February 2024 Ripple (XRP) Price Forecast Insights

• Ruling on Ripple's XRP Status Leads to Market Fluctuation
• XRP's Market Performance
• XRP Price Prediction for February
• XRP's High and Subsequent Decline

Ruling on Ripple's XRP Status Leads to Market Fluctuation

A recent ruling by a U.S. judge has concluded that Ripple's XRP$0.620 -1.68% should not be classified as a security. Despite this significant decision, the lawsuit continues with no definite end in sight. This pivotal verdict caused a substantial increase in XRP's market price. However, this price surge proved temporary.

XRP's Market Performance

Comparatively, XRP's price performance has not matched that of other alternative cryptocurrencies (altcoins). Currently, XRP is trading at $0.5103, showing no significant value increase over the past 24 hours. Over the previous week, XRP has depreciated by 10% and, over the past 30 days, it has experienced a decrease of 18.4%.

XRP Price Prediction for February

Our upcoming price prediction for Ripple's XRP for the month of February has been compiled. Cryptocurrency specialists at Changelly have provided their forecast for XRP's price in February. According to their estimates, XRP is predicted to reach a low of $0.544 and a peak of $0.674, with the average price expected around $0.609.

XRP's High and Subsequent Decline

The price of XRP reached a high of $0.8875 following the U.S. judge's declaration that XRP is not a security. This verdict provided a boost to Ripple's price, resulting in several exchanges relisting XRP. However, the price has since decreased. Compared to Ripple's performance, the entire cryptocurrency market appears to be trading in the red.

Edited by Jonathan Stoker