Ripple’s XRP token experienced a correction in recent days, decreasing by 3.5% in the weekly charts and 5.7% over the past month. However, the asset has shown strength in the daily charts, rallying by 3.2% in the last 24 hours. Notably, XRP has surged by over 83% since January, placing it among the top-performing cryptocurrencies in 2023.
According to crypto analyst EGRAG CRYPTO, XRP’s upward trajectory may continue. The analyst outlines two scenarios for the fifth-largest crypto by market cap. In the first scenario, named the Blue Route, XRP is predicted to exceed the $1.20 level by the end of 2023, reflecting a growth of approximately 90% from current levels.
EGRAG CRYPTO suggests that after reaching $1.20, the token might experience a correction but could subsequently rally to a new all-time high of $5.50 by the close of 2024. Achieving $5.50 would represent a remarkable growth of about 780% from current levels.
Is There Likely to be an Upcoming Bearish for XRP
EGRAG CRYPTO also presents a pessimistic perspective for XRP, labeled the Green Route. As per this outlook, XRP might decline to approximately $0.50 by Christmas 2023, marking a decrease of around 20% from current levels. However, should XRP’s price indeed drop to $0.50 by Christmas, there is a potential surge to $22.50 by July 2024, reflecting a remarkable growth of about 3497% from the current price.
In both scenarios, XRP faces the possibility of substantial price movements. However, the unresolved legal battle between Ripple and the US SEC (Securities and Exchange Commission) introduces uncertainty. A favorable court ruling for Ripple could propel the token’s price upward, while an unfavorable decision may lead to a significant downturn in its value.
