Ripple(XRP) had a noteworthy 3.23% climb on Monday, effectively erasing a 2.68% loss that had been seen on Sunday. XRP significantly returned to the $0.66 level for the first time since December 11, 2023, as the session ended at $0.6480. Notwithstanding this encouraging development, difficulties persisted due to the lingering ambiguity surrounding the SEC v. Ripple case.
In only one day, XRP experienced a significant surge in trading volume totaling $3.9 billion, which helped the price of the coin hit a monthly high of $0.64. These changes in XRP’s price trajectory have encouraged investors and raised the prospect of an upcoming XRP bull run. With Ripple’s XRP now moving north, could the most popular cryptocurrency surpass $1?
Ripple (XRP) Eyes $1.7 Mark
After XRP’s legal fights with the U.S. Securities and Exchange Commission (SEC), supporters and industry players have embraced the company. Opinions are largely divided because the asset has not yet approached or retested its prior all-time highs. Still, The Finder’s cryptocurrency experts believe Ripple’s XRP has more to grow and might eventually cross $1. According to Finders, XRP might increase and yield a return on investment (ROI) of almost 170% from its present value of $0.64 to a peak of $1.73 at some point in 2024.
As of the time of publication, Ripple’s 24-hour day trade has seen an almost 0.5% increase, trading at $0.64. But since its peak of $3.40, which it hit in January 2018, XRP has dropped by about 82%.
Therefore, assuming Finders’ price projection proves to be right, a $10,000 investment made today may potentially yield $27,000. When presenting their analysis of the price prediction, finders focused heavily on Ripple’s payment mechanism. Several banks worldwide are receiving payment solutions via the Ripple network, making transactions easier.
Some market watchers are gloomy, while others are confident that XRP is still in a position for a long-term rally. Significant remarks made by the Ripple CEO in an earlier interview reinforced the optimistic assessment.
Highlighting XRP’s importance as a token that enables international transactions in the larger multi-trillion dollar payment sector, Garlinghouse is cited as saying,
“There are investors who are interested in speculating on where XRP is going to go, and to an extent, we are successfully solving a multi-trillion-dollar problem using XRP and integrating XRP into those flows. It’s going to drive a lot of demand for XRP.”