Ripple’s native cryptocurrency XRP is currently trading in the $0.59 price range in the charts on Tuesday. The leading altcoin is going downhill in April as it dipped by nearly 8% in the seven days. The broader cryptocurrency market is facing corrections after rallying hard in March last month. Bitcoin reached a new all-time high of $73,737 in mid-March pushing the overall cryptocurrency market to new highs.
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The upcoming Bitcoin halving event is what led to BTC and XRP prices surge in the charts this year. For the uninitiated, the Bitcoin halving event will cut BTC’s supply in half making the cryptocurrency scarcely available in the market. The development will help push BTC’s price further up as the demand will be more while the supply is less. The Bitcoin halving is scheduled to take place on April 20, 2024.
Now that the cryptocurrency market is correcting, a leading prediction firm forecasted that Ripple’s XRP could skyrocket in price next. In this article, we will highlight how Ripple’s native token XRP could spike in the charts, according to the prediction.
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Ripple’s Native Token XRP Could Rise 200%
Source – Watcher Guru
The Finder’s panel of experts has predicted that Ripple’s native cryptocurrency XRP could surge by 200% next. The panel of cryptocurrency analysts has put a price target of XRP at $1.73 level. That’s approximately 200% from its current price of $0.59.
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Source: Finder.com
The timeline to rise by 200% and reach the $1.73 mark is in 2025. Therefore, if you invest $10,000 in XRP today, it could turn into $30,000 in 2025, if the prediction turns accurate. That’s a stellar return on investment (ROI) in a year if the forecast turns into reality.
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Nonetheless, the cryptocurrency market throws a lot of surprises and is capable of heading south due to volatility. There is no guarantee that Ripple’s XRP could hit $1.73 in 2025 by rising 200%. It is advised to do thorough research before taking an entry position in Ripple’s native token XRP.
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