As of December 29, 2024, XRP is trading at approximately $2.19, reflecting a slight increase of 0.92% over the past 24 hours.
Despite this modest uptick, XRP has experienced a decline from its peak of $2.89 on December 3, 2024.
This downturn aligns with a broader market trend influenced by recent regulatory developments.
On December 27, the Biden administration finalized a crypto broker tax reporting rule targeting DeFi trading, stablecoins, and NFTs. This move has introduced volatility into the crypto market, affecting assets like XRP and Bitcoin.
Additionally, the SEC's ongoing lawsuit against Ripple remains a focal point. The SEC's decision on whether to appeal the July 2023 ruling—which stated that XRP is not a security when sold on exchanges—is anticipated by January 15. An appeal could lead to XRP being classified as a security, potentially resulting in exchange delistings and impacting demand. Conversely, a decision not to appeal could bolster XRP's market position.
Despite these challenges, some analysts maintain a positive outlook for XRP. Crypto expert Levi Rietveld predicts that XRP could reach up to $70 by 2025, with a conservative target of $20 to $23 per coin, depending on market dynamics and adoption rates.
In summary, while XRP faces short-term volatility due to regulatory developments, its long-term prospects remain a topic of active discussion among investors and analysts.
🚀$70 in 2025