---
title: "What Are Ripple’s (XRP) Chances to Chart a New ATH This Year?"
url: https://diffcoin.com/what-are-ripples-xrp-chances-to-chart-a-new-ath-this-year/
description: "\"Breaking the $0.70-$0.75 resistance is the key to a massive rally that's coming,\" one analyst said."
published: 2024-07-22
updated: 2024-07-22
author: "Mila"
site: "Diffcoin"
---

# What Are Ripple’s (XRP) Chances to Chart a New ATH This Year?

**TL;DR**

- Ripple’s XRP has surged 40% in two weeks, now trading above $0.60, with analysts predicting further gains up to $8 or more.
- Key metrics like daily transactions and open interest are up, indicating strong market participation, though some traders remain skeptical about a major rally.

## Where’s XRP Headed?

Ripple’s XRP has been on a tear as of late, with its price surging by 40% in the past two weeks. The last few days were quite turbulent for the asset which briefly plunged below $0.55 but later headed north again. Currently, it trades above the $0.60 mark while numerous industry participants expect much more impressive gains in the near future.

![XRP Price](data:image/svg+xml;base64,PHN2ZyB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciIHZpZXdCb3g9IjAgMCAxMDYyIDczMiIgd2lkdGg9IjEwNjIiIGhlaWdodD0iNzMyIiBkYXRhLXU9Imh0dHBzJTNBJTJGJTJGY3J5cHRvcG90YXRvLmNvbSUyRndwLWNvbnRlbnQlMkZ1cGxvYWRzJTJGMjAyNCUyRjA3JTJGWFJQLVByaWNlLTcucG5nIiBkYXRhLXc9IjEwNjIiIGRhdGEtaD0iNzMyIiBkYXRhLWJpcD0iIj48L3N2Zz4=)

XRP Price, Source: CoinGecko

X user Armando Pantoja claimed that investors had accumulated approximately 250 million XRP tokens since the start of June, envisioning a rise to as high as $8. He argued that surpassing the major resistance level of $0.70- $0.75 is the first obstacle in the long battle toward a potential new all-time high, even though that seems a bit far-fetched now.

JAVON MARKS was much more optimistic, believing that XRP could be “right on the brink of a massive bullish breakout.” The analyst thinks that “continued market strength” might be followed by a whopping rally toward the ridiculous mark of $150.

It is worth noting that such a valuation would require XRP’s market capitalization to explode to approximately $15 trillion. This seems quite unrealistic considering the fact that the total market cap of the entire crypto sector currently stands at around $2.5 trillion.

On the other hand, some traders cast doubts on XRP’s potential to experience a substantial price rally. Cyclop – an X user with over half a million followers – remarked that those who have invested $10,000 in the asset in September 2018 would still be sitting at the same amount nowadays. The analyst further placed XRP among the ten cryptocurrencies investors should avoid.

> “XRP is designed for fast and cheap international money transfers. But in essence, it is an unnecessary fork of BTC with overly inflated valuation,” the trader maintained.

## What Are Metrics Suggesting?

Important indicators related to Ripple’s native token have headed north lately, indicating a high level of market participation and solid investor interest. Such an example is the number of executed transactions on a daily scale which reached almost 5 million on July 19.

For its part, the XRP open interest recently spiked to a three-month high of over $600 million. The metric refers to the total number of outstanding derivative contracts, such as futures and options, that have not been settled. Its rise is usually a precursor of a violent move in any direction.

SPECIAL OFFER (Sponsored)  
  **Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance**  (full details).

**LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!**

[Source link](https://cryptopotato.com/what-are-ripples-xrp-chances-to-chart-a-new-ath-this-year/)