Despite the asset’s poor performance amid an overall market downturn, Ripple (XRP) has been predicted to reach a price of $4 in 2024. Indeed, the forecast is based on historical data from 2021 that shows the potential for increase. Moreover, the projection also estimates a $1.8 ascension at the midpoint of the year.
Just four months into 2024 XRP has failed to live up to some expectations. Since the Bitcoin Halvign event on April 19th, it has shown some bullish signals but has still retreated below the $0.52 mark. Over the last 30 days, the asset has fallen more than 18% in value according to CoinMarketCap.
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Ripple (XRP) Targets $4 in 2024 Based on Historical Data?
Entering 2024, there were high hopes for Ripple. The company was set to finally conclude its years-long legal battle with the US Securities and Exchange Commission (SEC). Moreover, it had enjoyed some key victories in that ongoing conflict regarding its native cryptocurrency.
Conversely, four months into the year it has yet to solidify an upward trajectory. This can be set to change, however, as Ripple (XRP) has been predicted by one analyst to reach a $4 price point in 2024. That would represent a massive surge for the token and a new all-time high.
According to X (formerly Twitter) user EGRAG crypto, the pricepoint is possible when observing 2021 developments. Specifically, the analyst noted that the target price is feasible following a prediction of a $1.4 price surge in the summer months, with a $1.8 target price.
Also Read: Ripple Hits Record XRP Millionaires as it Rides 10% Weekly Surge
Overall, the prediction relies on the asset following a 2021 price movement. However, historical-based predictions are not unifiable and are perceived as the most accurate. The digital asset must first contend with an overall market downturn and its inability to break through above $0.55 consistently.
Many had perceived the Bitcoin Havling as a chance for that to take place. Alternatively, more than five days after it took place the asset has failed to break out in any notable way. With Ripple proposing a settlement with the SEC, there are thoughts such a conclusion could be the necessary momentum to push it upward.
Still, any resolution is sheer speculation at this point, as both sides appear far apart on what would justify accurate and acceptable settlement payments. The asset is still bullish for many investors who are continually encouraged by Ripple’s steadfast persistence in the sector.