Ripple’s XRP token has had a rough few years. The asset last traded above the $1 mark in late 2021. XRP is also down by more than 84% from its all-time high of $3.40, which it attained in January 2018, over six years ago.
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Why Has XRP Struggled To Gain Momentum?
One of the most significant barriers to Ripple’s XRP was the fintech company’s lawsuit with the SEC. The financial watchdog accused the company of selling unregistered securities in December 2020. XRP’s performance somewhat stagnated after the development. Unlike other significant projects, the asset did not hit a new peak in 2021.
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Recently, the company settled with the SEC and paid a fine of $125 million. With the lawsuit out of the way, XRP may begin to turn things around for itself.
When Will The Cryptocurrency Hit $3?
According to Changelly analysts, Ripple’s XRP token may surpass the $3 mark in 2028. The platform anticipates the asset trading at a potential maximum price of $3.57 in 2028, which would also mark a new all-time high for the asset.
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Telegaon is a lot more bullish on XRP. The platform anticipates the asset to breach the $3 mark in 2026, hitting a potential maximum price of $5.18 that year. Hitting $5.18 from current price levels will translate to a rally of about 877.3%.
Given favorable market conditions, XRP may also hit the $3 target much sooner than anticipated. With the SEC vs. Ripple lawsuit put to rest, the asset may have the breathing room necessary for growth. The asset is already a popular choice for cross-border remittances, and adoption is only expected to grow.