XRP, the most active token on the Ripple protocol rose by 8% to reach a four-month high of $0.654197 with an active trading volume of $2,477,113,256. If this trend continues, XRP will hit $1 by the second half of 2024.
The sudden surge in XRP’s price is due to the final settlement of the long-standing conflict between Ripple and the SEC.
Reasons for XRP’s Price Rise
The changing global crypto landscape has also had its ramifications on the price of XRP tokens. There are speculations about the case between Ripple Labs and the SEC and whether XRP can be traded as a security being finally settled with Ripple winning the case.
The final settlement is anticipated to happen in the US Securities and Exchange Commission (SEC) meeting on August 1.
Moreover, the chances of Donald Trump, a pro-crypto senator, winning the 2024 American President election has also ignited hope among the general crypto users, which has had ramifications in the price of XRP.
Speculations about the US election results are generally favorable for the crypto industry as a whole. It is not a surprise that XRP prices also rise in tune with these expectations.
The rumors in circulation about the US SEC giving its consent for the setting up of an Exchange Traded Fund (ETF) based on XRP have also fuelled the price rise of XRP tokens.
XRP’s recent performance is highly promising and it has grown to the standards of performance of Bitcoins. There is enough reason that Ripple Labs can press for the launch of a spot ETF like the Bitcoin ETF, which was launched earlier this year.
What Makes XRP Overtake Bitcoin in the Future?
Many factors such as those mentioned here are instrumental in projecting XRP as a cryptocurrency that can potentially rise above the market giant Bitcoin.
- The total supply of XRP is higher than that of the total supply of Bitcoin at 100 billion. The XRP tokens are already mined.
- XRP transactions are faster than Bitcoin transactions. It takes 4 seconds to settle an XRP transaction against 10 minutes to settle a Bitcoin transaction.
- XRP’s transaction speed is also lower than that of Bitcoin at $0.000001 approximately.
For these reasons and the increasing interest of investors in XRP tokens, it is expected to overtake Bitcoin as the most powerful cryptocurrency in the coming years.
Expected Price Rise of XRP till 2030
The table below shows a detailed description of the price rise in the coming years.
| Year | Yearly Low | Yearly Average | Yearly High |
| 2024 | $0.44 | $1.03 | $1.06 |
| 2025 | $1.05 | $1.19 | $1.26 |
| 2026 | $1.44 | $1.63 | $1.74 |
| 2027 | $1.87 | $2.13 | $2.24 |
| 2028 | $1.87 | $2.13 | $2.24 |
| 2029 | $2.31 | $2.47 | $2.65 |
| 2030 | $3.29 | $3.58 | $3.64 |
The price rise pattern of XRP during the rest of the months of 2024 is such that the rise is consistent and positive throughout the period under consideration. You can view the short-term price prediction of XRP tokens in the table below.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| August 2024 | $0.44 | $0.50 | $1.06 |
| September 2024 | $0.43 | $0.89 | $1.03 |
| October 2024 | $0.43 | $0.70 | $1.04 |
| November 2024 | $0.41 | $1.03 | $1.06 |
| December 2024 | $0.43 | $0.46 | $1.04 |
These data show that the XRP tokens have a bullish market in the coming years. 29 technical analysis indicators are showing bullish signals for the token.
Given the current circumstances, the price of XRP will cross $1 in August 2024.
Should You Invest in XRP Tokens in the Coming Years?
Given the bright future of the XRP tokens, you can safely invest in these tokens in the coming years. The bullish market for the tokens are solid point to help investors decide on investing in XRP.
However, the risks due to the inherent volatility of crypto coins apply to XRP tokens as well.
So every decision should be made after a thorough analysis of the various technical analysis indicators from time to time.
