Throughout recent weeks, there has been a constant correction on the market for digital assets. This changed in the first week of may, when a number of assets reversed their trend and were poised for an increase. Ripple, (XRP), is also among these assets, and its recent surge of 6% has reignited hope that $1.4 will be reached in 2024.
According to the latest data, there has been a nearly 7% rise in prices over the past seven days. CoinMarketCap. XRP’s price has risen to $0.55, a significant increase in volume, and investors are now feeling more optimistic.
You may also like: Ripple: Here’s When XRP Can Reclaim its All-Time High of $3.40
Ripple’s (XRP), which is currently trading at $1, could be set to soar past that in 2024
Ripple was one of the most anticipated digital currencies at the beginning the year. The legal dispute between Ripple (XRP) and the US Securities and Exchange Commission was nearing an end. Market participants had expected the asset to rise in value due to the strength of its international payments and popularity.
This has not been the case in the first five months of the year. XRP, in fact, had struggled to keep up with the market. It was hovering around $0.5 and causing some concerns from the community.
Still, the market is showing signs of improvement. In the meantime, the recent Ripple (XRP), 7% increase over the past week has fueled hope that the asset will surpass $1.4 in 2024.
You may also like: Here’s How to Be a Millionaire When Ripple (XRP) Hits $1
Crypto analyst EGRAG Crypto took to X (formerly Twitter) He gave his opinion on the future of this asset. He then explained how XRP will arrive at its destination in four phases. The model predicts that the first 300 days will see the price reach $0.53 or $0.58.
After that, the XRP price would range between $0.63 to $0.70. “a sentiment shift.” Third level: “signal the start of a bull run” Ripple is currently moving between $0.75 to $0.85. Finally, the Ripple price is between $0.75 and $0.85. “psychosocial battlefield” According to the analyst, the analyst believes that the assets will start to show signs of forming.
This asset could reach $1 but is going to have a lot of challenges. Market concerns and greed may derail the asset’s price. Standing firm, however, would suggest an ascent to $1.4 and possibly above.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: watcher.guru