Ripple (XRP) has experienced a marginally smaller decline than the rest of the market. The altcoin dropped 1.80% in the previous day and was trading at $0.5587 at the time of publication.
However, it should be mentioned that the price surged by 48% following the resolution of the protracted dispute between Ripple and the US Securities and Exchange Commission (SEC). Between Aug. 6 and 7, there was a considerable increase. Despite this, the asset failed to hit the $1 mark.
Market Outlook and Analyst’s Prediction
Analyst’s Bold Prediction
More recently, an analyst’s most recent forecast again gave the market hope. According to cryptocurrency expert Amonyx, XRP may be selling at a low right now, but it is loading what he calls “massive green God candles.”
Projected Growth
In a recent X post, he pointed out that XRP could be forming 56 days, or eight weeks, of enormous green candles. He projects an incredible 11,745% increase in the altcoin’s value throughout this time, reaching a price level of $57.
Realistic Expectations
The $57 mark is undoubtedly unrealistic. Currently, the price of XRP is 85% below its peak of $3.84. Even if it appears far off from where it is now, the altcoin may be able to do this by getting to $1.
Also Read: Ripple XRP Weekend Price Prediction: Mid-August 2024
When Can XRP Reach $1?
According to data from Changelly, XRP will fail to reach the $1 mark this year. However, 2025 will likely be a favorable year for the asset. Changelly predicts that XRP will surge to a high of $1.18 in the coming year.
The dainty rise after Ripple’s recent victory makes most investors bearish. An XRP community member noted that after an almost four-year court struggle that threatened to end XRP and Ripple, they have finally emerged victorious.
Still, the price of XRP hasn’t changed much, as though nothing noteworthy had occurred. He commented:
Also Read: Myth or Reality: Can Ripple (XRP) Really Hit $30?
“Unfortunately, if XRP is $0.58 despite winning the court case, there is no reason for it to rise from now on.”
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