Hope Rises for XRP Upsurge Amid Crypto Market Growth

XRP logo and coin

In the past week, XRP’s value increased by 19.9% versus the US dollar, reaching a high of $0.744 per coin on March 11, 2024. Its price has subsequently fallen somewhat, currently trading at $0.685 per XRP. Although the digital currency’s market results have not received the same level of attention as Bitcoin and Ethereum, supporters of XRP, the sixth-largest cryptocurrency by market value, believe it is primed for an upsurge.

XRP Enthusiasts Bet on a Bright Future

The crypto industry has recently grown significantly, with the total value of all cryptocurrencies now estimated to be over $2.7 trillion. Bitcoin (BTC) and several other digital currencies have reached or are approaching prior highs. In comparison, XRP’s performance has been somewhat modest. For example, although BTC has risen 172% in the previous six months and ETH has soared by 146%, XRP has only increased by 42% versus the US dollar during the same time period.

According to seven-day figures, XRP has gained by 19.9% and 17.9% in the last two weeks, respectively. Despite the lacklustre market results, XRP aficionados and members of the ‘XRP Army’ think the digital currency is poised for a significant increase. One advocate recently stated that XRP’s price movements are “eerily similar to 2017 before it,” while another predicted that XRP will “leave all crypto in the dust.” “You can’t stop the inevitable XRP,” the X account known as Black Swan Capitalist commented.

XRP Among Top 10 Crypto Assets

XRP has continuously placed among the top 10 crypto assets for several years, but the continuing dispute between Ripple Labs and the United States Securities and Exchange Commission (SEC) has loomed big over the cryptocurrency. Additionally, Ripple Labs co-founder Chris Larsen’s personal XRP accounts were hijacked, resulting in the freezing of assets owing to unlawful access. This breach event drew a lot of attention in the cryptocurrency community, and it might have hampered XRP’s recent surge.

According to Primexbt, XRP is undervalued, and some “pundits” believe it “could be worth as high as a maximum price of $4.” According to predictions on the Changelly blog, XRP might reach $0.846 per unit by March 30, 2024. Changelly predicts that XRP will end the year with a minimum price of $0.983, an average value of $1.01, and a maximum price of $1.16 per coin. Furthermore, the estimated lowest price for 2025 is $1.39 per XRP, with a maximum expected price of $1.69. The blog’s estimates, which span until 2027, continue to fall short of XRP’s record high.

Proponents of XRP vividly recall the 2017 bull run as the digital currency approached its all-time high. XRP achieved $3.40 per coin on January 7, 2018, roughly six years ago. Unlike BTC and ETH, which achieved new highs during the 2021 bull run, XRP did not go above its prior high. Today, it still has to grow by 75% to match its 2018 highs, and during this bull run, it confronts a slew of new crypto challengers in the top 10.

Author: Simeon

Simeon is a seasoned crypto writer with a passion for exploring the fascinating world of blockchain and digital currencies. With a background in finance and technology, Simeon brings a unique perspective to his writing, delving into the complexities of decentralized finance, cryptocurrency trading, and emerging blockchain projects.