The Ripple-backed XRP token has the potential to weather the current growth slump, with long-term forecasts setting targets as high as $500. The positive outcome of the legal standoff between Ripple and the US Securities and Exchange Commission (SEC) and overall market dynamics will be paramount in determining whether XRP is able to achieve this lofty goal.
XRP is expected to cross $500
Changelly analysts published a report on Tuesday highlighting XRP’s historical price movement and its growth potential in the coming years.
Analysts provided a technical overview of XRP price, noting that bearish signals outweigh bullish signals; Bearish sentiment accounts for about 69%, while bullish sentiment accounts for 31%.
Despite this observation, analysts expect a corresponding rise for XRP in the coming decades. “We may see XRP go to the moon again in the future.” He mentioned the exchange. It expects the average price of XRP to reach $563.32 by 2050. The forecast trading range also includes a maximum value of $634.05 and a minimum of $533.85. Reaching these levels would be a remarkable achievement for XRP, which has been stuck in the doldrums for years.
Can XRP break the $1 barrier next year?
Analysts shared detailed XRP price forecasts from 2024 to 2025 in the report, suggesting that the sixth-largest digital asset could reach an average value of $0.603 in February 2024, with minimum and maximum trading values expected at $0.537 and $0.669. dollar. respectively.
Pundits believe that XRP could reach an average price of $0.637 by March 2024, with a price range between $0.732 and $0.542. They then expect the asset to face a slight pullback around April and May, to change hands at an average value of $0.549 and $0.556, respectively.
Moreover, the exchange said that the price of XRP could fluctuate between $0.549 and $0.583 by September before eventually finding a place at around $0.566. Market experts expect the token to gradually rise from a price of $0.638 in October to reach $0.817 by December.
XRP is expected to reclaim the elusive $1 price level in 2025, the highest level not seen since 2021, with an average price of $1.12. Analysts expect the cross-border payments currency to break through its peak of $3.40 to trade at an average price of $7.30 by 2030.
XRP has risen more than 4.7% in the past day, and is now trading at just over $0.5867, according to data from CoinGecko. This comes as Bitcoin (BTC), the world's largest and oldest cryptocurrency, surpassed $60,000 for the first time since November 2021.
