Following a court ruling favoring XRP, its price surged but has since declined to $0.51; analysts predict future values ranging from $7 to $500.
- XRP witnessed significant price fluctuations in the past three months, with a notable spike after Judge Analisa Torress’ ruling.
- Despite the recent downtrend to $0.51, some analysts hold optimistic predictions for XRP’s future.
- Forecasts range from a bullish $500 based on the cross-border payments market to a more moderate rise to $7.
- Noted analyst Duo Nine’s evaluation suggests a break from a long-standing pennant formation by 2024, with key resistance levels highlighted.
Over the past three months, XRP has experienced significant price fluctuations. In July, the cryptocurrency nearly doubled in value following Judge Analisa Torress’ ruling in the case between Ripple and the SEC. The court determined that XRP sold on the secondary market is not classified as an investment contract, leading to a surge in market sentiment.
However, since then, XRP has experienced a downward trend and is currently trading at around $0.51. This recent price action has prompted analysts to offer their predictions for the cryptocurrency’s future.
— James jhonson (@Jamesjhonson_1) September 19, 2023
Ripple (XRP) Price Predictions: Bold Statements
In September, renowned cryptocurrency analyst Shannon Thorp made an astonishing prediction, suggesting that XRP’s price could reach $500 in the future. Thorp’s projection is based on the projected growth of the cross-border payments market, which is expected to reach $250 trillion in the next four years.
Another expert, known as EGRAG CRYPTO, believes that XRP has the potential to reach $7. According to this analyst, the next major hurdles for XRP’s price are $0.80 and $1.3.
Latest XRP Price Prediction from Analyst Duo Nine
CryptoPotato sought the insights of well-known technical analyst and educator, Duo Nine, regarding XRP’s future price. Duo Nine pointed out that XRP has been forming a significant pennant formation since 2018, which is likely to break in the next year.
Since 2018, XRP has formed a huge pennant that will likely break in early to mid-2024. The price will need to rise to $1.3 to break out of this pennant formation and attempt a new all-time high (ATH). The key resistance levels are $0.87, $2, and $3.3 (ATH). The current bias is bullish, and as long as XRP remains above $0.45, the bulls will have the upper hand,” said Duo Nine