XRP prices in 2024 will depend on the outcome of the legal case between Ripple and the SEC, as well as other factors like the potential of a new ETF and Ripple's RLUSD stablecoin project.
XRP Price Range and Legal Environment Impact
According to Bitget's chief analyst Ryan Lee, XRP's price is expected to fluctuate between $0.50 and $0.80 throughout 2024. This is due to the ongoing lawsuit between Ripple and the SEC. The SEC's recent appeal added pressure to the market, although it does not challenge the ruling that XRP is not a security.
Legal Uncertainty and Ripple's Future
The legal proceedings between Ripple and the SEC could extend into 2025, having lasting effects on XRP’s price. A court ruling in favor of Ripple is anticipated to lead to a significant price increase. Conversely, a ruling against Ripple could push prices below $0.50.
Other Factors Influencing XRP's Price
The prospect of an XRP-based exchange-traded fund (ETF) could also act as a catalyst for price increases. Meanwhile, Ripple's new stablecoin project RLUSD could positively impact XRP's price, especially if XRP becomes a pivotal part of this ecosystem.
Ripple's legal battle with the SEC, along with potential developments like an XRP ETF and the RLUSD project, will significantly shape XRP's price in the coming months.