The last few weeks have not been great for the crypto market, and Ripple has struggled as much as anyone. The last 30 days have seen XRP fall more than 10% according to CoinMarketCap. Yet, a turnaround could be in the works, as Ripple’s performance in the coming year could lead to a $5 XRP token.
The market is stuck in a bearish sentiment, with assets across the board struggling. That development has led to the amount of XRP on cryptocurrency exchanges reaching a 2024 low of 2.84 million. Subsequently, some experts are rumoring that the asset could take another dive to the $0.42 level if things don’t change soon.
Also Read: Ripple: XRP Weekend Price Forecast: How Close The Token Is To $1?
Is XRP Planning a Massive Comeback in 2025 Bull Cycle?
According to Santiment data, Ripple investors have realized losses surpassed $30 million over the last 10 days. The rather disappointing data reinforces the concern that many investors have regarding the tokens performance.
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Cryptocurrency analyst Cheeky Crypto recently posted a video talking about the potential XRP has. Looking at the XRP/USDT chart on Binance’s daily timeframe, the asset is trading at a parallel channel to the downside. Moreover, it is currently below both the 50 EMA and 50 SMA that indicates a bearish trend affecting it.
Also Read: Ripple: Here’s How to be a Millionaire When XRP Hits $3.40
However, the video discusses candlestick patterns overlapping. This usually indicates price volatility in the short-term. So, while the immediate future looks to be underwhelming, there is a positive long-term outlook.
The Elliot Wave theory suggests that XRP could face even more price drops. There are those who predict a fall completely below $0.40. However, Ripple is also looking to be oversold, which presents an interesting collection of positive facets. Specifically, it displays the potential for Ripple (XRP) to reach far beyond the $5 mark in 2025.
A massive part of that forecast is the ongoing SEC lawsuit that should come to an end before the year is done. Ripple CEO Brad Garlinghouse suggested that the legal battle could be settled by September. Additionally, experts have speculated that the agency is just as interested in reaching a settlement as the crypto company is. The end of that conflict could only increase the momentum it holds next year.
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