Ripple’s XRP token has faced a few rough years. The asset failed to gain momentum over the last few cycles. XRP’s price fell below $1 in November 2021 and did not recover until very recently. The asset reclaimed the $1 level earlier this month after Bitcoin (BTC) hit a new all-time high.
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Why Did XRP Suffer?
The primary reason for XRP’s lackluster performance was the SEC vs. Ripple lawsuit. The financial watchdog alleged that the fintech company sold unregistered securities. The suit held the asset back during the 2021 bull run. While other mainstream cryptocurrencies hit all-time highs, XRP did not move much.
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Ripple recently settled the suit with a $125 million fine. With the lawsuit settled, XRP may finally make an upward momentum.
When Will The Asset Hit $3.75?
Hitting $3.75 will mean a new all-time high for XRP. The asset hit a peak of $3.40 in January 2018, nearly seven years ago.
According to Changelly, Ripple’s XRP could hit the $3.75 mark sometime in August 2029, more than five years from now.
Telegaon analysts are a lot more bullish on XRP than Telegaon. The platform predicts the asset will trade at a maximum price of $3.87 in 2025. Despite the bullish outlook, Telegaon does not clarify the month when XRP could hit the $3.87 price point.
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XRP is one of the most popular currencies for cross-border transactions. The network could become an alternative to the SWIFT system. In such a scenario, XRP’s price could go much higher than $3.75. Ripple has also partnered with several global organizations for crypto integration. Such initiatives will further help the asset’s price to rally.
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