With Ripple (XRP) hovering at a critical price juncture of $0.60, the said development has sparked notable speculation in the crypto realm.
The market is buzzing with new Ripple price forecasts, as certain events have also been fueling and actively indicating the inevitable Ripple price hike.
One analyst has provided a brief backdrop for how XRP may soon touch the $1 price mark. Let’s explore when XRP will make a bullish move.
Also Read: XRP Not Meant For Retail, Says Ripple’s Ex-Global Head Dilip Rao
Analyst Predicts XRP’s $1 Price Path
Dark Defender, a notable crypto analyst, has issued an optimistic price prediction for Ripple. The analyst shared how XRP has crossed the critical price mark of $0.66 by breaching one of the strongest Fibonacci levels. This is barely a start, as XRP may note a significant price hike in the coming months.
The analyst later shared that the XRP may continue to forge new directions as the token may diversify its path to reclaim $1.
“We have completed our first goal of $0.3917 to $0.66, one of the strongest Fibonacci levels that #XRP has ever had. So, congrats to those who made it. We have just started the next move, and nothing has changed! XRP is preparing to equalize this level shortly by touching the $1 level first. It is more evident that XRP’s move was highly bullish.”
In another bullish development, the number of wallets holding a minimum of 10K XRP has skyrocketed. According to Santiment, wallets holding a minimum of 10K XRP have noticed a hike in the past five weeks. This indicates growing investor interest in XRP, which can help the token stabilize in the long run.
“The number of wallets holding at least 10K XRP has skyrocketed in the past 5 weeks. 279.4K such shark and whale addresses exist on the ledger, returning to a 6-month high. The correlation between these wallets and XRP’s market value has been undeniable throughout 2024. .”
The XRP ledger also explores the $27 trillion TBill market, which may help XRP gain institutional interest and volume.
When Will XRP Hit $1?: A Technical Perspective
According to CoinCodex, XRP may surge by 20% by the end of August to secure a $0.70 price mark.
According to our current XRP price prediction, the price of XRP is predicted to rise by 20.69% and reach $0.706152 by September 1, 2024. Per our technical indicators, the current sentiment is neutral, while the Fear & Greed Index shows 57 (greed). XRP recorded 19/30 (63%) green days with 13.78% price volatility over the last 30 days.
At this pace, the token may reach the $1 price mark by the end of the year 2024.
“XRP is forecast to trade between $0.370018 and $1.10206. If it reaches the upper price target, XRP could increase by 91.70% and reach $1.10206.”
Changelly, another crypto platform predicts XRP to hit the $1 mark by the year 2026.
“Based on the technical analysis by cryptocurrency experts regarding the prices of XRP, in 2026, XRP is expected to have the following minimum and maximum prices: about $1.28 and $1.49, respectively. The average expected trading cost is $1.31.”
It remains to be seen how the Ripple XRP’s price will evolve, and we’re here for the ride!