XRP Price Prediction: Will the XRP touch $10 by the end of 2024?

• The XRP bull run helped it to overtake Solana and Tether to become the third-largest cryptocurrency by market cap.
• XRP price witnessed gains of over 414% over the past month, to reach $2.61 at the time of writing according to CoinMarketCap.
• Experts view that while a double-digit price of $10 or more is plausible by late 2025, it needs to ensure its momentum.

XRP price has become the talk of the crypto universe after the 3rd ranked token achieved a remarkable milestone by surpassing the $2.5 mark, a first since November 2018. Ripple’s resolution of its legal battle with the U.S. Securities and Exchange Commission (SEC) has given the XRP the much-needed impetus, growing investor confidence.

The XRP bull run helped it to overtake Solana and Tether to become the third-largest cryptocurrency by market capitalization on 3 December and now is valued at $150 billion. Seeing this stark rally, experts now predict it could touch $10 by the end of 2024. Experts back this up based on price action witnessed by Tesla following their run-in with the U.S. SEC.

XRP Price Analysis indicate stronger gains for the token

XRP price witnessed gains of over 414% over the past month, to reach $2.61 at the time of writing according to CoinMarketCap. The jump is on the back of a 90% weekly gain in the crypto and is poised to gain further in the coming weeks.

Not just that, the whale’s movement too is an aggressive side, already posting its highest recorded trading volume in various exchanges. Currently, whale movement in Upbit is at its peak, boasting a $3.8 billion trading volume, surpassing even Bitcoin’s. XRP’s price action could cause major market motion, with $195 Million in short positions at risk.

If top altcoin sustains its upward trajectory, it could soon break through the $3 mark. Analysts suggest the cryptocurrency may edge closer to its ATH of $3.84 if bullish momentum persists.  A look at the charts would reveal that price action is driving the prices upwards for XRP.

Image Credit: Trading View

The RSI of the token boasts of a strong 84.25 indicating that there are buyers are willing to accumulate more tokens at the moment to ensure profit booking. The MACD indicator too is siding with the XRP token, with the MACD histogram nosing ahead of the trend line.

XRP Price Prediction: 2024 and Beyond

The short-term outlook for XRP predicts a consolidation phase for the token with the toke reaching $2.5-$3.5 in the coming months, especially if profit-taking occurs. From a long-term perspective, the XRP could achieve a double-digit price gain.

However, many experts view that a double-digit price of $10 or more is plausible by late 2025 if there is increased adoption, favourable market conditions, and Ripple’s expanding its ecosystem.

The coming few weeks and January 2025 will be a good indicator of where and how the trajectory is going to move. Amidst all these investors should proceed with caution, conducting their due diligence before making decisions in this volatile market.