Top 3 Reasons Why XRP Price Will Hit $1 Soon

XRP is one the most popular altcoins, which has the potential to make it big in the crypto market. The community is anticipating the $1 mark after years of being stuck in the same price category. And now things are about to change as many factors indicate that XRP might hit $1 soon. Let’s find that out.

Why XRP Price Will Hit $1 Soon

XRP is ranked 6th on the coinmarketcap with a trading volume of $2,372,798,461. The price statistics and the market conditions indicate a favourable situation for XRP to make it above the current price.

There are three main reasons why XRP can hit the $1 anytime soon. These reasons are established on the current situations and market conditions, which might differ after some time, and in that case, the result will turn out differently.

1. Bullish Market Conditions Impacting XRP Price

XRP price has hiked more than 5% this week, and the significant jump was on 27 Feb, when it crossed the average price mark of this coin at $0.5. Currently, XRP is trading at $0.5792, with a hike of 4.41% from yesterday.

Also, many other cryptocurrencies are currently performing well in the crypto market. Bitcoin has crossed $57,000 and is moving towards an all-time high value. It’s anticipated that Bitcoin price hits $100K as well.

The market conditions are bullish this month, and the fear & greed index is at the mark of 80, which is extreme greed. It means people are buying more crypto, leading to increased prices for the majority of coins.

The market capitalization has increased by 1.40% and is $1.25 Trillion. Noticing the market shows the similarity to the epic run of 2017 that gave XRP its best prices. Such events might offer opportunities for XRP to move toward the $1 mark.

2. Regulatory Issue Developments

Ripple’s battle with the SEC has been going on for a long time, and the legal team for XRP has claimed to reach its climax in 2024. If that is true, the users will experience the next bull run where the legal issues won’t be restricting it back like the last one.

Last year, in July 2023, XRP still gained a massive surge and reached the $0.82 mark in the middle of this legal lawsuit. So, XRP might surpass the $ 1 mark if the settlements happen this year.

3. Attention Worthy Collaborations That Will Lift XRP Price

Earlier this year, Ripple announced their acquisition of another crypto custodian. It shows that the company is working on increasing its custodial offering to grow its payment capabilities.

Ripple has also partnered with Axelar to increase asset tokenization on XRP Ledger. This partnership will allow XRP to use Axelar’s GMP technology to execute calls about Smart Contracts on more than 55 blockchains. It will help to facilitate dApps and a more interconnected ecosystem on the XRP network.

Conclusion

In the last two days, the performance of XRP price has become a hope of the community to see the $1 mark, and if the trends and market situation remain identical, there will be chances of it happening soon. The crypto market is in a bullish zone these days, and cryptos are performing well. Read more about Ethereum Has Crossed 3K Mark.

The post Top 3 Reasons Why XRP Price Will Hit $1 Soon appeared first on CoinGape.

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