XRP Price Can Hit $1 If This Happens

Following a recent uptick, XRP is slowly climbing from its recent lows, reaching as high as $0.58 in the past 24 hours and gaining nearly 9% in the past week. This resurgence has started discussions about the possibility of XRP returning to the $1 mark, a level it last traded at in late November 2021. 

We have compiled three factors that can push XRP to $1 in the upcoming Bull Cycle. 

Possible, If?

First, the state of the Bitcoin market as a whole is important. The world crypto market cap has grown by $400 billion in the past month. Both Bitcoin and altcoins have benefited from this rise. XRP could benefit from the market’s continued upward trend, especially since experts expect a similar rally in 2017. As the crypto market prepares for its usual four-year cycles, XRP’s price could stay steady and even hit $1.

Secondly, regulatory developments remain a crucial factor. Ripple, the company behind XRP, is still stuck in a legal battle with the U.S. Securities and Exchange Commission (SEC), which has impacted XRP’s performance in the past. The result of this lawsuit could significantly influence XRP’s price trajectory. While Ripple’s legal team anticipates a resolution in 2024, a favorable outcome, such as a settlement, could help XRP back above $1.

Thirdly, developments and partnerships within the Ripple ecosystem also play a role. Ripple’s strategic partnerships, like crypto custodian Metaco and the recent acquisition of Standard Custody, show the company’s commitment to expanding its payment options. These developments can undoubtedly lead to increased adoption of the XRP Ledger and raise awareness and demand for XRP, potentially pushing its journey to $1.

Also Read: Will Bitcoin (BTC) Price Crash 20% in Coming Weeks ? Here’s What Crypto Expert Michael van de Poppe Predicts

XRP’s $1 Price Hangs in the Balance 

While XRP’s recent resurgence is promising, its path back to $1 will be influenced by market conditions, regulatory clarity, and Ripple’s strategic initiatives. Even if XRP wins the lawsuit, legal challenges drain resources and create uncertainty, limiting institutional adoption needed for growth. XRP’s $1 milestone may depend more on market sentiment than fundamentals.

 However, on a bullish note, XRP could once again reach the $1 threshold if the above factors align favorably.