Ripple Gain 5% in 24 Hour; Can XRP Price Hit $0.7 This Week?

With the Grayscale XRP Trust Fund announcement, Ripple (XRP) is showing signs of a potential rally heading into the weekend. Currently trading at $0.569 and holding the seventh spot in the global cryptocurrency rankings, Ripple has demonstrated notable strength in recent trading sessions.

With a 5% increase in the last 24 hours and a 5.5% gain over the past week, the asset is positioning itself for what could be a decent move in the short term. Despite a 2.4% decrease over the past month, XRP’s recent performance has reignited interest among traders.

Weekend Outlook: Ripple’s Price Targets

Changelly analysts are eyeing ambitious targets for XRP this weekend. The projections suggest a trading range between $0.706185 and $0.722464.

Looking beyond the immediate future, technical analysis for XRP in 2024 presents a cautiously optimistic outlook. Projections indicate a minimum price of $0.537, with a maximum potential reach of $0.630.

The average trading price for XRP in 2024 is anticipated to be around $0.722, suggesting sustained interest and potential growth in the coming year.

As XRP approaches this crucial trading period, several factors are likely to influence its price action. The broader cryptocurrency market trends, including Bitcoin’s performance and overall risk appetite among investors, will undoubtedly impact XRP’s trajectory.

Also Read: SEC Admits Tokens Aren’t Securities; Ripple & Coinbase CLOs React