In a recent significant development, a US judge handed down a ruling that determined Ripple’s XRP should not be classified as a security. However, the lawsuit still keeps dragging on with no proper closure date. As a result of this pivotal decision, the price of XRP experienced a remarkable surge in the market.
Nevertheless, the surge was short-lived. XRP’s price has not been as high as other altcoins. However, alongside the recent surge of BTC above $67,000, altcoins are putting out a notable surge. XRP is no exception, as it has breached the crucial 40.6 resistance.
XRP is trading at $0.6458, with a 0.6% surge in value over the past 24 hours. The coin is up 15% over the last 7 days and 26% in the last 30 days. Here is our price prediction for Ripple XRP and whether it can hit an all-time high during this bull run.
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Can XRP hit $1 soon?
XRP hit its all-time high of $3.40 on January 7, 2018. According to the latest data, the coin is down by over 81% since its all-time peak.
Cryptocurrency experts at Changelly have given their price prediction for Ripple XRP. According to their prediction, XRP is predicted to hit $3.40 in 2028. The analysts also forecasted XRP to reach a minimum of $0.653 and a maximum of $0.863 in March. The average price of XRP is expected to be $0.758.
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The price of XRP went as high as $0.8875 when a US judge declared that XRP is not a security. It provided a boost to the price of Ripple, and several exchanges relisted XRP. However, the price has plunged.
The next leg of the bullish run for Ripple could depend on the overall market conditions. It is also heavily dependent on the outcome of the much-awaited SEC vs. Ripple lawsuit. The outcome of the lawsuit could also determine whether the coin can hit its all-time high this bull season.