- Ripple’s XRP token has breached the $1 mark for the first time since November 2021
- The article predicts that XRP could potentially hit $1.70 over the upcoming weekend
- The recent rally in XRP’s price is attributed to Bitcoin’s surge to a new all-time high and Ripple settling its lawsuit with the SEC
Ripple’s XRP token has breached the $1 mark for the first time since November 2021. In this price prediction article, we will analyze if XRP can continue its bullish run and hit $1.70 over the weekend
XRP’s Recent Price Action
XRP is currently up by 25.6% in the daily charts, 73.2% in the weekly charts, 15.4% in the 14-day charts, and 163.3% over the previous month. XRP’s price has also risen by 13.6% since November 2023.
Possible Reasons for XRP’s Rally
XRP’s latest rally is likely due to Bitcoin (BTC) climbing to a new all-time high of $99,261.30 earlier today. BTC’s rally has likely triggered another bullish outbreak for all assets.
The SEC’s lawsuit against Ripple led to XRP’s price stagnating. The fintech company recently settled its lawsuit with the SEC with a $1.25 million fine. With its legal woes out of the way, the asset may begin an upward movement over the next few weeks.
Donald Trump’s victory in the US Presidential election may also help the asset climb to new highs. Trump’s pro-crypto stance may lead to investors taking bullish positions on XRP.
Weekend Price Targets
According to the analysts at CoinCodex, XRP will hit a price of $1.38 on Sunday, Nov 24, 2024. The platform anticipates the asset climbing to $1.73 on Monday, Nov 25, 2024.
Despite the bullish forecast, CoinCodex analysts anticipate the asset facing a correction by the end of December 2024. The platform anticipates XRP trading at $0.78 on Dec 30, 2024.
Changelly analysts also present a similar outlook for Ripple’s XRP token. The platform anticipates the asset to hit $1.48 on Sunday, Nov 24, 2024.
Conclusion
With Bitcoin leading the rally, XRP looks poised to continue its bullish momentum over the weekend. However, investors should be cautious of a potential correction in December. It remains to be seen how high XRP can climb before facing a pullback.
