XRP, developed by Ripple Labs for fast cross-border financial transfers, continues to captivate investors as the 6th largest cryptocurrency by market value. Once among the top 5 cryptocurrencies before Solana’s (SOL) surge, XRP is showing signs of life again. Analysts’ predictions for XRP in 2024 have been compiled for investors’ insights.
Technical indicators suggest a bullish trend for XRP, as its chart patterns have formed a descending wedge formation, which is a bullish sign in technical analysis. The price movements from December 8th at $0.67, November 6th at $0.71, and July 13th at $0.81 over various time frames support this analysis.
Currently trading below its all-time high of $3.84, XRP’s price hovers around an average of $0.62. A return to its previous peak would signify an impressive 84% increase. The expectations for the next bull run are heightened, especially after Ripple had to skip the 2020-2021 bull market due to a lawsuit filed by the U.S. Securities and Exchange Commission (SEC).
While technical indicators are bullish, market observers and analysts continue to release notable predictions for XRP in 2024. Changelly’s price prediction charts suggest an average rise to $0.81 for XRP in 2024, based on the Prague-based cryptocurrency exchange analysts’ technical analysis.
Egrag Crypto, a renowned cryptocurrency analyst, predicts XRP will surpass $1 within the next 55 days, aiming for $1.20. This analyst also notes XRP’s tendency to crawl like a snail before sudden price jumps. Dark Defender, another experienced analyst, expects XRP to break records above $5 by the second quarter of 2024, with an initial target of $1.88. James Crypto, known for using the Elliott Wave theory, anticipates XRP to rise between $5 to $13 by March-April 2024, coinciding with Bitcoin’s block reward halving period.
JWK, a famous YouTube host known for his unique crypto commentary, has made an even more astonishing prediction, suggesting a highly improbable target of $352 for XRP.