Ripple’s XRP token has faced a 1.4% and 1.5% correction in the weekly and 14-day charts, respectively. However, the asset is still up by 0.9% in the last 24 hours and 3.4% over the previous month. Moreover, the token has surged by over 51% in the past year.
Also Read: Ripple: Over 500 Companies Use XRP as a Bridge, Can it Hit $1?
Analysts anticipate XRP to continue surging through the first weekend of December.
According to the machine learning algorithm at PricePredictions, XRP could rise to $0.6178 by Dec. 3, 2023. The price increase translates to a growth of about 1.16% from current levels. Moreover, the platform anticipates XRP to continue surging through the first week of December.
CoinCodex, on the other hand, anticipates Ripple’s XRP to hit $0.6405 by Dec. 3, 2023. The platform’s forecast translates to a growth of around 4.88% from current price levels.
Changelly also predicts a bullish outlook for XRP. According to the platform, XRP could rise to $0.7134 by Dec. 3, 2023. Changelly’s forecast is a 16.8% surge from the asset’s current price.
Overall, XRP is forecasted to have a bullish trajectory in December 2023.
Will Ripple’s XRP hit a new all-time high in 2024?
XRP hit its all-time high in January 2018. Although the crypto market entered a bull run in 2021, XRP did not show the same growth. The token’s lackluster performance in the 2021 bull run could be due to the lawsuit against Ripple by the SEC (Securities and Exchange Commission). However, in 2023, a US court partially ruled in favor of Ripple, saying that selling XRP to retail investors did not breach securities laws.
Also Read: Ripple XRP Nearing $1B in Trading Volume With $1 Price Nearing
The “non-security” label and Bitcoin’s (BTC) halving cycle in 2024 could push XRP to new heights. The token is currently down by over 80% from its January 2018 high of $3.40.