XRP: A Portfolio Game-Changer in 2024
For investors who seized the opportunity to acquire XRP when it hovered around its long-term average of approximately $0.50, the cryptocurrency proved to be a remarkable addition to their portfolios by the end of 2024. After trading around the 50-cent mark for the majority of the bull market, XRP experienced a dramatic surge starting in early November, culminating in a new all-time high (ATH) of approximately $3.31 on January 17, 2025.
This remarkable rise meant that investors who invested as little as $1,000 in XRP by November 1 saw their investment grow to an impressive $6,490.19 within just a few weeks.
XRP’s Subsequent Performance: A Mixed Bag
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Despite the initial excitement, XRP’s subsequent performance has been somewhat lackluster. As of February 10, the cryptocurrency remained 13.69% higher year-to-date (YTD), trading at $2.41. However, the same initial investment would now be valued at a substantially lower $4,725.49.
Why XRP Might Be on the Verge of a 52% Decline
The current situation has sparked discussions and predictions about XRP’s future trajectory and whether it could reach new heights during the much-anticipated ‘altseason.’ A cryptocurrency trader, known as Harold_123 on TradingView, shared an analysis in early February, surprising some investors with a prediction that XRP could potentially experience a 52% decline in the coming weeks.
With XRP trading at $2.41 at the time of the analysis, such a downturn would imply a potential trading price as low as $1.16 in the short term.
XRP Price Forecast: A Silver Lining?
Despite the bearish prediction, there might be a silver lining. The forecast is based on parallels between XRP’s late 2024 and early 2025 rally and its previous bull cycle in 2017. The trader observed that both rallies followed an extended ‘triangular consolidation’ phase, leading to a breakout. If these patterns persist, XRP might face the predicted correction in the near term. However, historical performance suggests that this wouldn’t necessarily mark the end of the cycle.
According to the trader, after a period of price depression, XRP could potentially reach new highs, with speculative projections suggesting a surge to around $26, based on established Fibonacci values.
Could XRP Experience an Even Greater Surge in 2025?
This forecast aligns partially with other analysts’ predictions. For instance, Ali Martinez shared an analysis in early December, suggesting that XRP could aim for a high of $8.40, with the possibility of an even more significant rally up to $48.12.
However, it is important to note that these predictions are based on various forms of technical analysis, the assumption that XRP will perform similarly to its previous cycles, and momentum driven by Gary Gensler’s resignation from the SEC.
XRP’s recent performance may have invalidated some expectations, and the regulatory-driven momentum remains uncertain. Although Gensler’s resignation initially propelled the token upward, XRP is currently trading 22% below its level at the time of his actual departure as SEC Chair on January 20.
