- Multiple crypto analysts predict that XRP’s price could hit $5 by 2024.
- One of the analysts believes the remittance token’s price could climb as high as $50.
- At press time, XRP was trading hands at $0.4686 after a 1.59% price drop.
Over the past few weeks, multiple crypto traders and analysts predicted that Ripple’s (XRP) price could hit $5 by 2024. In one tweet a crypto analyst stated that people should not underestimate the only cryptocurrency that was able to surpass Ethereum (ETH) in market cap.
In response to this tweet, another analyst stated that although XRP may not hit $100 or $50 after its lawsuit with the SEC, he still believes that the remittance token will hit $5, which is still a major feat. Meanwhile, the analyst EGRAG CRYPTO also shared his predictions for XRP’s price in a tweet earlier this month.
XRP / US Dollar 1W (Source: Twitter)
According to the analyst, XRP will remain in the accumulation zone until it breaks through the lower yellow region. He added that “Conviction will be necessary for XRP to enter the white area. Until then, a drag is possible until Q1 2024.”
Nevertheless, EGRAG CRYPTO believed there was still potential for XRP to experience a significant surge. Potentially, XRP could then reach $2.8 to $4.6.
This particular movement would represent the first wave on a larger scale, and there is a chance that it could correct downwards to $1 before embarking on a formidable and challenging journey to initiate the third wave. This third wave could see XRP price rise as high as $50 according to the analyst.
XRP Price (Source: CoinMarketCap)
At press time CoinMarketCap indicated that XRP was trading hands at $0.4686 after a 1.59% price drop over the past 24 hours. As a result, the remittance token was trading just a tad closer to its daily high of $0.4775 than its 24-hour low of $0.4565.
XRP’s price descent throughout the past day pushed its weekly performance even further into the red zone to -8.07%. With its market cap of $24,486,695,231, XRP was ranked as the 6th biggest crypto. This placed it right behind USD Coin (USDC) in the 5th position.
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