After long years of muted performance, the The XRP price had recovered in 2024, close to an all-time high of $3.8, but still not quite on target. This comes after the legal battle with the US Securities and Exchange Commission (SEC) ended in 2024, triggering a wave of recovery.
However, since then, the XRP price seems to have reached a ceiling and has been in a downward trend for over a year. This has pushed the price towards $1, down more than 60% from its 2024 highs. Despite this, predictions continue to pour in that the price above $10 is only a matter of time, as XRP is still one of the most popular cryptocurrencies in the space.
The XRP dream has changed from $1
Crypto analyst Crypto Patel went to the X platform (formerly Twitter). explain where the investor mentality is now and how the dream seems to have changed. Referring to historical performance, the analyst recalls how the dream was for XRP to actually reach $1 when it was trading around $0.003 in 2017.
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In an interesting twist, the level that was every XRP holder’s dream at the time has now become a level that many complain about. However, instead of joining this line of complaints, Crypto Patel points out that even the current level is a big step up from the XRP price used to be.
Currently, it is above $1, meaning the XRP price has rallied over 37,000% from its lows. So what is seen as a decline can also be a cause for celebration, depending on the perspective from which investors look at it.
When should you start buying again?
With sentiment around the current level letting investors down, the crypto analyst is looking at lower levels to be able to accumulate the cryptocurrency again. The highest accumulation zone from here is at $1, which would be a drop of more than 10% from the price at the time of this report.
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Then the crypto analyst goes further down and believes that the XRP price may fall as low as $0.6. This would then put the accumulation zone between $0.6 and $1, meaning the bottom is expected to be reached around these two levels.
Nevertheless, the analyst says the $10 play remains intact even now. Usually it’s a matter of time and patience when it comes to how high the XRP price can go. But the long-term bullish narrative continues to prevail.
Featured image of Dall.E, chart from TradingView.com