After two years of the asset struggling, Ripple (XRP) has skyrocketed a remarkable 258% in 2024, with all eyes on what it could achieve next year. With favorable regulation in the United States, there are high hopes for the token’s performance. Specifically, there are expectations that it could make good on the immense potential of the project.
The asset has struggled within the last week due to an overarching market downturn. Following a bull rally that dominated November, the asset class has seen another $680 million liquidated early Friday. Although that is expected to hit Ripple, it should not deter what should be a massive year.
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Ripple XRP Looks to Build off Mammoth 2024, Eye Huge Gains Next Year
This year has proven to be an unforgettable one for cryptocurrencies. Two crypto-based ETFs have been approved over the last 12 months, with the asset class getting unprecedented institutional investment. Those facets have combined to lead Bitcoin to a six-figure price for the first time in its history.
It certainly has not been the only one. A host of assets have had monumental years, with Ripple’s 258% increase leading the way as traders anticipate 2025 being a massive year for the emerging cryptocurrency. That kind of performance is a deviation from its recent years, when it has struggled with ongoing legal battles with the US Securities and Exchange Commission (SEC).
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The token struggled in late December. Friday, the asset lost as much as 8% in seven days, according to CoinMarketCap. Moreover, a 23% increase in trade volume had XRP trading in the $2.2 range for much of the week. However, it had still been up more than 103% in the last 30 days.
Analysts are expecting pretty big things from Ripple in 2025. Specifically, crypto price prediction platform CoinCodex is anticipating the asset reaching a price of $4 as early as April of next year. That would represent a 79% increase from its current position.
However, the platform doesn’t foresee much gain beyond that. Indeed, $4.04 would represent the yearly high. Yet, the token is expected to remain above the $3 mark for several months of the year.