The price of XRP will test all-time highs in 2024. We forecast that the price of XRP will move towards 3 USD in 2024. Whether XRP will set new all-time highs will depend on Bitcoin, acting as the crypto market’s leading indicator.
Talking about crypto market’s leading indicator, we explained in great detail in our Bitcoin forecast 2024 that Bitcoin will continue its upward trajectory in 2024. We are convinced it will do so in the first part of 2024. Moreover, when it comes to broad market momentum, which crypto also needs in order for altcoins like XRP to perform well, we see markets improving as explained in our 2024 forecasts.
In recent months, we wrote extensively about our bullish XRP outlook. Buying the dip did pay off, so far, and we expect that it will continue to pay off, going forward.
We mentioned that our longstanding XRP target will be hit, sooner or later. Based on extensive analysis, we wrote XRP forecast 10 USD now confirmed, after the Ripple/SEC lawsuit did not end in favor of the SEC to really threaten Ripple nor XRP. The probability of XRP to qualify as a security is very low.
We also referred to the XRP chart with a very simple rule of thumb to know when XRP exactly will be bullish, sort of the ‘bull market trendline’, as explained in the most important XRP chart trendline for 2024.
Moreover, we addressed a question we often receive from readers, asking: “when will XRP finally break out?” The truth is this:
The right question to ask is not WHEN exactly XRP will break out. That’s because all 3 charts, featuring a completely different view and different chart patterns, confirm the bullish nature but also explosive characteristic of XRP. It is a fact that XRP as a cryptocurrency tends to stage accelerated moves in a very short period of time.
With that said, we look specifically at a realistic XRP price target for 2024 by covering the following topics:
- XRP long term value creation
- Summary of our XRP price forecast 2024
- XRP price forecast 2024: secular chart
- XRP price forecast 2024: long term chart analysis
- XRP price forecast 2024: medium term chart
- XRPBTC insights
- XRP price forecast 2024 invalidation
- XRP price forecast 2024 conclusion
Assuming Bitcoin and the Nasdaq, both leading indicators for leading cryptocurrencies like XRP, will resolve higher, we continue with our XRP forecast 2024 based on multiple XRP charts.
XRP long term value creation
When it comes to XRP and the value its network is creating, we see tremendous progress. Although this is not meant to be an exhaustive, we find the following progress:
Ripple Payments Reaches New Heights
- Ripple has received money transmitter licenses across numerous U.S. jurisdictions allowing Ripple Payments to offer its products and services within those jurisdictions.
- With single onboarding, customers are now able to access nearly 100% of global payout coverage to more than 70 payout markets through Ripple’s international payments network.
- A new integration with the XRP Ledger’s native decentralized exchange will buttress global liquidity options for Ripple customers, streamlining customer onboarding into new markets and improving product performance.
- Through newly expanded liquidity options, Ripple Payments can fulfill customers’ liquidity needs on demand, 24/7/365.
Ripple Fully Licensed to Provide Digital Payment Token Services in Singapore
Earlier this year, Ripple received in-principle approval of its Major Payments Institution (MPI) license application from the Monetary Authority of Singapore (MAS). Four months on, Ripple is thrilled to announce that its Singapore subsidiary, Ripple Markets APAC Pte Ltd, has secured its full MPI license to provide digital payment token services in Singapore.
Ripple Combines Forces with Fortress Trust to Power Web3 Infrastructure
“We’re extremely pleased that Fortress Trust will be acquired by Ripple, one of the largest and most innovative companies in the industry — it’s a testament to the team and business that we’ve built in a short period of time. Furthermore, we look forward to continuing to collaborate and deepening our partnership with our Web3 payments solution,” said Scott Purcell, CEO of Fortress Blockchain Technologies.
The list of progress goes on and on.
This is what comes to mind, when we think of XRP and value creation.
Roy Amara, an American scientist, futurist and President of the Institute of the Future, famously coined the following adage, that was to become Amara’s Law: “We tend to overestimate the effect of a technology in the short run and underestimate the effect in the long run.”
Summary of our XRP price forecast 2024
The short version of our XRP price forecast 2024 is very simple:
The price of XRP will test all-time highs in 2024. We forecast that the price of XRP will move towards 3 USD in 2024, it might even exceed 3 USD.
In essence, our XRP forecast 2023 was very similar to 2024. In the end, what happened is that our first bullish target of 3 USD seem to be postponed to 2024, nothing more nothing less.
The chart of XRP is gorgeous, an absolute beauty. It’s not about WHEN exactly XRP will go to 3 USD. It’s about “do you have the patience to wait” because the charts, on all timeframes, point to 3 USD as a first longstanding bullish target, followed by 9-10 USD very long term.
XRP forecast 2024: secular chart
The longest term XRP chart is insanely powerful.
Below is the version without our annotations. Anyone with a ‘trained eye’ can see (a) that this is a bullish reversal (b) how powerful this pattern is.
If we overlay our annotations, to the same chart, we see this long term channel. While we do not believe that the top of the channel will be tested again, we can imagine that the mid-point of the median might be the ultimate top of this nascent bull market.
XRP forecast 2024: long term chart analysis
The long term chart, on 5 years, features the W-reversal. This is a bullish setup, without any doubt, with a first target pointing at 3 USD. Hence our XRP 2024 price forecast of 3 USD.
Short term, it is clear that this chart needs the 2-year falling trendline (dotted line) to be taken out. in order to break out in a big way. The resultant move should bring XRP to 0.91 followed by 1.61.
Readers should pay attention to the rising trendline (thick, red) that originated early on in 2021, right after the dump triggered by our good friends at the SEC ‘who care about crypto investors’ (not at all, they care about their own prestige and dominance).
XRP forecast 2024: medium term chart
If we zoom in, and focus on the right part of the W-reversal (as seen on the above chart) we can see how XRP currently trades right at the mid-point of the 5-year reversal. The fine purple line is the 50% retracement level, by far the most important level of each and every reversal (consolidation). It does make sense that it takes time to clear this level, it’s common and normal.
Our XRP price forecast 2024 is based on the premise that the rising trendline (thick), 50% retracement level (horizontal) and falling trendline (dotted) are about to ‘collide’. XRP might struggle for a little longer to work through the ‘confluence’ of these 3 critical patterns. Once this ‘confluence’ resolves, which will be early on in 2024, XRP will be ready for the big move and ride to 3 USD.
XRPBTC insights
We also check the price of a token expressed in BTC terms.
The XRPBTC chart offers two interesting insights:
- The red thick rising trendline was tested multiple times, in recent years, it did hold. It is being tested again, we expect it to hold.
- Price is now decisively above the 50% retracement level, fine purple line. The pattern, above this key retracement level, shows a series of bullish reversals. As long as this holds, the outlook for XRP is great.
The XRPBTC chart suggests there is an attractive entry opportunity around current levels, arguably a last one.
XRP prediction invalidation
As with any prediction, we need invalidation criteria in order to understand when our prediction will not come true or will be delayed. Below are our XRP prediction invalidation criteria:
- XRP moves below its 3-year rising trendline, and stays there for more than 13 to 21 consecutive days. The level to watch is 0.44 USD.
- BTC drops below 25k USD, and stays there for more than 13 to 21 consecutive days.
- The Nasdaq and broad markets break down.
The probability of any of these 3 invalidation criteria to occur is lower than 10% in our humble view, at the time of writing.
XRP forecast 2024 conclusion
Our XRP forecast 2024 is bullish.
We expect 3 USD to be hit in 2024. Our forecast 2023 did not change, at all, it simply seems that the market needs a little more time to get to our 3 USD target.
BTC needs to continue to move higher as well as the Nasdaq, throughout 2024.
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