Ripple’s XRP token has faced significant headwinds over the last few weeks. After a dip in April this year, XRP has struggled to overcome the $0.55 barrier. The popular cryptocurrency is down by 1.3% in the daily charts, 3.7% in the weekly charts, and 0.5% in the 14-day charts. Moreover, XRP’s price has risen by a mere 0.3% over the previous month.

Source: CoinGecko

According to CoinCodex, Ripple’s XRP token could surge to $0.674419 on Sunday, May 19, 2024. Hitting $0.674419 from current levels would translate to a growth of nearly 35%. However, the platform does not anticipate XRP’s price to hold over $0.60 for very long, predicting a correction soon after. XRP’s price, according to CoinCodex, will fall below $0.60 in early June.

Source: CoinCodex

Also Read: Ripple: Here’s When XRP Could Rally 100% And Hit $1

Changelly is also bullish on XRP for the next few days. The platform anticipates the asset to hit $0.681311 on Saturday, May 18, 2024. However, like CoinCodex, Changelly does not anticipate XRP’s price to hold above $0.60. The platform predicts XRP’s price to fall below $0.60 in early June.

Why is Ripple’s XRP not rallying?

Source – StormGain

There are several reasons why XRP is not performing as well as some other assets. Firstly, the crypto market is in a stagnant position right now. Moreover, macroeconomic factors, such as inflation and fading expectations of an interest rate cut, have impacted investor sentiment.

Also Read: Ripple Holds Strong in Launching Channel; Analyst Predicts XRP Target

Additionally, Ripple is locked in a legal battle with the US USEC (Securities and Exchange Commission). It is unlikely for XRP to rally right now until the suit has a verdict. Ripple received a favorable ruling from a US district court last year, leading to an XRP rally. However, the case is now in the high court, and investors are awaiting a ruling.

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