Over the last 24 hours, the digital asset market has seen a plethora of tokens trade in the green. Moreover, Ripple (XRP) is enjoying a notable reversal that could pave the way to reaching $2 in 2024. Indeed, the asset could be set to carry its momentum to yearly highs soon.
XRP has steadied above $0.52 and is up more than 1.5% over the last 24 hours. Additionally, those gains extend to the last seven days, when the asset is also up, according to CoinMarketCap. The reversal could see the token finally break out of the $0.50 market that it has been stuck at for most of the year thus far.
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Ripple (XRP) Surge Gives Investors Hopes for $2 This Year
Heading into 2024, the digital asset market had high expectations for Ripple (XRP). Indeed, it was entering a massively important year, with its years-long legal battle with the US Securities and Exchange Commission (SEC) set to come to an end.
However, with that not solidified, the asset has certainly struggled. Although it hasn’t been privy to massive drops in value, it has failed to orchestrate any sort of notable surge. That may be set to change now.
Ripple (XRP) has seen its recent reversal potentially pave the way for the asset to reach $2 in 2024. Indeed, investors have become invigorated by its positive performance that extends to the last seven days. Specifically, crypto trader Dark Defender has shared an analysis of the asset’s potential increase.
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In a post to X (formerly Twitter), the user said that the asset’s “target $1.88 price [is] getting closer.” Moreover, a surge to that level could facilitate even more gains to break through the vitally important psychological level of $2.
XRP developments have also helped increase investors’ optimism. The ecosystem recently reached a new milestone, with 5.2 million active wallets. Blockchain data analytics firm Santiment has reported a significant record-breaking moment.
Moreover, increasing numbers of legal professionals have begun to express their belief that Ripple is set to emerge victorious in its ongoing SEC lawsuit. That should be a massive catalyst, leading to extended increases in the asset’s price. By the year’s end, XRP holders could be looking at a $2 token, at least.
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