[Experts say it would be strange if XRP doesn’t hit $20 in this bull market]
The price of XRP is recovering from previous significant selling pressure and is currently trading at $0.5322, up 1.45% in the past 24 hours. Despite a 9.5% loss this week, market watchers remain optimistic about XRP’s prospects.
Analyst ModernInvest believes it would be “strange” if XRP failed to reach $20 during this bull run. He emphasized that with the upcoming launch of Ripple’s RLUSD stablecoin in the fourth quarter of 2024, XRP’s transaction volume and burn rate will increase significantly, supporting price increases. Currently, 12.88 million XRP have been burned, with the number burning increasing with each transaction.
In addition, the XRP trust fund launched by Grayscale saw its net asset value grow by more than 11% in its first week, showing increased interest from institutional investors in XRP, further supporting price growth. Additionally, Bitwise has also filed an application with the SEC for an XRP ETF, which is expected to further drive demand.
ModernInvest believes that based on the accumulation of institutional and retail investors, XRP’s price reaching $20 by next year is reasonable. From current prices, XRP would need to rise by 3,657% to achieve this goal.
