Prominent cryptocurrency researcher Dark Defender believes that March will see a positive trajectory for Ripple’s XRP token. In particular, Dark Defender predicts a possible spike that could go as high as $0.92 in conjunction with a pending court date related to the ongoing Securities and Exchange Commission action. In particular, he says that the timeframe from March 10 to March 13 is ideal for big gains.
According to Dark Defender, XRP may rise to a price of $0.77–$0.92, with the noteworthy court date falling within that range as a major contributing reason. While Ripple has had a somewhat dull start to 2024, there is general optimism in the company’s ability to pick up steam in the next months. Consequently, the stage may be set for XRP to reclaim the $1 mark for the first time since February 2018.
What’s in Store for Ripple?
The Securities and Exchange Commission (SEC) has until March 13th to provide a briefing on the remedies it is requesting from Ripple in connection with its continuing legal action against the blockchain startup. After years of uncertainty, the case is almost at its end, and volatility around the result seems certain. For the first time, sentiment appears to be bullish on Ripple due to positive developments in both the technical and legal domains; this is why over 30% gains are predicted to break through major hurdles.
These developments have, for the most part, happened as expected. Bitcoin is getting closer to its all-time high and has crossed $61,000. In addition, Ethereum has clearly surpassed $3,400 and is now aiming for the $4,000 level. Still, a lot of investors had great expectations for Ripple. When could the asset surpass $1 given the market’s recent rally?
XRP is currently trading at $0.59, up 5% over the last day. During the same time frame, its market capitalization increased by about 5% as well, suggesting a persistent upturn in demand. Changelly projects that Ripple (XRP) will hit $1 by the beginning of 2025. The asset is expected to trade at a minimum of $1.08 and a maximum of $1.33 for that whole year. However, the platform does not anticipate that XRP would rise above $0.90 in 2024.
Although there is a lot of legal ambiguity, that prediction could change, but it seems like the most likely course of action. With better price signals and the SEC drama nearing its conclusion, confidence in bulls maintaining power through March and beyond is growing.