Ripple’s XRP token is one of the most popular cryptocurrencies. The asset is one of the most commonly used currencies for cross-border remittances. According to a report by the European Securities and Markets Authority (ESMA), XRP’s trading volume surpassed Solana (SOL) and Binance’s BNB in 2023. However, XRP’s market capitalization fell below SOL and BNB last year.
XRP hit an all-time high of $3.40 six years ago in January 2018. While most other assets hit their respective highs in 2021, the asset’s growth has stagnated, likely due to the SEC’s (U.S. Securities and Exchange Commission) lawsuit against Ripple.
Can Ripple's XRP Reach All-Time Highs in 2024?
The price of XRP briefly rose in 2023 after a U.S. District Court ruled partially in favor of Ripple. The court said that selling XRP to retail customers did not violate securities laws. However, the lawsuit is now in the High Court, and investors are awaiting a ruling. If the High Court's ruling is similar to the District Court, we may witness a sudden surge in the adoption and price of the asset.
According to Changelly, XRP could regain its all-time high in 2028, about four years from now. The platform predicts that XRP will reach a peak price of $3.57 in 2028, which would be an increase of about 573.5% from current levels.
Telegaon, on the other hand, paints a more bullish picture for Ripple’s XRP token. The platform expects XRP to hit new all-time highs next year. According to Telegaon, XRP could reach a peak price of $3.97 in 2025.
However, until Ripple obtains a favorable decision from the High Court, XRP is unlikely to reach its 2018 peak. If the High Court clears XRP’s designation as a security, the asset could see mass adoption and a surge in price.
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