CandleFocus This is how Ripple (XRP) performed in 2024 so far
2024-12-08
Author: Content Editor
In 2024, XRP experienced a price breakout, rallying over 300% in the past month and surpassing Solana and Tether's market capitalization. Despite this, it still trades below its record high of $3.40. XRP's rise was fueled by renewed optimism after Robinhood relisted the token and Ripple's partial legal victory against the SEC. The anticipation of an XRP exchange-traded fund (ETF) receiving approval and the potential launch of Ripple's stablecoin RLUSD also contributed to the momentum. Technical analysis suggests a conservative price target of $8 and an optimistic target of $48.12. However, there is a possibility of a short-term correction or consolidation due to being overbought.
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