- A crypto analyst in a recent post predicts a 2500% pump in XRP’s price by 2024.
- The analyst referenced similarities between XRP’s former bull run and its possibility in 2024.
- XRP records a whopping 97% increase in its trade volume after registering over $1.2 billion.
Crypto analyst and long-term XRP advocate Egrag Crypto, in a recent post on X, said XRP could hit a bull run in 2024 that would surpass previous all-time highs. According to the post, the analyst predicted a possible 2500% pump in XRP’s price in coming years.
Using price actions between 2014 and 2018, the analyst noted the similarities between that time before the token rallied and now. Per the post, the price chart shares similarities and points to a period after 2024 as the next bull rally for XRP.
Should the price of the token see a 2500% pump, it would surpass all previous all-time highs ever recorded by the token. At the time of press, XRP is changing hands at $0.4731 apiece, according to data from CoinMarketCap.
While the token’s price declined by 2% in the previous 24 hours, the trade volume recorded a whooping 97% bump after registering over $1.2 billion. The token has a total market cap of $25 billion and sits as the 6th-ranked cryptocurrency in the world by market cap.
Meanwhile, a prominent figure in the XRP community recently said 2023 will not be a good year for the token. According to him, the various macroeconomic factors that have affected both the crypto and traditional market will make its recovery impossible.
Elsewhere, Ripple vs SEC legal battle continues, with the regulator now accusing the company of slowing down the lawsuit. As earlier reported, the SEC alleged Ripple intends to prolong the case so as to continue selling XRP.
The legal tussle, which started nearly three years ago, culminated in a partial victory for Ripple this July. But now, SEC wants that partial victory which ruled that not all XRP sales are securities appealed.
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