2024 Forecast: Ripple XRP Price Prediction for the New Year

• Ripple's XRP's Robust Price Surge in 2023
• Ripple's Legal Battle and Its Impact on XRP's Price
• Price Forecasts for Ripple's XRP in 2024
• Bullish Predictions for XRP's Future

Ripple's XRP's Robust Price Surge in 2023

In 2023, Ripple's XRP$0.620 -1.68% token recorded an impressive price surge of over 80%. Despite its significant increase, it has not gained as much attention as other cryptocurrencies like Solana$104 5.03% (SOL) and Bitcoin$42,260 -0.64% (BTC), which rose by over 1000% and approximately 160% respectively during the same period.

Ripple's Legal Battle and Its Impact on XRP's Price

Ripple's XRP experienced a considerable price surge to $0.82 after the United States district court ruled in Ripple's favor that the sale of its token to retail clients did not violate securities law. However, the US SEC (Securities and Exchange Commission) escalated the lawsuit to the high court. There is a possibility that the high court might sustain the district court's ruling. But, due to the ongoing legal ambiguity, XRP's price has plateaued. The cryptocurrency has not been able to match its July 2023 price levels and has seen a nearly 24% dip since then.

Price Forecasts for Ripple's XRP in 2024

Changelly predicts that Ripple's XRP could hit a price of $0.73 on December 31, 2023, marking an approximate 17.7% increase from the current levels. However, the platform forecasts a slight drop in the token's price to $0.72 on January 1, 2024. Still, Changelly expects XRP to bounce back in the first week of January, reaching $0.82 on January 7, 2024, a price rise of about 32% from its current levels.

Bullish Predictions for XRP's Future

CoinCodex also foresees a positive future for XRP. The platform predicts that Ripple's XRP could reach $0.81 on December 31, 2024, a surge of about 30% from its present price. However, CoinCodex anticipates that XRP's price may experience a dip in January 2024, with predictions that the token's price could fall below $0.70 by the end of January 2024.

Edited by Jonathan Stoker