After enduring a massive crash recently, the cryptocurrency market was seen recovering. Several assets were pocketing all the gains that were lost during the past week. Ripple’s XRP was seen leading the rally with its double-digit rise. Despite this, the cryptocurrency continues to trade 48% below its all-time high. The altcoin rose to a peak of $3.84 back in January 2018. XRP’s latest surge has been pushing the community to expect more from the fourth largest cryptocurrency.
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How High Did XRP Rise In The Past 24 Hours?
Ripple’s XRP is one of the top performers of the day. At the time of writing, the altcoin was trading at $1.99. This comes after an 11.68% rise over the past 24 hours.
Similar to its latest price, XRP recorded a prominent rise throughout the past year as well. During the last year, the altcoin went from trading at a low of $0.3911 all the way to a high of $3.39. This represents a 227% rise during this period.
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Can $5.5 Become A Reality Soon?
In order to surge to a high of $5.5, XRP has to overcome several hurdles. This includes getting back above $3 and then pushing itself towards reclaiming its all-time high. The altcoin has to witness a 176.38% increase in its price to reach a peak of $5.5. This isn’t an impossible task for the asset, considering its past performance.
But data from CoinCodex highlights how XRP could take a while to reach this level. According to the firm, the altcoin will achieve this goal only during the end of 2028. The final quarter of that year is expected to be extremely bullish for XRP as the asset will trade at a maximum price of $6.09. While the community might have to wait for three more years, they could be registering notable gains.
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