024. Achieving $2.54 from the current price would result in an increase of approximately 7.63%. The platform does not predict the asset's price will stagnate after Trump's inauguration. CoinCodex predicts XRP will reach unprecedented levels.
The platform predicts the asset will trade at $4.63 by March 19, 2024. Achieving $4.63 from the current price will translate to an increase of approximately 96.19%. The price of XRP may continue to rise throughout this year. WisdomTree has filed for a spot ETF. If approved, the underlying asset could exceed $10.
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