- XRP has shown impressive growth recently, surging over 25% to $1.62 before correcting to $1.47, bolstered by Ripple’s legal victory against the SEC.
- However, projections suggest the altcoin is unlikely to hit the $2 mark before Thanksgiving, requiring a steep 35% surge from its current price.
Ripple’s XRP has been a cornerstone of the cryptocurrency market, enduring ups and downs that reflect its resilience and investor optimism. With Thanksgiving 2024 approaching, many wonder: Can XRP hit $2 before the holiday?
XRP’s Recent Performance: A Rollercoaster Ride
Over the past week, XRP has captured attention with its dramatic price movements. The altcoin surged by over 25%, climbing from $1.09 to $1.62. This rally revitalized market confidence, but Sunday brought a sobering 10% correction. As of now, XRP is in recovery mode, trading at $1.47—a 1% gain in the last 24 hours.
The broader cryptocurrency market also plays a role in XRP’s trajectory. A recent victory against regulatory challenges has further boosted morale among XRP investors, often referred to as the “XRP Army.” Ripple’s Chief Legal Officer, Stuart Alderoty, celebrated a legal win against SEC Chairman Gary Gensler, calling it a roadmap for overcoming regulatory hurdles. “The faith and support of the XRP Army provided much-needed hope in the darkest days,” Alderoty stated, reflecting the community’s resilience.
Thanksgiving Forecast: Slower Momentum Ahead?
Despite its impressive rally, XRP’s path to $2 remains steep. According to CoinCodex, the asset is expected to trade at $1.40 and $1.21 on November 26 and 27, respectively. By Thanksgiving, projections suggest a price of $1.22. For XRP to hit $2 from its current level, it would require a surge of over 35%.
This target, while not impossible, demands strong market sentiment and possibly external catalysts such as broader crypto adoption or a regulatory breakthrough. Historically, such gains within a short timeframe are rare, particularly in a market prone to corrections.
The Road Ahead for XRP
Investors remain hopeful but cautious. XRP’s price movement depends on multiple factors, including market sentiment, regulatory developments, and overall crypto trends. With a 35% leap needed to reach $2, the altcoin might not meet this ambitious goal before Thanksgiving.
However, XRP’s resilience and community support signal long-term potential. While $2 might not happen this holiday season, the cryptocurrency’s recent rally hints at brighter days ahead for Ripple and its supporters.
For now, XRP enthusiasts can celebrate the victories achieved in 2024 and look forward to future milestones. Thanksgiving might come too soon for the $2 mark, but XRP’s journey continues with optimism intact.
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