Ripple’s XRP token has rallied 1.5% in the daily charts, following Bitcoin’s reclaiming the $58,000 level. Despite the slight rebound, XRP continues to trade in the red in the other time frames. The asset is down by 8.6% in the weekly charts, 7.2% in the 14-day charts, and 11.4% over the previous month. Ethereum (ETH) has also struggled to gain momentum, rallying by only 0.8% in the daily charts.
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Given the probability that an ETH ETF will soon be released, the market might see a general upswing similar to what happened earlier this year following the introduction of the Bitcoin ETFs. Launching an Ethereum ETF might push altcoins to new all-time highs.
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If ETH reaches $10,000 from current price levels, it would translate to a growth of about 222.3%. If Ripple’s XRP token also undergoes a 222.3% growth following ETH’s ETF launch, it would reach a price of about $1.41.
Can Ripple’s XRP reach $1.41 this year?
The ongoing legal dispute between Ripple and the SEC is one of the main obstacles to the price of XRP. In December 2020, the SEC brought a complaint against Ripple alleging that the company sold securities that were not registered. The lawsuit has substantially affected XRP’s price action. Even during the 2021 bull run, XRP struggled to hit an all-time high, while other assets reached their respective peaks.
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According to the data on Telegaon, XRP will hit the $1.4 level sometime this year. The platform predicts XRP to hit a maximum price of $2.28 in 2024.
Changelly presents a slightly more bearish forecast for XRP, predicting the asset to hit $1.66 in 2026, about two years from now.
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