In the last 24 hours, the XRP price has shown signs of a bullish rebound. This positive trend is supported by increased buying activity and social media engagement, indicating strong investor confidence in XRP despite a recent setback at the $2.9 mark earlier this month.
A crypto analyst known as Cryptoinsightuk has forecasted a potential price increase for XRP, predicting that it could reach $5 within the next couple of weeks.
XRP Aiming for $5 in January, with a Potential $10 Soon After
On the platform X, Cryptoinsightuk expressed his belief that XRP might attain a price of $5 by the end of 2024, with expectations for it to hit $10 shortly afterward, between January and March 2025. With December now into its second half, this analysis suggests a significant upward price movement for XRP could occur in the coming weeks.
Currently, XRP is priced at approximately $2.5, which means it would need to double in value, a 100% increase, for this forecast to materialize. While this may seem significant, it’s relatively minor compared to its previous two months’ performance. Notably, in November, the XRP price soared over 285%, finishing the month at $1.93. However, to achieve the $5 mark from its current standing, there would need to be a considerable influx of investment, making the projected growth rate noteworthy.
If XRP reaches the $5 level, it would surpass its historical peak of $3.4. However, Cryptoinsightuk is optimistic, suggesting that the price may even enter double digits in the first few months of next year, marking a pivotal achievement for the cryptocurrency.
Community Poll Reflects Strong Optimism for XRP
This outlook from Cryptoinsightuk follows a recent poll conducted, where he inquired about followers’ price expectations for XRP on Christmas day. The survey included four price brackets: under $2, between $2 and $3.30, between $3.30 and $5, and over $5. The results showed a competitive race towards the higher brackets, exhibiting the community’s optimistic sentiment towards XRP.
A mere 8.3% of the respondents anticipated the price to dip below $2. In contrast, a large portion viewed the future positively; 35.9% predicted XRP would trade between $2 and $3.30, while 30.2% speculated it would fall between $3.30 and $5. Impressively, 25.6% believed XRP could exceed $5, signifying robust confidence in a significant price surge.
Although the $2 to $3.30 range received the most votes, the overall data reflects that the majority of crypto enthusiasts are foreseeing substantial upward trends for XRP soon.
As of now, XRP’s trading price is $2.42, reflecting an increase of 4.4% in the last 24 hours and a 14.5% rise over the past week.
