Ripple’s XRP token has faced a steep correction in the weekly charts, falling over 9.1%. Moreover, the cryptocurrency is down by almost 7% over the previous month. Nonetheless, XRP is still up by 65.5% since January 2023.
However, despite the recent correction, analyst Egrar Crypto believes XRP can rally 40x. The analyst highlights how the token rallied 20x in the previous cycle despite Ripple facing a lawsuit from the US SEC (Securities and Exchange Commission). This time, Egrag Crypto believes, with more legal clarity, XRP could rally 40x or 50x.
Also Read: Ripple: Will XRP Reclaim its All-Time High of $3.40 in 2024?
A 40x growth from current levels would take XRP’s price to about $11, growing more than 1800%. On the other hand, a 50x growth would take the token to $14, a growth of over 2350% from current levels.
When can Ripple’s XRP surge to $11 or $14?
XRP still faces some regulatory uncertainty, given that the SEC vs. Ripple lawsuit has entered the high court. The asset’s price will likely not rally to such highs without the high court ruling. Ripple received a favorable ruling from a district court, which said that selling XRP to retail clients did not breach securities laws. There is a chance that the high court will take a similar stance. In such a scenario, we may see a sudden surge in XRP’s price.
Also Read: Ripple: ChatGPT Explains How XRP Can Rally 560% to $4 in 2024
According to Changelly, XRP won’t breach $11 till at least 2031. Moreover, the platform anticipates XRP to hit $14 sometime between 2031 and 2032.
Telegaon also paints a similar picture for XRP. The platform anticipates XRP to hit $10 in 2030 and $11 and $14 sometime between 2030 and 2035.
However, if we enter a 2021-like bull run this year, we may see Ripple’s XRP hit new highs sooner than previously anticipated.