The price forecast for XRP in 2024 largely depends on the outcome of Ripple’s ongoing legal battle with the SEC. Analysts predict that XRP could fluctuate between $0.50 and $0.80, with key factors such as a potential XRP ETF and Ripple’s RLUSD stablecoin project also influencing price movements. Investors should remain cautious due to the market’s volatility.
XRP Price Set for Fluctuation Between $0.50 and $0.80
According to Bitget’s chief analyst Ryan Lee, XRP’s price is expected to move within a range of $0.50 to $0.80 throughout 2024. This volatility is closely tied to the ongoing lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC). The uncertainty surrounding the case has forced many investors, particularly in the U.S., to adopt a cautious stance in the market.
The SEC recently filed an appeal, which added pressure to the market. Although the appeal does not directly challenge the ruling that XRP is not a security, it focuses on the personal sales of Ripple’s CEO Brad Garlinghouse and co-founder Chris Larsen. This renewed legal uncertainty could lead to heightened volatility in the XRP market, with potential price swings of up to 50%.
Legal Uncertainty and Ripple’s Future
The legal proceedings between Ripple and the SEC could extend into 2025, and the outcome could have lasting effects on XRP’s price. Should the court rule in favor of Ripple, a significant price increase for XRP is anticipated. However, if the ruling goes against Ripple, prices could dip below $0.50.
Another potential catalyst for XRP is the prospect of an XRP-based exchange-traded fund (ETF). CME Group’s Tim McCourt has indicated some progress on this front, although a full launch still seems to be a way off. If approved, an XRP ETF could drive further price gains.
Ripple’s new stablecoin project, RLUSD, could also positively impact XRP’s price. If XRP plays a pivotal role within this ecosystem, prices could push above $1. However, if XRP’s involvement in the project remains limited, there is a risk of a price drop.
As Turkish NY Radio has reported, Ripple’s ongoing legal battle and its potential impact on XRP’s future remain critical topics for crypto investors. The outcome of the case, along with developments around an XRP ETF and the RLUSD stablecoin, could shape XRP’s price trajectory in the coming months.
