Is This 2024 Ripple (XRP) Price Prediction Realistic? Analyst Chips In
TL;DR
- Dark Defender anticipates XRP might hit $6 by 2024, especially if it surpasses $1.30.
- Other analysts suggest values ranging from $27 to an optimistic $500, though the latter seems improbable considering the needed market cap.
- For context, the entire crypto market was valued at $3 trillion in 2021.
XRP to Explode 1,000%?
The recent cryptocurrency market revival and XRP price surge have prompted analysts to double down on their bullish forecasts on the asset. One such person is the popular X (Twitter) user Dark Defender, who envisioned that Ripple’s native token could skyrocket to over $6 before the end of 2024.
Hi all. #XRP‘s current price ranges between $0.66 & $0.52. It won’t be a surprise to see $0.66 shortly.
Supports: $0.52, $0.46
Resstncs: $0.66, $1.88, $5.85But the real surprise will be when things go
Parabolic.#FreeDAI @X @digitalassetbuy pic.twitter.com/9qAXFkmdhd
— Dark Defender (@DefendDark) October 25, 2023
They assumed that the prediction might become a reality if XRP manages to overcome several support and resistance levels. The chart indicates that things could go “parabolic” if the coin lands at $1.30. From that moment on, it could reach the $6 mark in a matter of a few months, Dark Defender argued.
The analyst further touched upon the ongoing volatility that reigns in the cryptocurrency market, suggesting XRP might hit $0.66 in the short term.
Some of the Outrageous XRP Forecasts
Numerous other analysts have laid out predictions on XRP in the past several weeks, with some expecting the asset to experience astronomical price increases.
The X user EGRAG CRYPTO opined that Ripple’s second court victory against the SEC could act as a catalyst and push the coin to as high as $27 in the future.
Crypto trader Oaksacorn were even more bullish. They observed certain charts and compared the current market with the 2015-2017 cycle to conclude that XRP could explode to $43.
The wildest bet came from cryptocurrency analyst Shannon Thorp, who believes that the asset has a chance to blast to the ridiculous mark of $500 in the next four years.
It is worth mentioning that this forecast would most likely remain a mirage, considering the fact that XRP’s market cap should rise to the absurd $250 trillion for that to happen. Recall that the entire market cap of the industry was around $3 trillion in 2021 when Bitcoin (BTC) reached an all-time high of almost $70,000.
Those willing to check XRP’s possible price trajectory in the remaining months of 2023 could take a look at our dedicated video below:
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