In the last week, XRP experienced a 19.9% increase in its value against the U.S. dollar, reaching a peak of $0.744 per coin on March 11, 2024. Its price has since retreated a hair, now trading at $0.685 per XRP. Although the digital currencyâs market results havenât captured as much attention as bitcoin and ethereum, proponents of XRP, the sixth biggest cryptocurrency by market capitalization, anticipate itâs poised for an upswing.
Amidst a Flourishing Crypto Economy, XRP Enthusiasts Bet on a Bright Future
The crypto market has experienced significant growth recently, with the combined value of the myriad cryptocurrencies currently standing at approximately $2.7 trillion. Bitcoin (BTC) and a number of other digital currencies have either hit record price levels or are nearing their previous highs. In contrast, XRPâs performance has been relatively modest. For example, while BTC has climbed 172% in the last six months and ETH has increased by 146%, XRP has only registered a 42% increase against the U.S. dollar during the same period.
Seven-day statistics show XRP has increased by 19.9% and 17.9% over the past two weeks. Despite the subdued market results, XRP enthusiasts and members of the so-called âXRP Armyâ believe the digital currency is on the brink of a substantial uplift. One advocate recently mentioned that XRPâs price trends appear âeerily similar to 2017 before it,â while another commented that XRP will âleave all crypto in the dust.â âYou canât stop the inevitable XRP,â the X account dubbed Black Swan Capitalist wrote.
XRP has consistently ranked among the top ten crypto assets for several years, yet the ongoing lawsuit between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) has loomed large over the cryptocurrency. Additionally, the personal XRP accounts of Ripple Labs co-founder Chris Larsen were compromised, resulting in the freezing of assets due to unauthorized access. This breach event garnered considerable focus within the cryptocurrency sphere and might have contributed to a hindrance for XRP amidst the recent crypto economyâs ascent.
Online forecasts are quite optimistic, with a Primexbt report stating that XRP is undervalued and some âpunditsâ believing it âcould be worth as high as a maximum price of $4.â Predictions featured on the Changelly blog suggest XRP could achieve a value of $0.846 per unit by Mar. 30, 2024. This year, Changelly anticipates XRP will close with a minimum price of $0.983, an average value of $1.01, and a peak price of $1.16 per coin. Additionally, the projected minimum price for 2025 is $1.39 per XRP, with the highest expected price being $1.69. The blogâs forecasts, extending up to 2027, still do not surpass XRPâs historic peak.
Online forecasts are quite optimistic, with a Primexbt report stating that XRP is undervalued and some âpunditsâ believing it âcould be worth as high as a maximum price of $4.â Predictions featured on the Changelly blog suggest XRP could achieve a value of $0.846 per unit by Mar. 30, 2024. This year, Changelly anticipates XRP will close with a minimum price of $0.983, an average value of $1.01, and a peak price of $1.16 per coin. Additionally, the projected minimum price for 2025 is $1.39 per XRP, with the highest expected price being $1.69. The blogâs forecasts, extending up to 2027, still do not surpass XRPâs historic peak.
XRP proponents fondly recall the 2017 bull run as it approached the time when the digital currency neared its all-time price peak. It wasnât until Jan. 7, 2018, that XRP reached $3.40 per coin, nearly six years ago. Unlike BTC and ETH, which reached new zenith prices during the 2021 bull run, XRP did not surpass its previous high. Today, it still needs to rise by 75% to even approach its 2018 highs, and in this bull run, it faces a host of new crypto competitors in the top ten rankings.
What do you think about XRPâs performance during the crypto economyâs upswing and the optimistic sentiment from supporters? Share your thoughts and opinions about this subject in the comments section below.
