Analysts speculate on XRP reaching new highs by year-end

Ripple’s XRP (CRYPTO:XRP) has experienced significant price growth in recent weeks, with a nearly 200% increase over the past month.  

Currently trading at approximately $1.50, analysts are speculating whether the cryptocurrency could reach new all-time highs by the end of 2024.  

X user CrediBULL Crypto noted that XRP’s momentum appears strong and predicted a rise to $1.60, provided Bitcoin’s (CRYPTO:BTC) movements do not disrupt the rally.  

Another analyst, Crypto Assets Guy, forecasted an even more optimistic trajectory, predicting a potential price of $2 by the end of November and an all-time high above $4 before Christmas.  

Crypto Assets Guy also suggested XRP could reach $10 in the first quarter of 2025, which would require its market capitalization to surpass $500 billion, a significant leap from its current $85 billion.  

A major factor influencing these predictions is the anticipated leadership change at the U.S. Securities and Exchange Commission (SEC).  

Gary Gensler, the current SEC Chair, is set to step down in January 2025.  

His tenure has been marked by legal actions against crypto firms, including Ripple.  

Analysts speculate that a pro-crypto successor could lead to a favorable resolution of Ripple’s longstanding lawsuit with the SEC, which has been ongoing for nearly four years.  

X user CryptoBull added another ambitious forecast, suggesting that XRP could climb as high as $30 under specific conditions.  

“If it continues the trend, it would close around $5 in December and $30 at the end of January 2025,” the analyst stated, tying this possibility to historical trends.

At the time of reporting, the XRP price was $1.43.