In what is certainly a sign of a changing tide for the asset Ripple (XRP) could be facing a remarkable 120% rally over the first half of 2024. Specifically, one crypto analyst has stated their expectation for the massive upward turn for the token to take place over the next six months.
Indeed, Alan Santana has taken to X (formerly Twitter) and TradingView to share their analysis of Ripple’s performance for the upcoming months. They note that the asset is facing a bullish long-term amid a price correction that is taking place currently.
Also Read: Ripple XRP Weekend Price Prediction
Ripple (XRP) Could Be Poised for Massive 2024 Gains
Few digital assets have had the kind of year that Ripple has had. Despite facing an ongoing lawsuit with the US Securities and Exchange Commission (SEC), the token has been on the up. Following a victory in that court case, the asset has been facing massive gains, despite recent price corrections.
Now, crypto analysis is pointing out what could be a massive year for the asset as 2023 comes to a close. Specifically, one analyst has predicted that Ripple (XRP) could be facing a 120% surge in the first half of 2024. Ultimately, noting a bullish long-term outlook could manifest in massive gains over the next six months.
Also Read: Ripple XRP Forecasted to Hit $2: Here’s When
After the US court ruled against the security status of XRP, the asset has returned to prominence within the community. Moreover, CoinShares recently reported that it, along with Solana (SOL) had observed a massive $4 million combined inflow. Moreover, its executed transactions have surpassed the 1.5 million mark recently. Therefore, signaling continued growth and usage despite a 5% dip in value.
Ultimately, Santana notes two potential outcomes for price corrections that Ripple faces. First, is the previously stated 120% surge in the next six months if a price correction drops it to the $0.43 mark. Alternatively, the token could see an 85% rally if it corrects to a price of $0.51, which further solidifies its tremendous potential.