Ripple’s XRP token faces significant headwinds to cross the $0.57 barrier. The asset has rallied 0.5% in the daily and 14-day charts but is down 6.3% in the weekly charts and 6.9% over the previous month. XRP’s price has also dipped 5.6% since August 2023. In this price prediction article, we’ll look at how XRP could perform this weekend.
Factors Influencing XRP’s Weekend Performance
Why the Dull Performance?
XRP’s current lackluster performance follows the general crypto market trend. Bitcoin (BTC) has fallen to $58,000, and the global crypto market cap has dropped 0.6% in 24 hours to $2.16 trillion.
Also Read: Ripple: Here’s When XRP Could Breach The $100 Mark
XRP witnessed a price surge last week after a settlement was reached in the fintech company’s lawsuit with the SEC. The lawsuit had presented significant hurdles to the cryptocurrency’s price over the last few years. The rally did not last very long as prices seem to have consolidated.
XRP Weekend Price Prediction
According to the analysts at Changelly, Ripple’s XRP token could breach the $0.70 level this weekend, hitting $0.741189 on Sunday, Aug. 18, 2024. A rally of about 32.3% would result if it hit $0.741189 from current price levels.
CoinCodex analysts’ price prediction also suggests that XRP will rally over the weekend. The platform anticipates the asset hitting $0.607 on Sunday, Aug. 18, 2024. At current prices, hitting $0.607 will entail a rally of about 8%.
Given the positive outcome of the SEC vs. Ripple lawsuit, XRP may pick up the pace over the next few weeks.
Also Read: Ripple: How High Can XRP Go If Bitcoin Hits $100,000?
There is also much talk about launching an XRP ETF soon, which could vastly help XRP’s price hit new highs.
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