As of now, according to CoinMarketCap data, Ripple (XRP) is priced at $0.603 as it tests support levels. Despite the lawsuit filed by the U.S. Securities and Exchange Commission (SEC), XRP has managed to retain its place among the top 10 cryptocurrencies on CoinMarketCap. This resilience has caught the attention of many potential investors. Market conditions are always changing, but TradingView data shows a buy trend in the 1-week rating, while the 1-month rating indicates a strong buy signal.
1-Day Technical Analysis Signal, Source: TradingView
Conversely, our platform currently prices XRP at $0.592, with an expected increase of 6.26% to $0.606 by August 6, 2024. However, our technical indicators suggest that now might be a good time to sell, contrary to TradingView’s recommendation. Despite a strong month where XRP showed gains 70% of the time over the last 30 days, it experienced a moderate decline with a 33.20% volatility rate. In the past 24 hours, XRP has risen by 8.31% from yesterday’s lows. The current market capitalization stands at $33.12 billion, with 55.91 billion of the total possible 100 billion tokens in circulation.
Source: TradingView
Price Predictions for 2024-2025
As expected, several sources have projected XRP’s price for the coming year, 2024. According to Coinfomania market analysis, XRP’s price could reach $1.37 in 2025 but may also fall to $0.637, with an average expected value around $1.22. Other sources reflect similar values. DigitalCoinPrice predicts XRP’s price to be $1.27 in 2024, indicating a significant increase from its current valuation. Looking further ahead, they forecast a gradual rise with Ripple‘s price reaching $1.47 in 2025.
Cryptonews shares a similar sentiment, predicting that XRP could reach $1.07 by 2025, representing a potential return on investment (ROI) of 76.86%.
On the contrary, InvestingHaven forecasts that XRP could realistically target price ranges between $2 and $4 in the current bull cycle. Meanwhile, leading cryptocurrency prediction platform Changelly expects XRP’s price to be around $0.730 by the end of summer 2024, significantly different from other predictions. They conclude that XRP’s price could drop to a minimum of $0.641 in August 2024.
Is Now the Best Time to Buy XRP?
Investing in XRP is not without risks. The ongoing legal battle with the SEC is concerning. The SEC views XRP as a security, which leads to regulatory issues. Until these issues are resolved, XRP might struggle to attract investor interest.
So, is it worth buying XRP before it reaches $1? The answer largely depends on your risk appetite. If you believe in Ripple’s technology and are willing to take a risk, investing in XRP might be a worthwhile venture. However, if you are risk-averse, it may be best to wait until the legal issues are resolved.
Post-Ripple (XRP) Price Prediction 2024-2025: Is Buying Before $1 a Smart Move or a Risky Bet?
Originally appeared on Coinfomania.
