Ripple’s XRP token has witnessed a lower rally when compared to other assets in its category. XRP is facing considerable resistance at around $0.65. The popular cryptocurrency has rallied 3.9% in the daily charts, 1.3% in the 14-day charts, and 15% over the previous month. Moreover, the asset is up by 35.7% since March 2023.
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XRP’s lackluster performance, despite a market-wide rally earlier this month, could be due to Ripple’s ongoing lawsuit with the SEC (Securities and Exchange Commission). While the fintech company received a partially favorable ruling from a US district court in 2023, the suit has now entered the high court, and investors await a verdict.
Will Ripple’s XRP hit $1 in April?
Crypto analyst Dark Defender says XRP could hit $1 in April. The analyst’s previous predictions of XRP hitting $0.64 on Mar. 1 and $0.77-$0.92 on Mar. 13 were successful. Hence, there is a possibility that Dark Defender might be on the money.
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According to CoinCodex, Ripple’s XRP may witness a price spike over the next few days. The platform anticipates the asset to hit $0.81 on Mar. 26, 2024, a rise of about 28.5% from current levels. However, CoinCodex does not expect prices to hold, predicting a correction soon after hitting $0.81.
Changelly also does not anticipate XRP to hit $1 this year. The platform predicts Ripple’s XRP to hit a maximum price of $0.96100389 in 2024. However, Changelly anticipates XRP to breach the $1 mark next year, hitting a maximum price of $1.45.
However, if Ripple receives a favorable ruling from the high court, we may witness a sudden surge in XRP’s adoption and price.