According to well-known XRP owner Egrag Crypto, the token could reach $6.24 in 2024. This means that the cryptocurrency will increase by 836% compared to yesterday's price.

Egrag also expects XRP to see a whopping 3,581% increase between 2024 and 2025, which will take the altcoin price to $26.

Considering that XRP is currently hovering around $0.6, the mood is most optimistic.

Meanwhile, token supporter Ripple's forecast was based on XRP forming a bullish flag.

This is a figure formed by two rises and separated by a correction.

In the current market cycle, XRP reaching such heights may seem impossible, but in a full-blown bull market it is not impossible. Egrag's decision to set the likely time frame to 2024 and 2025 could be linked to the Bitcoin halving, which is causing a rally in BTC and altcoins.

However, as it stands now, XRP may need more than just a burst of accumulation to get close to or reach the aforementioned price target.

One factor that could play a determining role is the outcome of Ripple's long-standing case with the US Securities and Exchange Commission.