Ripple’s XRP token is one of the most popular cryptocurrencies in the market. The asset is a popular choice among users for cross-border remittance. Following the current market trend, XRP is witnessing a significant price surge over the last few days. The asset has rallied 4.2% in the daily charts, 10.6% in the weekly charts, and 13.3% in the 14-day charts. Moreover, the asset is up by nearly 43% since February 2023.
Also Read: Ripple: Investing $1,000 in XRP Could Make You a Millionaire, Here is How
The current market sentiment is likely due to Bitcoin (BTC) reclaiming the $52k mark, a level last seen in 2021. BTC began to spike after a surge in inflows for spot BTC ETF (Exchange Traded Fund) products.
Despite the recent rally, XRP’s movements have been slow, possibly due to Ripple’s ongoing lawsuit with the US SEC (Securities and Exchange Commission). The SEC alleges that the sale of XRP breaches securities laws. Last year, a US district court ruled favorably for Ripple, stating that selling XRP to retail clients did not breach securities laws. However, the suit has entered the high court, and investors await a ruling.
When will Ripple’s XRP breach the $2 mark?
According to Changelly, XRP could breach the $2 mark sometime in 2027, about three years from now. The platform anticipates XRP to hit a maximum price of $2.88 that year, a rise of over 400% from current levels. As for 2024, Changelly anticipates XRP to reach a maximum price of $0.87171282, a rise of about 52% from current levels.
Also Read: Ripple (XRP) Aims for Massive Breakout from 3-Year Symmetrical Triangle.
Telegaon, on the other hand, is more bullish on Ripple’s XRP token. The platform anticipates XRP to breach the $2 mark in 2024, hitting a maximum price of $2.28 this year. Reaching $2.28 from current price levels would translate to a growth of about 300%.