Ripple’s XRP token has faced substantial headwinds over the last few years. Ripple’s lawsuit with the US SEC has been a significant barrier to the asset’s price. Even when other cryptocurrencies were hitting all-time highs during the 2021 bull run, XRP failed to hit a new peak. XRP hit an all-time high of $3.40 in January 2018 and is currently down by over 81% from its 2018 peak.
According to the analyst at Changelly, XRP will not breach the $3 mark until 2028. The platform predicts the asset to hit a maximum price of $3.57 for the year. Reaching $3.57 from current price levels will entail a rally of nearly 458%.
Also Read: Ripple: How To Be a Millionaire When XRP Hits $1.5
Telegaon is more bullish on Ripple’s XRP than Changelly, predicting the asset to breach the $3 mark in 2026. The platform predicts XRP to hit an average price of $3.53 in 2026 and a maximum price of $5.18. Reaching $5.18 from current prices will translate to a rise of about 709%.
Ripple lawsuit news boosts XRP price
XRP is currently witnessing a trend reversal, outshining other assets in the charts. The sixth-largest cryptocurrency by market cap has rallied 8.2% in the last 24 hours, 7.6% in the weekly charts, 6.5% in the 14-day charts, and more than 35% over the previous month.
Also Read: Ripple (XRP) and Cardano (ADA): Price Predictions August 2024
The latest rally is likely due to traders expecting a settlement in the SEC vs. Ripple lawsuit. A filing form Tuesday suggested that the SEC is amending its complaint against Binance and that the judge won’t have to decide on whether certain cryptocurrencies are securities or not just yet. Although the filing did not name any asset, traders anticipate the SEC vs. Ripple lawsuit to come to a conclusion soon.
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