Forecasting XRP's Potential to Reach All-Time High in 2024

• Ripple's XRP Token Experiences Significant Surge
• Anticipated Bull Run and XRP's Potential Performance
• Factors that could Bolster Ripple's XRP Token
• XRP's Popularity and the Role of Legal Verdicts
• XRP's Future Performance

Ripple's XRP Token Experiences Significant Surge

Since the onset of the year, Ripple's XRP$0.620 -1.68% token has achieved nearly 80% expansion. A favorable ruling by a US district court concerning the SEC vs. Ripple litigation could be the catalyst behind XRP's remarkable surge. It's worth noting that XRP is among the handful of initiatives that didn't reach a new peak during the 2021 bullish market. A significant proportion of analysts believe the SEC lawsuit presence undermined XRP's rally potential.

Anticipated Bull Run and XRP's Potential Performance

Despite this, speculations are rife that XRP might attain a record high in 2024. A large number of market analysts are predicting a bullish run for cryptocurrencies in 2024, driven by the potential approval of a spot Bitcoin$42,260 -0.64% (BTC) Exchange Traded Fund (ETF) and the anticipated BTC halving in April 2024.

Factors that could Bolster Ripple's XRP Token

Although Ripple won the district court case, its legal battle with the SEC has escalated to the US high court. There's a chance that the high court might make a similar ruling to the district court, affirming that the sale of XRP to retail clients didn't infringe securities laws. In this case, XRP could see a sudden boost in adoption, leading to a price surge.

Additionally, Ripple recently entered a partnership with Mastercard, significantly boosting the fintech firm's reputation. The company has also formed alliances with other major players such as Japan's SBI Holdings. The increased collaborations are expected to positively influence XRP's price.

XRP's Popularity and the Role of Legal Verdicts

XRP token enjoys immense popularity in cross-border remittance. Analysts project a steady increase in this metric over the next few years. If Ripple wins the high court case, an upsurge in user numbers is highly probable.

XRP's Future Performance

It's also noteworthy that Ripple's XRP is currently trading at more than 80% below its all-time high of $3.40, achieved in January 2018. Therefore, it's plausible that XRP might close this gap in the next bull run, outperforming its 2021 performance.

Edited by Jonathan Stoker