Ripple price managed to maintain its strength relatively by closing at $ 0.61 in the first quarter of the year. XRP Predictions for its price still continue to include an average growth of 20% and a decrease of up to 30% from time to time. However, the general opinion is that it may record a new annual record level in 2024.
RippleWith the correction made in January, things took a different course. The key support is at $0.62 and a falling wedge formation. While this attracts the attention of traders, it is interpreted as a detail that may determine the course of business before the Bitcoin halving and the SEC lawsuit.
As we reported as Koinfinans.com, XRP has recorded many different and sharp price movements since the beginning of the year. Controversial analyst EGRAG continues its ambitious prediction that the price will rise above $ 10, but underlines that this is not certain.
On the other hand, he claims that the price is poised for a bull run as it has closed more than six monthly candles above the 21 EMA.
How Could There Be a Possible Rally in XRP Price?
Major factors that could trigger an XRP rally include the upcoming Bitcoin halving and the lawsuit between Ripple and the SEC. The anticipated hearing is scheduled for April 23, and a win for Ripple could spur an XRP rally in 2024.
Ripple Labs is expanding and collaborating, thus increasing the value of the token. The network has a supply of 10 billion XRP tokens. XRP’s market valuation may be renewed as it may attract investors’ attention after Ripple and the SEC decision. The token is priced at $0.59 and could rise 25.59% by mid-April 2024.
