Since December 2021, Ripple Labs XRP has traded below the $1 price level, after suffering a 60-percent drop during the years.
However, starting in 2023, the bearish trend came to an end, and at one time, XRP was up by over 170 percent year-to-date.
Currently the prices are around the 77-80 percent year-to-date range, and the trend looks poised to continue into the new year.
Background on Why XRP struggled
One of the reasons that we saw XRP struggling since December was as a result of a lawsuit that was filed by the U.S. Securities and Exchange Commission on December 21, 2020.
The lawsuit alleged that XRP was a security offering.
This meant that, at the time XRP was selling in the market, the SEC considered it as an illegal and unregistered security.
Fast forward to July 13, 2023, the courts ruled that XRP sold on exchanges was not a security, bringing a conclusion to years of controversy.
Then, the SEC dropped securities law violation charges against Ripple CEO Brad Garlinghouse and executive Chris Larsen.
The end of lawsuits will have a huge impact on XRP, whose potential has been held back by the SEC’s classification of it as an illegal security, thereby causing exchanges such as Coinbase to drop it from their platform.
XRP Price Prediction for 2024 and 2025
As we have seen above, one of the major factors that was holding XRP back is now solved, and in 2024, we expect the project to perform almost as well as it has done this year.
In the first half of 2024, we project the prices to trade above $1 for the first time in more than two years.
As the above XRP daily chart shows, 2023 has been an upward trend for the crypto, which is currently trading in an ascending channel.
The chart also shows the impact of the SEC’s ruling, which resulted in a spike in the prices of the crypto, setting a yearly price high of $0.93.
Today, the impact of the ruling is still evident, as can be seen in the chart above, which remains in a bullish trend.
Going into 2024, we expect this trend to continue, with prices rising and breaking the $1 psychological price level.
By the end of 2024, there is a likelihood that XRP will be trading around $3, and in the best-case scenario, it might even rise above $3, as investors who had kept away from the coin due to lawsuits invest in it.
For 2025, we still expect the bullish trend to continue based on the continued bullish trend of the cryptocurrency industry, especially Bitcoin, which mostly acts as a leading indicator and is positively correlated with XRP.
Our conservative speculation is that XRP will be trading around $4 by the end of 2025.
2026 to 2030 Price Prediction
Between 2026 and 2030, XRP will be trading between $4 and $15. Now it’s important to note that another ‘crypto winter’ event could occur around 2026 to 2027.
We’d expect price fluctuation around that time and to be closer to $4 before breaking out and setting a new base around $8-9.
By 2030, it could be trading at $15, which is mostly dependent on the fundamentals of the overall cryptocurrency markets.
For instance, if the crypto markets will be in a downward spiral, then XRP, which mostly moves in tandem with most cryptocurrencies, will also be in a bearish trend.
The impact of this is the price of XRP trading conservatively between $4 to $8 in 2030.
However, in the best-case scenario, where the crypto markets are bullish, we expect XRP to trade between $8 and $15 by the time we get into 2030.
The best-case scenario analysis is dependent on XRP staying out of regulatory dragnets that might drag it as the SEC case did, between 2020 and 2023.
Disclaimer: this is not financial advice. Please consult with a licensed financial advisor prior to making any investments.
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