Judging by the broader forecast surrounding XRP, the digital currency is poised to retest the $2 price level, but when is the timeline for this proposed bullish rally?
XRP, as a token closely affiliated with blockchain payments company Ripple Labs Inc., had an eclectic year that was filled with both upturns and downturns. While the highlight of the year for XRP came when Judge Analisa Torres declared that the coin is not an investment contract, other events that proved XRP has what it takes to soar above $2 in the long term were showcased.
At the time of writing, XR is trading for $0.619, down by 1.74% in the past 24 hours. The coin remains the sixth most capitalized cryptocurrency, with a market cap of $33,622,431,375 and a trading volume of $1,056,519,189.
XRP to $2, Potential Timeline
Many analysts have their thesis about XRP price starting from 2024. Interestingly, artificial intelligence (AI) based algorithms like ChatGPT also maintain XRP price prediction that offers an intriguing perspective on the inherent potentials of XRP.
However, the race to $2 from the current price level may not come soon taking into account the predictions from crypto trading platform Changelly. Besides highlighting that XRP recorded 18 green days out of the 30 in this month thus far, Changelly posited that the coin may not retest the $2 price mark until 2026. For that year, Changelly projected that XRP might likely trade at a high price of $2.43 and a low price of $2.01.
This contrasts directly with a ChatGPT projection that considers a $5 price mark a conservative one for XRP by 2024.
XRP’s Time to Shine
After recording an 83.43% growth in the Year-to-Date (YTD) period, XRP broke the 2022 annual record when the coin dropped by 59.2%. Notwithstanding, this growth is considered a poor performance when compared to the more than 1,000% growth printed by top rivals like Solana.
This outlook has heightened the sentiment that XRP is building up momentum to go on a major price run in the coming year, with institutional adoption and XRP Ledger (XRPL) evolution poised to catalyze the coin to shine.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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