Ripple’s XRP is facing a tough challenge to break above the $0.57 barrier. Although the asset is up 0.5% on the daily and 14-day charts, it has seen a decline of 6.3% on the weekly charts and 6.9% over the past month. The price of XRP has also fallen by 5.6% since August 2023. In this price prediction article, we will look at how XRP performed over the weekend
Factors Affecting XRP's Performance Over the Weekend
XRP’s current poor performance is in line with the overall cryptocurrency market trend. Bitcoin (BTC) has fallen to $58,000, with the global cryptocurrency market cap at $2.16 trillion, down 0.6% in 24 hours.
Why the lackluster performance?
XRP saw a price surge last week after a settlement was reached in a lawsuit filed by the Securities and Exchange Commission (SEC) against the financial firm. The lawsuit has been a major drag on the cryptocurrency’s price in recent years. The surge did not last long as prices appear to have stabilized.
XRP Weekend Price Prediction
According to analysts at Changelly, XRP could break above $0.70 over the weekend, reaching $0.741189 on Sunday, August 18, 2024. This would result in a rise of around 32.3% if it reaches $0.741189 from current levels.
CoinCodex analysts also expect XRP to see a surge over the weekend. The platform expects the asset to reach $0.607 on Sunday, August 18, 2024. At current prices, reaching $0.607 would require an increase of around 8%.
XRP Price Prediction
Given the positive outcome of the SEC lawsuit against Ripple, XRP could see an acceleration in the coming weeks.
There is also a lot of talk about the launch of an XRP ETF soon, which could greatly help push the price of XRP to new levels.
