Unapproved Bitcoin (BTC) exchange-traded fund (ETF) applications have become a central catalyst for the industry’s expectations, as major cryptocurrencies approach pre-bear market levels. During this period, the total market value surged by 65% to $1.65 trillion, prompting many experts to label this phase as an early bull market.
According to company analysis, XRP‘s price in January 2024 is projected to average $0.50, potentially signaling a correction. The monthly average price is expected to rise steadily to $0.85 by December 2024. Overall, XRP’s average price for 2024 is anticipated to be around $0.77.
CoinLedger’s CEO, David Kemmerer, predicts XRP could range between $1.00 and $1.20 in 2024. Similarly, the cryptocurrency exchange Bitrue targets a range of $1.5 to $2 for the payment-focused cryptocurrency in 2024. Bitrue’s analytical report concludes that achieving millionaire status through XRP in 2024 will require a comprehensive understanding of the market, willingness to take calculated risks, a diversified investment approach, and a keen eye on ongoing market dynamics.
Another crypto analyst, David Kemmerer, also issued a cautionary note, emphasizing the high potential of investing in XRP but also the associated risks. Investors should carefully consider how much they choose to invest.
Investors should also consider other factors that could significantly impact XRP’s market value in 2024. Rumors about Ripple‘s initial public offering (IPO) could be a game-changer. Wall Street investment expert Linda Jones predicts Ripple could go public as early as May 2024, which could substantially increase XRP’s value. Despite Ripple’s significant gains, legal complications for the company have not been fully resolved. A jury trial, which will determine the fate of senior executives including CEO Brad Garlinghouse, is scheduled for the second quarter of 2024.