Ripple’s XRP token is currently the best-performing cryptocurrency in the daily charts, among the top 100 projects by market cap. While other crypto assets, such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), etc., are glowing red in the 24-hour charts, XRP is in the green zone.
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XRP is up by 15.9% in the daily charts, 46.6% in the weekly charts, 57.9% in the 14-day charts, and 49.4% over the previous month. The asset has reclaimed the $0.80 level for the first time since July 2023.
Why Is XRP Rallying While Other Major Assets Are Red?
Investors may be booking profits after the market’s recent surge. Bitcoin (BTC) climbed to a new all-time high of $93,477.11 on Nov. 13, 2024. Some investors may have liquidated their holdings from other assets and reallocated their funds into XRP.
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Ripple’s XRP is one of the most popular currencies for cross-border remittances. The fintech company also settled its lawsuit with the SEC with a $125 million fine. With no legal woes in its path, XRP may be gearing up for a climb.
Will The Asset Hit $1 Soon?
Ripple’s XRP token last traded above the $1 mark in November 2021, three years ago. The asset is also down by 76.1% from its all-time high of $3.40, which it attained in January 2018, nearly seven years ago. XRP has had a rough few years, failing to gain significant traction. Things may soon change for the asset.
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According to CoinCodex analysts, XRP will continue its ascent over the next few days. The platform anticipates the asset to breach the $1 next week. CoinCodex analysts predict XRP to trade at $1.06 on Nov. 18, 2024. The platform does not anticipate XRP’s price to hold above $1, predicting a correction to $0.84 by Dec. 10, 2024.
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