Ripple’s XRP is struggling to break through the $0.65 resistance level. However, the asset saw a sudden price spike on March 11, 2024, rising from $0.61 to $0.71 within a few hours.
Despite the recent recovery, XRP’s growth rate remains slow compared to other cryptocurrencies. XRP is currently up 10.4% on the weekly chart, 17.2% on the 14-day chart, and nearly 30% from last month. Furthermore, XRP has increased by almost 84% since March 2023.
XRP’s slow recovery may be attributed to the ongoing lawsuit between Ripple and the SEC (Securities and Exchange Commission). Additionally, it may also be the reason why XRP did not reach its all-time high in 2021, while others did. However, this could change soon.
Ripple’s XRP Reaches New All-Time High
According to cryptocurrency analyst Leb Crypto, XRP could reclaim its all-time high of $3.40 in 2018 before or after the Bitcoin (BTC) halving event in April. Reaching $3.40 from the current level would result in a growth of approximately 400%.
However, other analysts do not predict that Ripple’s XRP will reach its all-time high. Changelly predicts that the asset will reach a maximum price of $1.16 in 2024. Reaching $1.16 from the current level would result in a growth of approximately 70.5%. The platform forecasts that XRP will reclaim its all-time high in 2027, reaching a maximum price of $3.53.
Telegaon is more optimistic about XRP, predicting that the asset will reach a maximum price of $2.28 in 2024, a 235% increase from the current level. The platform does not forecast that XRP will reach its all-time high until at least next year.
However, there is a possibility that Ripple will receive a favorable ruling from the higher court, which could lead to increased adoption and price of XRP. In this scenario, we could witness XRP reaching a new all-time high sooner than predicted by Changelly and Telegaon.
