Asus
The overall trend in the crypto market has been fluctuating, with prices constantly swinging up and down. However, investor sentiment is still high, with the Crypto Fear & Greed Index reading 89, which depicts extreme greed.
Many crypto enthusiasts have expressed varying opinions and sentiments regarding the potential trend of most assets. Recently, a renowned analyst, Leb Crypto, made a bullish forecast for XRP, predicting that the coin will reach $3.84, above its 2018 all-time high (ATH).
XRP To Surpass Previous ATH In The Current Crypto Market Cycle
In a recent tweet, Leb said he expects XRP to surpass its 2018 ATH of $3.84 before or immediately after the upcoming Bitcoin halving.
$xrp
Expecting 2018 ATHs to be taken out very soon (before or right after BTC halving).#xrp
Let me know in the comments what you think would follow that pump. pic.twitter.com/nw4AWNsmQI
— LE₿ C®️YPTO (@leb_crypto) March 13, 2024
Recall that XRP didn’t record a new ATH during the 2021 bull run like most coins did. Instead, it maintained its ATH of $3.84, which was recorded in 2018. However, Leb expects a different outcome in the coming market cycle, with XRP following a new bullish trend.
He believes the present bullish trend within the broader crypto market will form the foundation for XRP’s price rally. Further, Leb believes the ongoing market outlook suggests that Bitcoin could rally above $100,000 as the halving event approaches.
According to him, Bitcoin could set a new record high, posting a significant all-time high in the ongoing bull run. Such a massive bull run could rub off on altcoins, triggering a massive rally for coins like XRP and Stellar (XLM).
However, given its current price of $0.6198, XRP will need to rally 560% to reach the $3.84 mark.
Other Analysts Believe It’s Time For XRP’s Massive Rally
Besides Leb, other analysts shared the same optimistic opinion for XRP. Many have predicted a massive price surge for the token. Generally, several people agreed that XRP is due for a price increase.
Recall that the token missed the last market rally in 2021 due to the pressure from the Ripple vs.
SEC lawsuit that kicked off in late 2020. As a result of the regulatory pressure, several US trading platforms, including Coinbase and Binance, delisted XRP, leading to a significant decline in its market performance.
Moreover, XRP has not lived up to many investors’ expectations, as it hasn’t rallied as much as most crypto tokens in the ongoing bull market.
However, many within the crypto community believe Ripple’s native coin could display a significant price rally as the regulatory pressure drops. While some analysts anticipate that XRP will rise to $5.85, others project a higher price growth to $13 with some precautions.
However, given the inherently volatile nature of the crypto market, there is no certainty that XRP will meet such predictions. Moreover, there’s been a significant setback in the ongoing trend in the broader crypto market, with many assets, including Bitcoin, recording significant losses as of March 15.
This could be due to traders capitalizing on the bull run to take profits. XRP has dropped by over 6.45% within the last 24 hours, which aligns with the broader market outlook.