XRPhas been struggling with recent market challenges. This creates fear and uncertainty within the community. XRP’s current position appears to be bearish, having closed January down over 18% and failing to capitalize on previous rallies. However, even amid this backdrop of skepticism, some analysts remain bullish, setting ambitious price targets and timelines.
Current Technical Landscape Draws a Bearish Chart
While XRP’s technical indicators are currently trending downwards, sentiment analysis from leading US-based crypto exchange Changelly shows a staggering 72% bearish trend, reflecting investor uncertainty. In the last 30 days, volatility is at 4.64% and only 14 days were given the green light during this period.
XRP is trading below both the 50-day Simple Moving Average (SMA) of $0.556665 and the 200-day SMA of $0.557095, indicating short- and long-term downside pressure. The 14-day Relative Strength Index (RSI) is currently at 48.55. This shows that XRP is neither significantly overbought nor oversold.
Despite this, Changelly predicted a 22.39% increase for XRP to rise to $0.654161 in February. However, a correction is expected as February ends at $0.639343. Despite a potential decline, the February closing price remains well above its current price of $0.5283.
XRP by the End of 2024 and Beyond
Changelly does not expect XRP to exceed $1 this year, with a projected maximum price of $0.79122087. However, Changelly’s predictions show that XRP will exceed $1 in 2025 and its maximum price will be $1.14. If XRP fails to reach this target, Changelly predicts that it will get very close to $1, predicting average prices of $0.99620037 and minimum prices of $0.96230376.
The exchange expects XRP to continue rising steadily throughout the rest of the decade, finally reaching double-digit prices by 2031, with a maximum price of $10.83. It also predicts that the minimum price will be $9.23 and the average price will be $9.56. However, it is stated that XRP may reach the double-digit price range in a shorter time than these predictions. Because recently a senior analyst predicted that it would rise to $27.
Triple Digit Goals
Changelly expects XRP to rise significantly between 2031 and 2040. The predicted minimum price is $339.68, with an average of $366.56 and a maximum of $413.80 by 2040. Moving into triple-digit territory would be a major milestone for XRP. When consulted, Google Bard gave a similar timeline, estimating that XRP could reach triple digits between 2045 and 2060.
However, some in the market believe that XRP has greater potential. Notably, one prominent figure predicted that XRP could reach $10,000 if it could become a bridge currency for Central Bank Digital Currencies (CBDCs). Such adoption and use cases indicate that the price of XRP could rise significantly in certain scenarios.
