Ripple’s XRP token was struggling to overcome the $0.65 resistance level. However, the asset witnessed a price spike on Mar. 11, 2024, rising from $0.61 to $0.71 within a few hours. Despite the recent rally, XRP’s growth has been slow compared to other cryptocurrencies. XRP is currently up by 10.4% in the weekly charts, 17.2% in the 14-day charts, and nearly 30% over the previous month. Moreover, XRP has rallied by almost 84% since March 2023.
XRP’s slow rally is likely due to Ripple’s ongoing lawsuit with the SEC (Securities and Exchange Commission). Moreover, it is also probably why XRP did not hit an all-time high in 2021, while others did. Nonetheless, this may soon change.
Ripple’s XRP to hit new all-time high
According to crypto analyst Leb Crypto, XRP could reclaim its 2018 all-time high of $3.40 before or after Bitcoin’s (BTC) halving event in April. Reaching $3.40 from current levels would translate to a growth of about 400%.
However, other analysts don’t foresee Ripple’s XRP reaching an all-time high yet. Changelly predicts the asset to hit a maximum price of $1.16 in 2024. Reaching $1.16 from current levels would translate to a growth of about 70.5%. The platform predicts XRP to reclaim its all-time high in 2027, reaching a maximum price of $3.53 for the year.
Also Read: Ripple XRP Predicted to Rally 383% And Hit $2, Here is When
Telegaon is more bullish on XRP, predicting the asset to hit a maximum price of $2.28 in 2024, a rise of over 235% from current levels. The platform does not anticipate XRP reclaiming its all-time high till at least next year.
However, there is a possibility that Ripple will receive a favorable ruling from the high court, which could lead to a surge in XRP’s adoption and price. In this scenario, we may witness XRP hit a new all-time high sooner than predicted by Changelly and Telegaon.