The cryptocurrency market is showing signs of entering the early stages of a bull run. Bitcoin (BTC), the largest cryptocurrency by market cap, has reclaimed the $56k price point, a level not seen since December 2021, over two years ago. BTC’s rally has trickled down to other altcoins as well. Ripple’s XRP token has rallied 4.3% in the daily charts, 5.5% in the 14-day charts, and 5% over the previous month.
Also Read: Ripple: How Much XRP You Need to Make $1M if Price Hits $11.26, $28.20, $56.55?
Despite the latest rally, XRP struggles to overcome the $0.55 barrier. The asset faces significant resistance at this level, and the ongoing lawsuit between the SEC (Securities and Exchange Commission) and Ripple is not doing the asset any good.
Will Ripple’s XRP hit $1 in March?
According to CoinCodex, XRP could surge to $0.74 on Mar. 2, 2024, a rise of about 34.5% from current levels. However, the platform does not expect prices to hold, predicting a fall to around current levels by the end of March.
Also Read: XRP to Finally Soar Up to $1.40? Here is What the Analysts Have to Say
Changelly, on the other hand, anticipates Ripple’s XRP token to hit a maximum price of $0.710290 next month, which it may attain on Mar. 9. Reaching $0.710290 from current price levels would translate to a growth of about 29%.
Also Read: Ripple XRP: ChatGPT Predicts XRP Could Hit $10, Here is When
Changelly does not anticipate XRP to hit $1 this year. However, the platform believes the token could reach a high of $1.33 in 2025.
Telegaon, however, is quite bullish on Ripple’s XRP. The platform anticipates the asset to reach a maximum price of $2.28 this year. Reaching $2.28 from current levels would translate to a growth of about 314%. However, Telegaon does not clarify when XRP could reach $2.28.