TL;DR
Ripple’s native token – XRP – has performed quite well throughout the ongoing year, with its price jumping almost 80% since January 1. Its impressive rally could be attributed to the company’s partial legal victories against the United States Securities and Exchange Commission (SEC) and the overall revival of the entire cryptocurrency sector.
The asset seems to have lost steam lately, consolidating around the $0.60 level (per CoinGecko’s data). However, numerous analysts believe XRP still has some gas left in the tank for a final push before the end of 2023.
The X (Twitter) user Cryptoinsightuk touched upon the XRP/BTC trading pair, envisioning a jaw-dropping 1,500% spike for Ripple’s asset should it break an important resistance level, described as a “Gray box.”
Dark Defender also shared a bullish forecast, suggesting XRP could surpass $0.85 before New Year’s Eve if it manages to stay above the $0.56 and $0.52 support marks.
“$1+ targets are in play; you won’t be surprised to see it before the new year,” the analyst argued.
Those wondering how XRP might perform in the short term could take a look at our dedicated video below:
Last but not least, we will focus on the prediction shared by Patrick Riley – founder of Reaper Financial. The expert forecasted a downfall for Ethereum in 2024, describing it as a “dying horse that’s been limping along for a long time.”
He believes that such a potential event could trigger the rise of other coins, including XRP. What’s more, he expects Ripple’s coin to skyrocket to around $22 during the next bull run and even surpass Bitcoin (BTC) as the number one cryptocurrency.
