Ripple’s XRP token has had quite a lucrative year in 2023. Since January of this year, XRP’s price has surged by almost 77%. The asset’s price increase is likely due to a US court ruling that the sale of XRP to retail clients did not breach securities laws.
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Despite its good performance this year, XRP is still down by over 82% from its all-time high of $3.40, which it attained in January 2018, almost six years ago. Most cryptocurrencies reached their all-time highs in late 2021. XRP did not rally as much in 2021 due to its legal battle with the US SEC (Securities and Exchange Commission). The lawsuit has entered a higher court in the US, and investors are awaiting a verdict.
When will Ripple’s XRP reclaim its all-time high of $3.40?
There is a possibility that the higher court will rule similarly to the district court and announce a verdict in favor of Ripple. If the ruling is in Ripple’s favor, XRP could reach a new all-time high. We do not have a timeline on when the court will announce its ruling, but some anticipate a verdict sometime next year.
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According to Changelly, Ripple’s XRP token could hit a maximum price of $1.18 in 2024. The price increase translates to a growth of about 96% from current levels.
According to Changelly, XRP won’t reach its all-time high before 2027. The platform anticipates XRP to hit a maximum price of $3.49 by 2027, almost three years from now. If XRP reaches $3.49, it would translate to a growth of about 480% from current levels.
Changelly also anticipates XRP to reach a maximum price of $10.72 by the end of this decade, a growth of about 1680% from current levels.
Hence, Ripple’s XRP token has a bullish outlook in the long term. With more adoption and partnerships, the asset could attain its all-time high even sooner.