XRP Price Prediction: Is XRP On Its Way To $2?

Ripple’s XRP witnessed a significant increase in its price along with Bitcoin (BTC), which reached another historic ATH of $70,000.

Written by: Sophia Cruz • Tuesday, March 12, 2024 • 1 min read

Ripple’s XRP witnessed a significant increase in its price along with Bitcoin (BTC), which reached another historic ATH of $70,000. Ripple (XRP), on the other hand, surged by 14.55% peaking at $0.6986 within 24 hours. The question now is, will the XRP price reach $2 anytime soon?

XRP Price Prediction: Is XRP On Its Way To $2?

At this time of writing, the price of XRP is trading at $0.6972, with a 24-hour trading volume of over $7.5 billion. Its total market cap also surged by 11.14% to $38.17 billion.

XRP hit its peak price in January 2018 hitting its all-time high of $3.92. In contrast, XRP’s lowest price was recorded in July 2014, hitting an ATL of $0.002802. Since then, XRP’s lowest price following its ATH was $0.113268, while the highest price since that low point reached $1.977930. At this stage, sentiment toward XRP’s price is bullish, as indicated by the Fear & Greed index.

Looking at XRP’s supply, there are currently 54.74 billion XRP in circulation out of 100 billion XRP. Its annual supply inflation rate is at 8.91%, resulting in 4.48 billion XRP over the past year.

Looking forward, there’s a possibility that following any potential declines, XRP may still reach $1 particularly if the broader crypto market continues to be bullish. However, reaching $2 is still unlikely for XRP at this stage as it would require Bitcoin (BTC) to reach at least $100,000. Although it’s not impossible, it’s also not something to expect anytime soon.

At this stage, XRP is relatively stable, which is a good indication of its overall price trajectory.

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ABOUT THE AUTHOR See More

Sophia Cruz

Financial Writer - Asian & European Desks

Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.