As the broader forecast for XRP suggests a potential retest of the $2 price level, many are curious about the timeline for this anticipated bullish rally.
XRP, closely tied to Ripple Labs Inc., experienced a diverse year of ups and downs. A notable highlight occurred when Judge Analisa Torres clarified that XRP is not an investment contract, affirming the coin’s standing. Despite facing various challenges, XRP demonstrated its potential to surge beyond $2 in the long term.
Currently trading at $0.619, a 1.74% decrease in the last 24 hours, XRP holds the sixth position in market capitalization, boasting a market cap of $33,622,431,375 and a trading volume of $1,056,519,189.
Predicting a potential timeline for XRP to reach $2, analysts often look ahead to 2024. Artificial intelligence-based algorithms, including ChatGPT, provide intriguing perspectives on XRP’s inherent potentials.
However, not all predictions align. Crypto trading platform Changelly suggests that the journey to $2 may not happen soon. Despite XRP recording 18 green days out of the 30 in the current month, Changelly anticipates that the coin might not retest the $2 price mark until 2026. For that year, Changelly projects a high price of $2.43 and a low price of $2.01.
This stands in contrast to ChatGPT’s projection, which considers a $5 price mark as a conservative estimate for XRP by 2024.
Despite a Year-to-Date growth of 83.43%, XRP fell short of the 2022 annual record when it dropped by 59.2%. While this growth is considered modest compared to top rivals like Solana, there is a prevailing sentiment that XRP is gearing up for a significant price run in the coming year. Factors such as institutional adoption and the evolution of the XRP Ledger (XRPL) are expected to act as catalysts, propelling XRP into the spotlight.
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