XRP The coin was one of the best-performing cryptocurrencies earlier this year. In this context, its price rose above $0.80 in mid-July. At the time, US Federal Judge Analisa Torres ruled in favor of the blockchain company in its lawsuit against the SEC, ruling that almost all of Ripple’s XRP sales years ago did not constitute an investment contract offer.
However, XRP could not maintain its momentum. It fell below the $0.50 level in September. The asset has shown some signs of revival since then. It is currently trading around $0.62, according to data from CoinGecko.
Although many have challenged bullish pundits who predicted the asset to end the year significantly higher, some remain optimistic that the token is yet to experience a significant price increase.
Popular X user EGRAG CRYPTO is among them. The analyst recently presented a chart where XRP entered an upward path in the spring of this year.
Moreover, EGRAG CRYPTO has predicted an almost 100% price increase in the next 55 days. This means the asset could be worth around $1.20 by the end of March next year (shortly before the BTC halving, which is seen as a major catalyst that could trigger the Bitcoin rally and positively impact the entire market). The analyst is of the opinion that such a price increase will be possible due to the nature of the token and its recent performance.
Koinfinans.com As we reported, Crypto_Barbie predicts that XRP will experience a mega-rise similar to the one at the end of 2017 in the remaining days of 2023.
A Closer Look at Important Factors
It’s possible that the token’s price will indeed surge soon, given the rise in several key metrics. According to Xrpscan, the number of XRP transactions carried out exceeded the two million mark on December 25 and December 26. Such a figure was last seen in March this year.
The number of new XRP accounts activated has also increased significantly. Additionally, it surpassed 12,000 on Christmas and rose even higher the next day.
altcoin Their wallets are also on the rise this year. It is currently heading towards the 4.4 million milestone. In comparison, this number was around four million at the beginning of the year.
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