As 2023 comes to a close and 2024 approaches, XRP exhibits a positive trend across charts, trading at a pivotal price of $0.63. This performance is stirring excitement among traders and investors regarding potential price movements in the coming year. A notable crypto analyst, CoinsKid, shared a post on December 25th suggesting that surpassing the $0.6998 level could pose a threat to XRP bears and potentially indicate a significant recovery phase for XRP in early 2024.
Furthermore, the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC), if resolved favorably, could trigger an incredible price surge for XRP, possibly pushing it above the $1 mark. Another crypto market analyst, EGRAG CRYPTO, supports a scenario where XRP could soon reach between $1.30 and $1.50, reinforcing past predictions for the altcoin.
Additionally, analyst Ali Martinez commented on XRP’s recent performance, suggesting a potential pullback to the middle line of the ascending parallel channel observed over the last six months. This could be followed by a reversal after a possible decline toward the $0.55 support level. CoinCodex’s AI algorithms predict that XRP’s growth is sustainable, forecasting a price of $0.82 by January 1, 2024, and surpassing $1 within the next year, reaching $1.33 by December 30, 2024.
Currently, XRP is trading at $0.63, marking a 1.61% increase. It has also seen a 1.59% rise over the past week and a 5.16% gain compared to the previous month, completing a 71.45% upward movement throughout the year. These figures contribute to a generally optimistic forecast for XRP’s price in 2024.
In the meantime, Ripple is known to have recently posted a job listing for a Senior Manager of Shareholder Communications, typically associated with IPO preparations. This hints at possible positive developments related to Ripple’s anticipated public offering, which could further bolster the positive rumors surrounding XRP’s price trajectory.