Ripple-backed token XRP has the potential to surmount its present growth stagnancy, with longer-term forecasts setting up sky-high targets as high as $500. A favourable outcome of the legal standoff between Ripple and the U.S. Securities and Exchange Commission (SEC) and general market dynamics will be paramount in determining whether XRP can achieve this lofty target.
XRP Projected To Surpass $500
Changelly’s Analysts published a report on Tuesday highlighting XRP’s historical price action and its growth potential in the coming years.
The analysts offered a technical overview of the XRP price, noting that bearish signs exceed bullish ones; bearish indicators constitute roughly 69%, while bullish sentiment accounts for 31%.
Despite this observation, the analysts envision a parabolic XRP rally in the coming decades. “We may very well see XRP go to the moon again in the future,” the exchange stated. It expects XRP to be priced at an average of $563.32 by 2050. The predicted trading range also comprises a maximum value of $634.05 and a minimum of $533.85. Hitting these levels would mark a remarkable feat for XRP, which has been stuck in the doldrums for years.
Can XRP Break the $1 Barrier Next Year?
The analysts shared a detailed projection of the price XRP from 2024 to 2025 in the report, suggesting that the sixth-largest digital asset could rocket to an average value of $0.603 in February 2024, with expected minimum and maximum trading values of $0.537 and $0.669, respectively.
The pundits believe XRP could attain an average price of $0.637 by March 2024, with a price range of between $0.732 and $0.542. They then foresee the asset encountering a slight pullback around April and May, to change hands at an average value of $0.549 and $0.556, respectively.
Furthermore, the exchange said the XRP price could oscillate between $0.549 and $0.583 by September before eventually finding a footing at around $0.566. The market pundits expect the token to gradually climb from a price of $0.638 in October to hit $0.817 by December.
XRP is projected to reclaim the elusive $1 price level in 2025, a high not seen since 2021, with an average price of $1.12. The analysts anticipate the cross-border payments coin to break through its lifetime peak of $3.40 to trade for an average price of $7.30 by 2030.
XRP is up over 4.7% in the past day, now trading hands for just over $0.5867, according to data from CoinGecko. This comes as Bitcoin (BTC), the world’s largest and oldest crypto, zoomed past $60,000 for the first time since November 2021.