Ripple (XRP): Analyst Projects 500% Rally to $3 in 2024

Joshua Ramos

The start of a new year brings renewed optimism, especially considering the high note that the digital asset sector ended in 2023. Now, one of the most prominent investments of last year could very well bear fruit rather soon. Specifically, speaking of Ripple (XRP) one analyst has projected a 500% rally to $3 in 2024.

Very few digital assets had seen the kind of turnaround that Ripple enjoyed last year. It was able to make massive strides in its years-long legal conflict with the US Securities and Exchange Commission (SEC). Subsequently, a potential conclusion could be a game change for its overall price.

As Ripple (XRP) enters the new year with a renewed optimist, one analyst has projected a 500% surge to $3 for the token in 2024.
Source – Coinpedia

Also Read: Ripple: How High Can XRP Rise In January 2024?

Ripple (XRP) On Its Way to $3 in 2024?

Throughout 2023, cryptocurrencies found renewed appreciation and optimism. That started with Bitcoin (BTC), as the asset had soared ahead of $45,000 to start the new year. Moreover, on the heels of a potential Spot Bitcoin ETF approval, it could propel even further.

Yet, one asset that has comfortably compared as far as return to relevancy is Ripple (XRP), which one analysts have protected could catapult 500% this year, to exceed a price of $3. Specifically, EGRAG Crypto, took to X (formerly Twitter) to close his projection for the asset, and what could come from an impending “Cycle B Pattern.”

Also Read: Ripple (XRP) Soars, Eyes $0.80 Amidst New User Surge

Currently, Ripple (XRP) is trading at $0.625, which is up almost 1% over the last 24 hours. Moreover, EGRAG specifically is projecting a potential climb of about 487% to reach an XRP price of $3.70 from that current mark. Ultimately, the bullish projection would hage the asset barreling toward its all-time high of $3.84.

The continued development of the XRP cycle will help to shape its potential transformation throughout this coming year. However, external factors could coincide with its chart movements to propel it even further. IF a conclusion arises from its SEC lawsuit, it could very well be headed toward previously uncharted territory.