Ripple’s XRP token has had quite a breakout over the last few weeks. The asset breached the $3 mark for the first time in seven years. The asset is currently only 6.8% away from its all-time high of $3.40. XRP peaked on Jan. 7, 2018, more than seven years ago.
Also Read: SEC Rule Change Makes Cryptocurrency Offers Easier For Banks
XRP Inching Closer To New Peak
Ripple’s XRP token has rallied 1.7% in the daily charts, 37% in the 14-day charts, and 38.8% over the previous month. The asset’s price has also risen by 515.9% since January 2024. Despite the rally, the asset is down 4.3% in the weekly charts. The asset may be on its way to a new all-time high.
Also Read: Shiba Inu (SHIB) & Ripple (XRP) Price Prediction For Early February 2025
The latest market resurgence could be due to Donald Trump signing an executive order to set up a digital asset stockpile in the US. XRP could be one of the tokens the US government includes in its coffers.
When Will The Asset Hit A New All-Time High?
According to CoinCodex, XRP’s price will consolidate around current levels till late March 2025. The platform anticipates the asset to hit a new peak of $3.45 on Mar. 30, 2025. CoinCodex does not expect XRP to stop at $3.4. The platform predicts XRP to hit $4.73 on Apr. 9, 2025. Hitting $4.73 from current price levels will translate to a rally of about 49.21%.
Also Read: BNB Foundation Burns $1.16 Billion in Tokens: What It Means for Investors
There is also a possibility that Ripple’s XRP token will take longer to breach the $4 mark. The Fed has taken a hawkish stance with its monetary policy for 2025. The Fed has announced only two interest rate cuts this year instead of the expected three. The development could cast a shadow on XRP hitting $4 in Q1 2025.
Credit: Source link