XRP's Potential 250% Rally: When Ripple May Reach $2

• Ripple's XRP Steep Correction
• Gradual Decline
• When will Ripple's XRP reach $2?
• More Bullish Outlook
• Bullish Analysts on XRP in 2024
• High Probability of a Bull Run in 2024

Ripple's XRP Steep Correction

Ripple's XRP$0.620 -1.68% token has experienced a significant correction of 9% in daily charts. Additionally, the token has dropped by almost 6% since last month. 2023 was a prosperous year for XRP, which saw a rally of nearly 80%. This growth could be attributed to a favorable ruling in the lawsuit between Ripple and the SEC (Securities and Exchange Commission). A US district court judged that selling XRP to retail clients didn't constitute a breach of securities laws. Following the announcement of the verdict, the price of the asset soared to over $0.82.

Gradual Decline

Despite the initial surge in price, the popular cryptocurrency has seen a gradual decline. This could be due to the SEC vs. Ripple lawsuit progressing to the high court. However, investors and users are hopeful that the asset will recover in 2024 if Ripple receives a favorable verdict from the high court.

When will Ripple's XRP reach $2?

Changelly predicts that XRP could achieve a maximum price of $1.10 in 2024. Furthermore, the platform doesn't foresee the token exceeding the $2 mark before 2026. In 2026, Changelly anticipates a maximum price of $2.21 for XRP, almost two years from now.

More Bullish Outlook

Telegaon offers a more optimistic forecast for Ripple's XRP token. The platform predicts that XRP could reach a maximum price of $2.28 within the year. However, Telegaon doesn't specify the potential timing for this milestone.

Bullish Analysts on XRP in 2024

Other analysts, apart from Telegaon, are also bullish about XRP in 2024. Crypto analyst Cryptoinsightuk, for instance, anticipates that the price of XRP could increase by 100% against Bitcoin$42,260 -0.64% (BTC).

High Probability of a Bull Run in 2024

There is a high chance that the crypto market will experience a bull run in 2024. This could be driven by a spot BTC ETF (Exchange Traded Fund) and BTC's halving event in April. A bull market could propel Ripple's XRP to new highs much earlier than expected.

Edited by Jonathan Stoker