XRP News Today: XRP Surges 420% in Q4 2024, Eyes $3 Mark

XRP, the cryptocurrency associated with Ripple, has recently experienced a notable surge in price, reigniting optimism among its supporters. Over the past month, the $2.31 – $2.32 level has been a critical resistance point, tested multiple times. A strong breakthrough at this level could propel XRP towards the $3 mark in the short term. Additionally, surpassing $2.35 might signal a swift move towards $2.56 and potentially higher, depending on market conditions and overall improvements across the cryptocurrency sector.

XRP has faced challenges in breaking past the $2.31 – $2.32 range, pulling back at each attempt. This area has become a key hurdle for continued price increases. Stakeholders are eagerly anticipating the altcoin overcoming this barrier and sustaining that level for a sustainable uptrend. Clearing this resistance could set the next significant target at $3. A strong close above $2.35 might be a technical sign facilitating a rapid ascent to $2.56 and further.

Vincent Van Code, a long-time XRP advocate, shared on social media that his ultimate price target for the altcoin is between $30 and $50. He did not specify a timeline, emphasizing that it was his personal outlook. This statement reflects the strong belief many XRP holders have in the coin’s long-term potential. Driving this optimism is the increasing adoption of XRP, bolstered by growing interest from major financial institutions. Ripple, the company behind XRP, has taken significant steps in this area by acquiring firms focused on digitizing assets like real estate, stocks, and U.S. Treasury bonds and forming strategic partnerships.

Additionally, Ripple’s long-standing legal battle with the U.S. Securities and Exchange Commission (SEC) is nearing its end. This conclusion raises expectations that XRP, which was largely absent in the previous bull market, could recover losses in the expected ensuing rally. Ripple CEO Brad Garlinghouse announced on social media that the company would withdraw its cross-appeal and expects the SEC to retract its appeal as well. He stated, “We are closing this chapter once and for all, to focus on what truly matters: building the internet of value.”

Farina expressed his confidence in XRP, stating that the greatest financial gain he expects to achieve will come from holding XRP until its value surpasses $100. This bold prediction underscores the growing optimism surrounding XRP's potential for substantial growth. Ripple's CEO, Brad Garlinghouse, has also shown his unwavering support for XRP. In a recent social media post, Garlinghouse declared his "1,000% commitment" to XRP and its long-term potential. This declaration has sparked renewed support and commentary from the crypto community, further bolstering XRP's standing in the market. Garlinghouse's commitment was further emphasized when he got a tattoo symbolizing his dedication to XRP, a bold move that underscores his belief in the cryptocurrency's future.

The potential for XRP's price to rally significantly has been a topic of discussion among traders. Some traders predict that prices could rise to between $2.22 and $3.61 in the next few days, while others are even more optimistic, suggesting that prices could reach $8 or higher. These predictions highlight the bullish sentiment surrounding XRP and its potential for substantial gains. The enthusiasm for XRP is not limited to individual investors and industry leaders. The cryptocurrency has shown signs of a potential breakout, with its price rallying by 420% in the fourth quarter of 2024. This impressive performance has renewed investor enthusiasm and has positioned XRP as a strong contender in the crypto market.

Looking ahead, the future of XRP appears promising. According to the analyst's forecast, in order to double in value and hit a price of $4 within five years, XRP will need an annualized growth rate of 15%. This growth rate is within the realm of possibility, given XRP's recent performance and the growing interest in the cryptocurrency. The potential for XRP to reach a price of $3,380, as suggested by some analysts, would result in significant gains for investors. For example, 1,000 XRP at a price of $3,380 would be worth $3,380,000, while 5,000 XRP would be worth $16,900,000, and 10,000 XRP would be worth $33,800,000. These figures illustrate the potential for life-changing gains for investors who hold XRP.