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Unconfirmed spot Bitcoin (BTC) exchange-traded fund (ETF) applications have become the main catalyst around which the industry’s expectations have united. Major cryptocurrencies have approached pre-bear market levels.
XRP’s 2024 Target
During this period, the total market value increased by 65% to $1.65 trillion, leading many experts to call this stage an early bull market. According to internal analysis, XRP’s price in January 2024 will be an average of $0.50, which could signal a potential correction. The monthly average price was expected to rise steadily to $0.85 by December 2024.
According to the mentioned forecasts, XRP’s average price for the year 2024 was expected to be around $0.77. Speaking with CoinLedger’s CEO David Kemmerer, he predicted that XRP would be in the range of $1.00-$1.20 in 2024. Similarly, a shared analysis by the cryptocurrency exchange Bitrue targets a range of $1.5 to $2 for the payment-focused cryptocurrency in 2024. The Bitrue analytical report concluded as follows:
Achieving millionaire status through XRP in 2024 requires a comprehensive understanding of the market, a willingness to take calculated risks, a diversified investment approach, and a keen eye on ongoing market dynamics.
Analyst Commentary on XRP
Another cryptocurrency analyst, David Kemmerer, also had a similar warning. The expert stated the following in his remarks:
Investing in XRP has tons of potential, but it is still considered to be on the riskier side, so investors should be cautious about how much they choose to invest.
Investors should also pay attention to other factors that could significantly affect XRP’s market value in 2024. Rumors about Ripple’s initial public offering (IPO) might be right in the middle of this mix. Recently, Wall Street investment expert Linda Jones predicted that Ripple could go public as early as May 2024. The possibility of the company’s shares being listed on the stock exchange could significantly increase the value of XRP. Moreover, even though Ripple has achieved significant gains, legal complications for the company have not completely ended. A jury trial that will determine the fate of senior executives, including CEO Brad Garlinghouse, is planned for the second quarter of 2024.
