Over the years, Ripple, a popular financial technology company, has maintained its exponential growth with continuous collaboration and upgrades. However, the impact of this exponential growth is not visible in the XRP price for the last seven years. Instead, the holders have faced some of the biggest drops and losses on such a well-known crypto token.
Despite being one of the top 10 cryptocurrencies, XRP news tells a completely different story. Nevertheless, the holder’s support has stayed constant, including many anticipating the possibility of the token price to surge to $1, $5, and even $100 in the upcoming days.
What Will Push XRP Price To $1.1 and Higher?
After so many years in the industry, many people have criticized the Ripple price performance, where its current worth is $0.5713. It is concerning, especially after realizing that the token was worth $3.84 at one point but has dropped more than 85% since then. However, with the Ripple Vs SEC lawsuit coming to an end, things might short out soon.
Moreover, many platforms have also begun showing their support for the Ripple token, which is an indication of the changing market position. This change began with Grayscale launching the XRP trust, which was canceled a few years ago due to the XRP’s legal disputes and the difficulties in the token conversion. More importantly, the relaunch of XRP trust opens a window for the XRP ETF, which will entirely change the future of this struggling token.
After seeing the popularity surrounding the Bitcoin and Ethereum ETF, the expectations are much higher with the XRP one as well, which will boost the XRP price. Probably because of the possibility, the popular crypto exchange, Robinhood, has also announced interesting XRP news about relisting the token.
Will the XRP Price Hit $1.1 Anytime soon?
On analyzing the ongoing trends, many crypto analysts have anticipated heavy gains for the token. It includes Ali Charts, a popular crypto analyst, who has been speaking of the XRP price hitting $1.1 for months. As per his one X post, the price charts show an ascending parallel chain since June 2022, and on the continuation of the same, it can surge to $0.80 and $1.10 at some point.
From this perspective, the governing pattern behind #XRP price action since June 2022 appears to be an ascending parallel channel.
If this pattern continues, $XRP could make its way toward the channel’s middle or upper boundaries, which currently sit at $0.80 and $1.10,… pic.twitter.com/kCKHEFZQWe
— Ali (@ali_charts) January 8, 2024
Another crypto analyst, Steph Is Crypto, has highlighted the Ripple token completing an inverted head and shoulder formation on the daily charts. If it closed the day at $0.65, the Ripple price will hit $1.10 in no time.
Interestingly, such a prediction has been going on for many years, but the result has turned disappointing many times. The Ripple token peaked seven years ago but has slowed down ever since then. However, it is not like the token has not achieved the $1 mark ever in its trading history. It has happened multiple times and might happen again.
Overall, the possibility of XRP touching $1.1 anytime soon is low, but with the new ways of growth opening for this token, there is a possibility of that happening in the future, especially when the bull run hits. More importantly, even the ChatGPT revealed a promising future for XRP through Astrology, so the expectations are high.
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