Ripple’s XRP token struggles to break through the $0.52 threshold. The daily chart shows that the asset has increased by 0.9% and the chart for the next 14 days is 1.3%. The asset, however, is down 1.6% on the weekly chart. It has also fallen by almost 3% in comparison to the prior month.
Also Read: Can XRP ETF Hype Push Ripple’s Price To Breach $0.75 in June?
XRP’s momentum has been slowing down for a while, most likely because of Ripple’s lawsuit against the US SEC. XRP prices briefly spiked in the last year when a district judge ruled that some of their arguments were valid. A district court ruled in favor of the fintech company, ruling that it did not violate securities laws by selling XRP to retail customers. Investors are now awaiting the ruling of the high court on the case.
Weekly price forecast for Ripple (XRP)
CoinCodex estimates that the XRP price could reach $0.69 in 2024. A rise of 35.2% would result in XRP reaching $0.69. But the platform doesn’t expect the prices to stay the same, as it predicts that they will fall to $0.54 before the end of this month.
Also Read: Ripple: How High Can XRP Go if Bitcoin Hits $155,000?
Chagnelly presents a similar scenario for XRP. Platform predicts that the asset will surge up to $0.695235 by June 6, 2024. Changelly, on the other hand, expects that XRP will fall below $0.592719 around June 8, 2024.
Also Read: How High Could Ripple XRP Go If It Hits $3 Trillion Market Cap?
The ongoing SEC suit is one of the biggest barriers for XRP to reach its current price. The price and adoption of XRP could surge if the SEC lawsuit is successful. The overall sentiment of the market could also have an impact on XRP. XRP could gain momentum if BTC again reaches a record high.
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Source: watcher.guru
