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Popular crypto analyst Jason Williams issues a less ambitious forecast for XRP, projecting that the coin will surpass the $3 mark in January.
The widely-followed market observer issued the prediction in a recent X post, where he set different price targets for top altcoins, like XRP, by January 1, 2025.
XRP to $3.1
According to the expert, XRP will trade at $3.10 on the first day of next year. Hitting this target requires a 24% surge from the current price of $2.5 over the next 13 days. While the growth rate is minimal, the expert did not highlight potential factors that could drive XRP to the $3.1 target.
At this target, XRP’s market cap will soar to $177.28 billion from the current valuation of $142.97 billion. This will also cement XRP’s position as the third-biggest cryptocurrency globally.
Besides XRP, Williams also forecasted that altcoins, such as Ethereum, Solana, Pepe, and Polkadot will trade at $5,325, $310, $1, and $20, respectively.
Potential Factors That Could Propel XRP Surge
Even though Williams did not mention what could push XRP to the $3.1 target, several factors might play significant roles in helping the coin achieve this feat.
They include positive developments relating to the ongoing SEC v. Ripple lawsuit, growing institutional interest in XRP, and the massive adoption of the RLUSD stablecoin.
Earlier this week, the market saw how the launch of RLUSD positively impacted XRP’s price, with the coin rising by nearly 9% to $2.56. This comes after XRP soared by over 20% following the New York Department of Financial Services (NYDFS) approval of the stablecoin.
Therefore, news about a major entity adopting the stablecoin or its listing on a major exchange like Binance could further boost XRP’s price.
XRP Preparing for a Major Breakout to $3
Meanwhile, popular crypto expert Zach Rector speculated that XRP will soon make another attempt toward hitting the $3 mark.
Another attempt at $3 coming up #XRP pic.twitter.com/TWtcoD1mS0
— Zach Rector (@ZachRector7) December 18, 2024
The forecast comes as XRP struggles to hit the $3 mark. The last time XRP traded above $3 was during the 2017/2018 bull run. It eventually soared to an all-time high (ATH) of $3.84 on January 3, 2018. It has failed to achieve this milestone ever since, with recent attempts ending in futility.
Earlier this month, XRP attempted to clinch the $3 target, as it soared to around $2.86 on December 3.
However, the coin encountered major resistance, pushing its price down to $1.90 a week later. Interestingly, XRP rebounded above the $2 mark, reaching $2.72 yesterday. Following the broader market correction, XRP retraced from this level to its current price of $2.5.
In the meantime, XRP’s trading volume has exploded by 54.25% over the past 24 hours to $19.23 billion. It is currently ranked as the third biggest crypto after usurping Tether (USDT) from the position this week.