The cryptocurrency market seems to be in the early stages of another bull run. Bitcoin (BTC), the original crypto, has reclaimed the $63k price point, a level last seen in 2021. BTC’s rally over the previous week has trickled into other altcoins, leading to a market-wide rally. Ripple’s XRP token has also witnessed a significant price spike over the last few days.
XRP is currently up by 5% in the daily charts, 19% in the weekly charts, 14.6% in the 14-day charts, and 26.6% over the previous month. Moreover, the asset’s price has increased by 70.3% since March 2023.
Also Read: Ripple XRP To Rally 54% To $0.91: Predicts Analyst
Can Ripple’s XRP hit $1 in March 2024?
According to CoinCodex, Ripple’s XRP token could hit a high of $0.831384 on Mar. 16, 2024. However, the platform does not anticipate the asset to breach the $1 mark yet. CoinCodex predicts a price correction for XRP in the latter half of March.
Also Read: Forbes Predicts Ripple (XRP) Price If Bitcoin Reaches $150,000
Changelly also does not expect XRP to hit $1 in March. The platform predicts XRP to reach a maximum price of $0.824374 in March, which it may attain on the 15th. However, the platform anticipates XRP’s price to fall in the second half of March.
According to Changelly, Ripple’s XRP could hit a maximum price of $0.94570542 in 2024, an increase of about 47.7% from current levels. However, the platform anticipates XRP to breach the $1 mark in 2025, reaching a maximum price of $1.34 for the year.
One of the most significant barriers to the asset’s price is the ongoing lawsuit between the SEC (Securities and Exchange Commission) and Ripple. If Ripple receives a favorable verdict from the US High Court, XRP could surge to new highs sooner than anticipated.