Ripple’s XRP token had an explosive rally earlier this year. The asset breached the $3 mark for the first time in nearly seven years. The January rally was likely due to a pro-crypto administration taking power in the US. XRP has faced a substantial price dip since January. The asset is down 0.7% in the daily charts, 2.6% in the weekly charts, and 12.2% over the previous month. Despite the dip, the asset has maintained some gains in the other time frames. XRP is up 11.1% in the 14-day charts and 293.9% since April 2024.
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XRP Gains Amid Bullish Developments
Ripple’s XRP has several bullish factors around its recent climb. The SEC dropped its litigation against Ripple in March. The lawsuit was one of the most substantial reasons for XRP’s lackluster performance over the last few years.
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There are also 10 active XRP ETF applications with the SEC. There is a high probability that we will get an XRP ETF sometime this year. The SEC has welcomed its new pro-crypto chair, Paul Atkins. Many are hopeful that Atkins will take a more lenient approach to the crypto space.
When Will the Asset Hit $4.50?
Ripple’s XRP token is currently down by 38.2% from its all-time high of $3.40. The asset peaked in January 2018, more than seven years ago.
XRP’s price has to rally by about 114% to hit the $4.50 mark. Reaching $4.50 will also be a new all-time high for the popular cryptocurrency.
According to Telegaon, XRP could hit the $4.50 mark sometime this year. The platform anticipates the asset to trade at a maximum price of $5.87 in 2025.
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Changelly analysts are slightly bearish on XRP. The platform anticipates the asset to hit the $4.50 mark by December 2026. Changelly predicts XRP will trade at a maximum price of $4.71 by the end of 2026.
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