With 2023 almost over and 2024 creeping closer, XRP (XRP) is looking green on all its charts, trading around the important price level at $0.63 and leaving cryptocurrency traders and investors to wonder at which price range(s) it could end up in the year to come.
As it happens, the XRP token is showing signs of recovery despite its price still standing below its yearly high at $0.82 and the (by comparison) lower December high at $0.69, according to the most recent chart information retrieved by Finbold on December 27.
$0.70 – $1 in the game
That said, XRP could still be looking at a significant recovery at the start of 2024, as per the analysis shared by pseudonymous cryptocurrency expert CoinsKid in an X post on December 25, in which he noted that taking out the $0.6998 level “could spell danger to the XRP perma bears.”
Furthermore, the positive resolution of the long-running legal battle between Ripple and the United States Securities and Exchange Commission (SEC) could further push the price of XRP upwards, perhaps even over the $1 price mark, as reported on December 25.
On top of that, the analysis of numerous charts by another pseudonymous crypto market analyst, EGRAG CRYPTO, supports a confident projection of $1.30 – $1.50 on the horizon, reinforcing firm dollar targets, as per the analyst’s X post shared by Finbold on December 18.
Or a decline to $0.55
However, XRP could also take an opposite turn following a rejection at the mid-line of the ascending parallel channel from the past six months, undergoing a pullback and potentially retracing towards the lower boundary around $0.55, in the view of the renowned crypto expert Ali Martinez.
Meanwhile, the artificial intelligence (AI) algorithms used at the crypto analytics and monitoring platform CoinCodex suggest that XRP could continue its growth in the future, setting its price at $0.82 for January 1, 2024, while seeing it surpass the $1 mark and move further toward $1.33 by December 30, 2024.
Earlier, in October, Finbold gathered the opinions of several finance and crypto experts regarding XRP’s price outlook for 2024, and their potential targets ranged from the low price mark of $0.5 through the mid-lever $1.00 to the more optimistic $2.00 by the start of 2024.
XRP price analysis
Meanwhile, XRP was at press time trading at the price of $0.63, recording a 0.84% increase on its daily chart, in addition to advancing 1.59% across the previous week and accumulating a gain of 5.16% in the last month, adding up to the 71.45% upward movement over the past year.
Overall, XRP could, indeed, increase its price in 2024 in line with the predictions, particularly as there are positive developments surrounding it, such as a significant amount of speculation of a Ripple IPO, following the blockchain company’s recent job posting for the position of a Shareholder Communications Senior Manager with tasks typically associated with IPO preparations.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
