Unraveling the XRP Mystery: Will $1 Become Reality?
As Ripple's native token soared to an 11-week high, surpassing over US$0.60, all eyes turned toward the crypto world. But amidst this surge, the question looms: Can the $1 XRP prophecy ever come true?
Recent data from Cryptoglobe reveals XRP's 2% surge in the last 24 hours, trading above $0.60, with a market cap of $34.4 billion. This surge mirrors a 1.49% increase in the overall crypto market cap to $1.29 trillion.
Analysts are optimistic about this upward trend for XRP, envisioning potential surges toward the coveted $1 mark. CrediBULL eyes $0.90 by summer 2024, provided XRP maintains levels between $0.40 and $0.50.
Another voice, Dark Defender, forecasts a rise to $0.66 in the short term, potentially soaring past $6 next year if it breaches the $1.3 level, navigating several support and resistance levels.
However, CryptoBull's speculation of $220 in the next surge seems far-fetched, considering the unrealistic requirement of an XRP market cap over $100 trillion.
XRP Climbs to Its Pinnacle Since Mid-August
The recent surge in XRP's price owes its credit to Ripple's legal victories against the SEC. A Federal Judge's ruling in July regarding past programmatic sales propelled XRP above $0.85, later settling around $0.50.
Further legal successes ensued as the SEC's appeal was rebuffed, and charges against Ripple's top executives were dropped, triggering the largest surge in XRP's price in months, marking a rise of over 19% in the last 30 days.
Many analysts foresee Ripple nearing a definitive win in the legal battle that commenced in December 2020. All eyes are set on the trial scheduled for April 2024, promising closure to this prolonged legal saga.
