- Bitcoin just hit a new record at $109,000.
- Now XRP traders hope the Ripple-linked asset will follow suit.
- However, traders are sceptical about its chances for an all-time high in 2025.
XRP’s price is unlikely to break its $3.40 record — at least not this year.
That’s according to Polymarket punters who give the Ripple-linked cryptocurrency a 44% chance of breaking its 2017 all time high before 2026. In fact, the probability of XRP hitting an all-time high has plunged from 66% earlier in May.
Traders paint a similar picture on options trading platform Deribit, where only 20% of the calls for the rest of the year are for trades that pay out if XRP breaks its record.
The news comes as Bitcoin smashed its January record on Wednesday and surged to $109,000. Usually, XRP and other altcoins also surge when the top cryptocurrency’s price does.
And while XRP has climbed 2.6% over the past 24 hours to trade at $2.40, it is still down 6.3% over the past seven days.
By comparison, Ethereum and Solana are down 0.9% and 2.8% respectively over the same period.
Ripple’s founders developed XRP and the firm uses the cryptocurrency to facilitate cross-border payments.
What’s driving XRP’s price?
It’s unclear what factor has triggered the diminishing optimism.
One factor could be a setback in Ripple’s four-year-long legal battle with the Securities and Exchange Commission.
On May 15, District Judge Analisa Torres rejected Ripple and the SEC’s request to dissolve a court injunction and slash Ripple’s penalty.
The fall in XRP’s chances of breaking a new record in 2025 coincided with the news.
Even so, Ripple’s Chief Legal Officer, Stuart Alderoty, brushed off the setback, calling it a hiccup.
“Nothing in today’s order changes Ripple’s wins,” he wrote on X on May 15. “This is about procedural concerns with the dismissal of Ripple’s cross-appeal.”
In the days leading up to the legal setback, Geoffrey Kendrick, digital assets research chief at UK bank Standard Chartered, predicted that XRP could double its price to $5.50 in 2025. He also said he expects it to reach $8.00 in 2026, while surging above $10 in 2027, and rise to $12.25 in 2029.
Eric Johansson is DL News’ News Editor. Got a tip? Email at eric@dlnews.com.
