Crypto trading platform Changelly has published a new research report for 2024, highlighting XRP’s potential trajectory into the $1 threshold.
The report first examined the historical context and reflected on the remarkable surge of the XRP in late 2017 and early 2018. During this period, XRP briefly claimed the position of the second most valuable cryptocurrency, trailing only Bitcoin.
According to CoinMarketCap data, XRP’s valuation stood at over $89.12 billion, while Ethereum was lower at $73.17 billion. XRP had attained an all-time high of around $3.84 in January 2018.
However, XRP’s 2018 ascent was followed by a protracted and substantial decline in value and market valuation. According to the report, XRP’s price crash surpassed the average downturn observed across the broader cryptocurrency market.
Meanwhile, Changelly stated that the crypto market’s resurgence in early 2021 facilitated XRP’s recovery and stabilization.
While XRP has yet to surpass its previous high of $3.8, the report conveyed optimism about future possibilities. It suggested that XRP could experience astronomic growth similar to the one witnessed six years ago.
XRP Price Forcast
XRP has a prevailing market value of $0.5772, down by over 10.31% in the last seven days. However, Changelly has argued that XRP could experience more than 20% growth this week.
In particular, it forecasted a value of $0.695678 by January 5 and 6, 2024. Furthermore, the research projected a more bullish gain for XRP in the $0.77 zone this month.
Notably, Changelly’s analysis incorporates key technical indicators alongside the fear and greed index gauging the sentiment toward XRP. The report suggested a bullish sentiment of 27% against a 73% bearish outlook.
Overall, the trading platform proposed that XRP is anticipated to exhibit a minimum price of $0.906 and a maximum value of $1.10 this year.
Also, the platform contends that in 2025, XRP will strengthen its position in the above $1 range. It expects $1.28 on the lower end and $1.56 on the upper end.