XRP is the native token of Ripple Labs launched in 2011 for facilitating transactions on the network. It is one of the most demanded crypto where its market capitalization is around $29,403,294,057. XRP price is an important event for its users and the expectations are high for it to reach the highest value. So will the XRP price get to $1, let’s find that out in this blog.
XRP Price Analysis
XRP price has fluctuated around $0.5 for more than a year with some peaks here and there. It’s been almost 6 years since the all-time high value of $3.84 and more than 3 years since it went above the $1 mark. On 16 April 2021, it reached the 1.7593 value where the trading volume was $20.59 Billion.
It has become a rare opportunity for many investors to see the full potential of XRP coins and they are waiting for it to happen. Just a few days ago, XRP tried to break down the cycle and go above the average $0.5 mark but it didn’t get to go through all the way. At the time of writing, it is trading at $0.5419 and is in the dip of 0.63% from yesterday. Compared to 1 week’s data, the prices have decreased even more as it has dipped by 2.96%.
It’s not that XRP is not performing well, the prices are low but the trading volume says something else. It is at $898,612,695 with an increment of more than 30%.
XRP being in the top ten cryptocurrencies list on Coinmarketcap, it is understandable that it’s worth the hype and expectation of users for it to get to a better value. It has previously reached closer to $1 multiple times so it’s nothing unimaginable for it to do it again. According to many analysts and industry experts, XRP will come out of its personal crypto winter by 2030.
Will XRP Reach $1?
XRP potential’s to reach $1 is full of volatility issues and changing trends. Its recent hope of seeing a hike was the anonymous whale dump that happened on Binance. Around 20 Million XRP worth $10.7 Million was extracted from the Binance account, leading to increased hype among the community. Instead, an opposite reaction on the price was noticed where it dumped by 2%.
Because of the previous incidents where the price went above the $1 mark, the expectations of the same are normal. Based on the statistic and analytics XRP might reach $1 by the end of 2024.
For a crypto’s best price, market trends, coin liquidity, and volatility play a crucial role. If all the situations were satisfied the XRP will cross the last time all-time high of $3.
Conclusion
XRP price is fluctuating around $0.5 after dropping from its all-time high event of $3.84. In the past few years, the prices for XRP were mostly bullish and saw a few over-average events. Analysts have predicted that XRP price will reach $1 this year if the market trends and volatility play the right tricks.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/trending/xrp-price-will-xrp-hit-1/
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