Ripple’s XRP token is currently the best-performing cryptocurrency in the daily charts, among the top 100 projects by market cap. XRP, unlike other cryptoassets like Bitcoin (BTC), Ethereum(ETH), Solana(SOL), DogecoinDOGE, etc. are in the green zone.
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The daily chart shows XRP up 15.9%, the weekly chart 46.6%, the 14-day chart 57.9%, and the monthly charts 49.4%. This asset has now reclaimed $0.80 for the first since July 2023.
Why does XRP continue to rally while major assets remain in red?
Investors may be booking profits after the market’s recent surge. Bitcoin (BTC), a cryptocurrency, reached a record high on November 13, 2024 of $93,477.11. Some investors might have sold their other holdings and allocated their money to XRP.
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Ripple’s XRP is one of the most popular currencies for cross-border remittances. A $125-million fine was also paid by the fintech company to settle its case with SEC. XRP could be on its way to a rise now that it is free of legal issues.
Is it possible that the Asset will reach $1 soon?
Ripple’s XRP token last traded above the $1 mark in November 2021, three years ago. It is down 76.1% compared to its previous high, $3.40 in January 2018. This was nearly seven years back. XRP is having a difficult time gaining traction. It is possible that things will soon be different for this asset.
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Analysts at CoinCodex predict that XRP’s price will continue to rise over the coming days. CoinCodex predicts the asset will breach $1 by next week. CoinCodex analyst predicts XRP trading at $1.06 in November 2024. The platform does not anticipate XRP’s price to hold above $1, predicting a correction to $0.84 by Dec. 10, 2024.
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Source: watcher.guru
