XRP remains one of the most closely watched cryptocurrencies on the market as investors watch the ongoing legal dispute between Ripple and the United States Securities and Exchange Commission (SEC). On the other hand, Bitcoin is the biggest cryptocurrency. For these reasons, the price movements of these two cryptos are being watched closely. In this article, we will present the long-term goals of CoinCodex, a crypto tracking platform that uses a self-learning machine algorithm, for these two cryptos. However, it is worth noting that these are only estimates. There is no certainty that we will see these levels. Here are the details…
What are the prospects for XRP?
Although XRP generally follows trends in the cryptocurrency market, the lawsuit has placed it in a unique position. Investors are interested in how the outcome will affect the asset. The case is expected to conclude this year. This makes it particularly interesting to observe the reaction of XRP. CoinCodex values XRP at $0.58 on December 31, 2023. This marks a 20 percent increase from the $0.48 price on July 2. Also, the self-learning machine algorithm tool compared XRP to other key technological innovations and trends. Accordingly, the platform presented potential price growth scenarios for XRP based on the internet, mobile technologies, and the trajectories of major technology companies such as Google and Facebook.
If XRP follows the trajectory of the internet, it has the potential to trade at $0.62 in 2024. There is a potential to see $0.80 by 2025. In other words, this means an increase of 66 percent compared to the current valuation. There’s also a chance it could be worth $0.91 in 2024 if it mimics Google’s growth. It can also potentially see $1.42 in 2025. This means a growth of almost 200 percent.
If XRP reflects Meta’s trajectory, it’s $1.83 by 2024 and $4.08 by 2025. Finally, for mobile growth, XRP could be worth $0.61 by 2024 and $0.78 by 2025 if it follows a similar path. Indeed, the outcome of the SEC lawsuit remains a major driver for the value of XRP. Analysts argued that a positive decision for the blockchain firm could act as a bullish indicator for the token, while a negative result could have the opposite effect.
What’s next for bitcoin price?
So, how will the biggest cryptocurrency move according to this system? CoinCodex set the price of Bitcoin at $38,183 on December 31, 2023. In other words, he suggested that its value would increase by close to 23 percent from its current figures. Also, if Bitcoin price moves in the same growth pattern as the internet or big tech companies, its average price will reach $62,193 by the end of 2024. This means a gain of over 100 percent compared to its current price.
Specifically, if it only follows the path of the internet, it will reach a price of $38,887 by the end of 2024. Following the growth of mobile technology could take it $38,233. It would cost $56,838 to imitate Google’s expansion, and $114,812 to follow Facebook’s path. At the same time, the above logic indicates that the cryptocurrency could reach an average price of $110,636 by the end of 2025 (a 256 percent increase). Because the price based on the growth of the internet is $50,202, and when it comes to mobile technology, it’s $48,942. Also any indicator on Google would be $88,713, while Facebook would point to $254,687.
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