The digital asset industry has closely observed a return to relevance for Ripple (XRP) with a recent forecast noting its potential to possibly reach $1.50 in the coming year. Amid its ongoing legal conflict with the US Securities and Exchange Commission (SEC) coming to an end, there is immense potential for its price in 2024.
Ripple has long been observed as one of the “blue chip” digital assets on the market. Moreover, as the entire industry could be headed toward a positive year, there is no understating of the momentum XRP could capture. Specifically, one event could lead it to well beyond the $1 mark.
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Analysts Predict One Factor To Lead Ripple (XRP) to $1.50
For much of the last year, Ripple has been on a tremendous comeback tour. Indeed, the company had made strides in its years-long battle with the SEC. Subsequently, it has seen its token price coincide with overall market health and positive trajectory. However, one incoming event could mean even more gains for the XRP token.
Specifically, a few analysts have forecasted that Ripple (XRP) could be one major event away from an ascension to $1.50 in the coming year. Crypto expert Ausin Hilton shared his perspective that the approval of a Spot Bitcoin ETF would allow Ripple and other blue chip tokens to experience massive increases.
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Although it is an external development, Hilton joined Bloomberg’s James Seyffart and Erich Balchunas who expect altcoins to get a massive rub from Bitcoin’s expected increase. Moreover, they note that Ripple would be in for a rather dramatic increase beyond the $1.50 mark.
Conversely, this reality is not considering what a favorable outcome to Ripple’s SEC lawsuit would bring. These two developments combined could help propel the asset even further. Many have predicted an end to the legal proceedings taking place in 2024. If that happens, then the token will certainly have momentum to carry it to heights nearing $1, and beyond.