Ripple has been making strides in the cryptocurrency industry with its latest innovations. This seems to be impacting the price of its very own asset, XRP. But the altcoin’s price was clearly more in sync with the overall market, the community expects to witness a change in its ecosystem. The asset has surged by over 111% throughout the last month. The real question is if XRP could mimic this uptick and reach a new high before the end of this year.
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XRP’s Latest Dip
Over the past 24 hours, the asset witnessed a major fall from a high of $2.71 to a low of $2.48. At press time, XRP was trading at $2.51 after recording a 1.40% drop throughout the last day. Unlike several other assets, XRP surged by a notable 10% over the past week.
Despite its latest rally, the altcoin is 34% below its all-time high of $3.84. The asset hit this peak back in 2018, which was about seven years ago. The closest price level that XRP has surged to is $2.86. In order to reach the $5 mark, the altcoin will need to rise by nearly 100% from its current zone.
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Year End Prediction
According to data from CoinCodex, it is anticipated that XRP will trade in a range between $1.926193 and $2.58 by the end of the year. This would mean that assuming the average price of $2.23 in December, the price of XRP dropped by -10.94% from today’s pricing. In other words, if XRP turns out as predicted, short sellers might make a potential profit of 23.24%.
The latest prediction reveals that XRP is quite far from reaching the $5 mark or even $3. The asset will take a while before recording a rally that would push it beyond its peak.
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