Ripple’s XRP token is currently outperforming the top 10 projects by market cap in the daily charts. The asset is also outperforming Bitcoin (BTC) and Dogecoin (DOGE) in the weekly charts. XRP’s weekly performance is only bested by Cardano (ADA), which has risen by more than 20% in the last week.
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XRP’s Latest Gains
XRP’s price is up 5% in the daily charts, 12% in the weekly charts, 93.4% in the 14-day charts, and 197.3% over the previous month. The asset’s price has also risen by 155% since late November 2023. XRP breached the $1 mark earlier this month for the first time since November 2021.
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Can The Asset Hit $2 Soon?
According to Changelly, Ripple’s XRP token will face a correction over the next month. The platform anticipates the asset to fall below the $1 mark by the end of December. Changelly analysts predict XRP will trade at $0.935 on Dec. 28, 2024. Falling to $0.935 from current price levels will entail a correction of about 40.06%.
CoinCodex also paints a similar picture for Ripple’s XRP token. The platform anticipates the asset’s price to continue falling throughout December. CoinCodex expects XRP to trade at $0.954 on Dec. 25, 2024.
Ripple’s XRP may gain momentum if Bitcoin (BTC) begins an ascent. There is a possibility that BTC will breach the $100,000 mark before 2025. If BTC hits $100,000, we may witness another market-wide rally. In such a scenario, XRP could surge to the $2 mark. Hitting $2 from current price levels will translate to a rally of about 28.2%.
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Ripple has also settled its lawsuit with the SEC. The development may help XRP climb to a new yearly peak.