XRP, the native token created by Ripple Labs, has had a rocky start to 2024. Despite hopes of a new bull market, the token has fallen over 11% in the last 30 days.
However, some analysts remain bullish on XRP’s long-term potential. A new analysis from the crypto platform Changelly suggests the token could reach a triple-digit price of $413. Here’s when.
XRP Struggles to Build Momentum
XRP currently trades around $0.5229, falling below its 50-day and 200-day simple moving averages. This indicates bearish sentiment in both the short and long term. The token’s relative strength index (RSI), a momentum indicator, shows “extreme weakness” at 34.78, according to Changelly.
However, the low RSI suggests that XRP could be primed for a trend reversal. Indeed, Changelly predicts a 22% price surge to $0.68 within two days.
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2040 Target: $413 Price
While Changelly’s near-term prediction is fairly tame, its long-term outlook for XRP is far more dramatic. Analysts predict the token could reach $10.37 by 2031 and eventually surge to $413 by 2040.
When asked a similar question, Google’s new AI chatbot, Bard, presented two scenarios. Coincidentally, Bard’s optimistic scenario also pinpoints 2040 as the year XRP could reach $412. However, Bard noted that regulatory changes and other variables could push that target to 2050 or even 2070.
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The Path Ahead
Analysts disagree on how long it might take the token to climb to triple-digit valuations. Nonetheless, predictions of four-figure XRP prices underscore long-term confidence in the asset among some crypto industry experts.
Of course, accurately forecasting prices 16+ years into the future is exceptionally difficult. XRP would likely need a perfect confluence of events to reach $413 by 2040. However, crypto has matured at unprecedented speeds historically. While $413 for the token may seem unrealistic today, a lot can happen over the next two decades to shift market dynamics.
For now, traders await February’s close to see if XRP can stage any sort of rebound. However, 2040 may finally prove to be “the year of XRP.” Only time will tell whether analysts’ ambitious long-term forecasts come true.
