As the year-end approaches, the cryptocurrency market is experiencing one of its golden eras, with a gradual recovery in 2023 following an incredible crash in 2022, and a peak performance by November. XRP, despite a 4% rise in the last 24 hours, lagged behind its competitors and struggled to fully adapt to the surge. Nevertheless, the increase has pleased investors, while speculation abounds whether XRP can hit the $1 mark.
Recent XRP analysis suggests that for the first time since its all-time high (ATH) of $3.84 in 2018, a significant bullish structure is forming on the monthly chart. This performance has been triggered despite major obstacles like the SEC lawsuit that emerged in 2020, indicating resilience in XRP’s overall performance.
In addition to performance indicators, Ripple‘s creation of a new Senior Shareholder Communications Director position has fueled rumors of a potential initial public offering (IPO). The job description includes responsibilities typically associated with IPO preparations, such as managing investor relations and communicating with shareholders and analysts.
The establishment of this position seems to aim at restoring investor confidence and leveraging market dynamics for XRP. A swift resolution of the SEC lawsuit in favor of Ripple is seen as crucial in this context.
At the time of writing, XRP’s price was trading at $0.6361, with a 4% increase over the past 24 hours and a 7.37% gain over the week. A broader look reveals a 3.06% rise in XRP’s value over the last 30 days.
Over the past year, XRP’s price has increased by 84% since a pivotal decision in July, outperforming 52% of the top 100 crypto assets. During the last 30 days, 17 days were spent in positive territory, accounting for 57% of the time.