The cryptocurrency market continues its slump, with Bitcoin (BTC) slipping below $57,000 again. Other assets follow BTC’s suit, with the global market cap dipping 1.9% to $2.07 trillion.
Ripple’s XRP token also adheres to the current market trend, falling 0.9% in the daily charts, 3.8% in the weekly charts, 6.3% in the 14-day charts, and 5.5% over the previous month. Despite its recent losses, XRP’s price is up by 7.3% since September 2023.
While XRP is facing a fair share of hurdles momentarily, many believe the asset’s price will exceed $10. Let’s find out when.
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XRP Price Predictions and Potential Barriers
XRP Predicted To Hit $10
According to the analysts at Changelly, Ripple’s XRP token will hit the $10 mark in 2031, potentially reaching a maximum price of $10.77 that year. A rally of around 1932% would result from hitting $10.77 from current price levels.
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Telegaon’s Bullish Prediction
Telegaon analysts are slightly more bullish on XRP than Changelly. The platform anticipates XRP breaking the $10 mark in 2029, about four years from now, and expects XRP to hit a maximum price of $10.79 in 2029.
Can The Asset Hit $10 Any Sooner?
One of the most significant barriers to XRP’s price was Ripple’s lawsuit with the SEC, which kicked off in December 2020. The lawsuit was one reason XRP did not hit a new all-time high in 2021, while many other assets did. Both parties recently agreed to settle the case, with Ripple paying a $125 million fine.
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XRP is already a popular asset for cross-border remittance purposes. With the lawsuit out of the way, XRP could see a new all-time high in the next bull run. We may see the asset breach the $10 much sooner than forecasted.