- The price of XRP has quintupled in the last one month.
- XRP is now crypto’s third-biggest asset.
- Analysts predict a new XRP peak price next year.
Ripple’s XRP is on the cusp of breaking its 2018 all-time high.
That’s according to crypto watchers who say that the digital asset’s price won’t stop surging after it became the third most valuable cryptocurrency behind Bitcoin and Ether.
It now has a total market value of $144 billion.
Arthur Azizov, CEO of crypto payment provider B2BInPay, told DL News that the digital asset issued by Ripple will break the $3.4 price record before the end of the year.
“It will potentially trade between $5 and $7 in the first half of 2025,” he said.
Other analysts have come to a similar conclusion after noticing several key factors driving the rally.
Those include Donald Trump’s election win, and the looming departure of Securities and Exchange Commission Chair Gary Gensler.
Both are believed to be signs of inbound crypto-friendly regulations; investors increasingly tapping into altcoins; and the prospect of an XRP exchange-traded fund.
‘Explosive’
XRP has struggled to break the $1 barrier for the past three years due to the overall crypto winter and its drawn-out legal battle with the SEC. The regulator sued Ripple Labs and part of its leadership in 2020 and claimed that the company ran an unregistered securities offering. The case is still ongoing.
But the 900 days may have set the stage for a massive rally, Azizov told DL News.
“Such prolonged accumulation periods often serve as the foundation for explosive rallies,” he said.
Veteran trader Peter Brandt also predicted a significant price rally for XRP in 2025.
Brandt updated his previous XRP analysis to show the asset has broken out of its “massive coil” during its recent price spike.
A coil describes an asset that trades sideways in a narrow range of a significant time.
Raoul Pal, CEO of market research firm Global Macro Investor, called XRP’s price chart “good-looking” in a Monday post on X.
The former Goldman Sachs executive said XRP is in the “banana zone” — a term he coined to describe when an asset is primed for a massive price surge.
Concerns
To be sure, concerns persist.
Sceptics say the surge does not resemble a normal market price rally and bears the hallmarks of a pump and dump.
They point to the fact that XRP’s market size is at its peak value despite the current price still trailing its seven-year all-time high.
It is critically important to the XRP price that XRP holders never develop an accurate understanding of the concept of market cap
— laurence (@functi0nZer0) December 2, 2024
That’s because XRP’s supply has inflated over the years amid multiple token unlocks by Ripple.
Still, XRP proponents say several fundamental market factors are driving its price.
“There’s a lot of talk about major companies looking to launch XRP ETFs, with big players like WisdomTree filing just yesterday,” Azizov said. " If the SEC regulations ease, we could see these ETFs roll out by 2025, which could also open the door for an IPO.”
Osato Avan-Nomayo is our Nigeria-based DeFi correspondent. He covers DeFi and tech. To share tips or information about stories, please contact him at osato@dlnews.com.
