Investing

Prediction: XRP Will Hit a New All-Time High Before the End of the Year

Chris MacDonald

Published: December 9, 2024 8:47 am

XRP (CRYPTO:XRP) remains a top cryptocurrency project many investors continue to watch closely. There are a number of key reasons for this token’s recent incredible moves higher, with XRP surging more than 360% over the past month to become the third-largest crypto by market capitalization. And given that this project now carries a market cap of nearly $150 billion at the time of writing, it’s clear that investors are beginning to pay much more attention to this leading crypto project, particularly given its recent incredible momentum.

As I’m going to discuss in this piece, XRP is certainly among the leading beneficiaries of what is expected to be a much more favorable regulatory environment moving forward. Like other crypto projects, XRP has seen incredible interest as not only a platform for revolutionary technologies to be built upon, but as an investment vehicle. A Trump-led administration (and his new SEC nomination) should open the doors for a range of spot ETF options for XRP and other cryptos, allowing even more institutional capital to flow into this sector.

However, there are other key factors at play that many crypto experts believe could lead to a new all-time high in XRP before the end of the year. Here’s why I think that could certainly be the case, and where I see XRP headed over the next few weeks.

Key Points About This Article:

• XRP is among the top cryptocurrencies in terms of year-to-date performance, and this outperformance could certainly continue through the end of the year.
• Here’s where this top-3 digital asset could be headed by the end of 2025 if this momentum continues.
• If you’re looking for some stocks with huge potential, make sure to grab a free copy of our brand-new “The Next NVIDIA” report. It features a software stock we’re confident has 10X potential.

Just How High Can XRP Fly?

It’s worth pointing out that while XRP has soared nearly five-fold since March, this token’s value still remains roughly 25% below the all-time high XRP set nearly seven years ago. So, there’s still work to be done for this digital token to eclipse the $3.40 level, a level which may not seem so far out of reach anymore, given this recent momentum.

Of course, the question is just how long this momentum can be sustained, and whether the catalysts which have drawn broad-based buying pressure in the crypto sector will be unwound at any point in time. Indeed, given how far XRP has run this year, it would be a shame to not see a new all-time high form before the end of the year. And while a move of more than 30% higher is a big ask, it’s a move that most would contend is well within the realm of reason right now.

There have been a number of skeptics who have pointed out XRP’s failings as a potential revolutionary project within the global banking sector. Indeed, XRP was called a “crypto zombie” by some experts, with a pervasive view among a few notable pundits that this token’s valuation was tied more to speculation than anything else. And while animal sprits are certainly high in this sector right now (no doubt driving much of the move we’ve seen in XRP), the question is whether the narrative has officially changed as a result of the improved sentiment seen around the regulatory environment moving forward. If new investing vehicles are bought to the market for institutional money managers to invest in XRP, assuming they do, this is a project that could certainly surge well past its previous all-time high over time.

Key Catalysts Driving XRP Higher

As mentioned, XRP’s valuation surge in recent weeks certainly has plenty to do with speculation around how a new Trump administration may change the investing game for crypto more broadly. However, XRP’s core differentiating factor is the project’s focus on solving cross-border payment challenges, offering a faster and cheaper solution.

Granted, adoption hasn’t panned out the way many bulls may have expected since this project hit its all-time high in early 2018. But there’s always time for things to change. And with strong buying from institutional investors and whales (with wallets holding 1–10 million XRP buying 671 million XRP tokens over the past three weeks), it’s clear that at least those in the crypto community are very bullish on this project as a speculative vehicle with plenty of upside ahead. 

A previous target of the SEC, with a long-standing lawsuit levied by regulators over purported undisclosed asset sales now resolved, XRP’s ability to thrive as an investable digital asset (and potentially a regulated and/or government-sanctioned medium of exchange for cross-border transfers) could be the key catalyst investors are buying into right now.

Where XRP Could Be Headed

In my view, XRP’s recent momentum could see this token move toward the $4 level before the year is out. Yes, I realize that such a move would push this project’s valuation to more than $225 billion. But given where other digital assets are currently trading, such a valuation may actually be considered reasonable. It’s really a question of how much capital ends up flowing into this sector from big money investors, and if this capital will choose XRP as a top choice. But it’s also true that I’m not alone in the view that XRP’s momentum could drive significant upside in this token.

Notably, crypto analyst Dark Defender forecasted XRP could hit $10 this cycle and possibly $18 next year, citing Elliot Wave theory. Another analyst Egarg Crypto predicted XRP could rally from $2.20 to new highs but warned a drop below could hit $1.63. So, there are a range of divergent views out there. 

As with any crypto project, significant risk exists when looking to enter near these levels. Accordingly, I think investors ought to only invest what one can afford to lose, with some sort of price target level at which to take profits along the way higher.