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TL;DR
- XRP’s price recently increased by 11%, with predictions indicating potential significant growth in the near future.
- The ongoing legal battle between Ripple and the SEC, along with market and regulatory factors, could be crucial for XRP’s price trajectory in the following months.
Most Recent XRP Predictions
Ripple’s XRP did not start the year on the right foot, erasing much of the gains registered in 2023 and dropping below the $0.50 mark at the beginning of February. However, bulls stepped in during the past few weeks, with the asset’s price up 11% on a 14-day scale (per CoinGecko’s data).
Some analysts believe the uptrend could continue in the following months, with the X (Twitter) user EGRAG CRYPTO among the examples. The expert provided a chart, according to which XRP has encountered resistance at $0.61 (depicted as the Fibonacci Speed Resistance Fan).
EGRAG CRYPTO maintained that the next support levels are $0.75, $1, $1.50, and $1.96. The last is expected to be reached by the end of 2024, following which FOMO (Fear of Missing Out) might kick in and propel a price explosion toward $27.
Dark Defender also gave their two cents, assuming that XRP could spike to $2 by mid-2024 and continue rising to an all-time high of $6 before the end of the year.
The crypto analyst, using the X handle Marzell, laid out a short-term forecast, envisioning a 30% price jump to approximately $0.72 during the ongoing week.
Those curious to explore several important signs that hint about an XRP bull run during 2024 feel free to take a look at our latest video below:
ChatGPT’s Estimation
The popular AI-powered chatbot recently outlined several crucial factors that could trigger a potential XRP price surge toward the $2 milestone.
The first, and perhaps the most obvious one, is the outcome of the legal battle between Ripple and the United States Securities and Exchange Commission (SEC).
The trial between the two parties is scheduled for April 23, with the company securing three partial court wins throughout 2023. The regulator also achieved a small victory as of late, with Judge Sarah Netburn ruling that Ripple should disclose important financial records for 2022 and 2023 (as insisted by the SEC).
ChatGPT estimated that favorable market sentiment, an appropriate cryptocurrency regulatory framework, and adoption could also play a role in XRP’s future price trajectory.
This article first appeared at CryptoPotato
