Megha Agrawal
In the ever-volatile world of cryptocurrency, Ripple’s XRP has recently been a topic of substantial speculation. With contrasting yet intriguing predictions, analysts EGRAG CRYPTO and Dark Defender have shared their outlooks for XRP’s future in 2024.
EGRAG CRYPTO’s Bold Prediction
EGRAG CRYPTO, a prominent figure in the crypto community, is optimistic about XRP’s potential for a remarkable surge. He references XRP’s impressive 20X rally in 2021, despite facing a legal battle with the US Securities and Exchange Commission (SEC). With several partial court victories secured by Ripple in the past year, EGRAG CRYPTO believes that XRP is better positioned than ever to experience substantial growth.
EGRAG CRYPTO envisions the possibility of XRP matching the performance of Ethereum (ETH) or Bitcoin (BTC) during their respective bull runs, potentially reaching a price point of $16 or even $5.88. But he doesn’t stop there; he goes on to predict an astonishing 96X increase from the cycle bottom, potentially soaring to a staggering $27. He highlights the crypto’s legal and regulatory clarity as a significant factor behind this bullish sentiment.
XRP Transaction Surge Signals Growing Interest
One on-chain metric seems to align with EGRAG CRYPTO’s optimism. The number of executed XRP transactions recently surpassed 6 million in just three days, suggesting a growing adoption and increased interest in the asset. This could attract more investors and contribute to a potential price appreciation.
Dark Defender’s More Conservative Approach
While EGRAG CRYPTO’s predictions are undoubtedly bold, Dark Defender offers a more grounded perspective. Dark Defender sees XRP reaching the $1 mark as a short-term target. He believes that XRP will not “defer the break” and anticipates a prosperous 2024 for the cryptocurrency.
In a previous forecast, Dark Defender suggested that XRP could climb to $1.88 before potentially achieving an all-time high of $5.85. He expects this second target to be realized by Q2 2024.
XRP’s Current Status
As of now, the price of XRP stands at approximately $0.63, representing a minor change over the past 24 hours. The cryptocurrency market capitalization for XRP is around $34 billion, with a circulating supply of 54 billion tokens. XRP’s price history has seen it trade in a narrow range between $1.40 and $1.60 in 2023, characterized by low volatility and volume. This period has been marked by mixed market sentiment, largely influenced by ongoing legal battles and potential institutional adoption.
The Latest Ripple Developments
In recent news, XRP witnessed a 10% surge, reaching a five-month high of $0.5. This increase was driven by speculation that Ripple’s legal dispute with the SEC could end favorably for the cryptocurrency. Additionally, there is mention of the CFTC’s lawsuit against Binance, a major crypto exchange, which could have implications for XRP’s classification as a commodity or security. A Ripple spokesperson, however, has contested the validity of this report and compared XRP to other leading cryptocurrencies like Bitcoin and Ethereum.
Ripple’s XRP remains a cryptocurrency of great interest and debate in the crypto world. While EGRAG CRYPTO envisions a potentially explosive future, Dark Defender takes a more conservative stance. The surge in XRP transactions signals growing interest, but the cryptocurrency’s path in 2024 remains uncertain, influenced by legal battles and market dynamics. Investors and enthusiasts eagerly await how these contrasting predictions will play out in the coming year.