Ripple’s XRP token has faced significant hurdles over the last few years. The asset last traded over the $1 mark in late 2021, nearly three years ago. Despite its lacklustre performance, XRP has maintained its popularity in the crypto community and is still one of the most popular currencies for cross-border remittance.
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How Long Do You Have to Wait for XRP to Hit $5?
For XRP to hit $5 from its current price, the asset will have to rally by nearly 793%.
According to the analysts at Changelly, Ripple’s XRP token could hit a new all-time high of $3.57 in 2028. As for the $5 mark, the platform anticipates the token breaching it in 2029, about five years from now. The platform predicts XRP will hit a maximum price of $5.004 in 2029.
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Telegaon researchers are more bullish on Ripple’s XRP token. The platform anticipates XRP to hit an all-time high of $5.18 in 2026, about two years from now.
September 2024 Forecast
Given that the Federal Reserve has stated that interest rates will be lowered starting next month, the cryptocurrency market could rise in September 2024.
Decreased interest rates may encourage more people to invest in riskier assets like cryptocurrency.
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Data from CoinCodex suggests that on September 3, 2024, XRP may reach its highest point of about $0.76. The platform projects a fall back to present levels by the last week of September, and it does not expect prices to hold above $0.70.
XRP may defy the prediction as Ripple has settled its lawsuit with the SEC, one of the most significant barriers to the asset’s price. Coupled with an interest rate cut, the asset could witness a bold rally next month.