Ripple’s XRP is taking a beating in the market right now. The asset is down by over 11% in the last month. XRP’s price has fallen by 86% from its all-time high of $3.40, which it attained in January 2018. XRP did not make much noise during the 2012 bull run either when other assets were hitting new peaks. The possibility exists that Ripple’s lawsuit against the Securities and Exchange Commission, which started in December 2020, is the reason for the token’s lack of upward progress. The corporation is accused by the financial authority of taking part in the sale of unregistered securities.
Also Read: Ripple: $1000 of XRP in 2016 is Worth This Much in 2024
If XRP reclaims its all-time high of $3.40, you will need about 294,117.64 tokens to have one million dollars worth. The price of 294,117.64 XRP tokens right now is about $135,294.11.
When will Ripple’s XRP reclaim its all-time high of $3.40?
Reaching $3.40 from current levels will require a growth of about 623%. According to Telegaon, XRP could reclaim its all-time high sometime in 2027. The platform predicts the asset to hit a maximum price of $3.97 for the year.
Also Read: Ripple (XRP): Analyst Says 2025 Coud Bring Monumental Rally
Changelly also presents a similar forecast for XRP. The platform anticipates XRP to reclaim its all-time high in 2028, hitting a maximum price of $3.57 for the year.
Also Read: Ripple vs SEC Lawsuit: Will SEC Free Ripple XRP After Ethereum
One of the most significant barriers to XRP is Ripple’s lawsuit with the SEC. The asset will not reclaim its 2018 peak until the lawsuit reaches a conclusion. Last year a US district court ruled partially in favor of Ripple. The court stated that selling XRP to retail clients did not breach securities laws. XRP’s price briefly rose after the verdict was announced. The lawsuit is currently pending a verdict in the high court.
Credit: Source link
