Will XRP reach a new all-time high in 2024? Forecasts and opportunities for 2024 from a financial expert's perspective.

Will XRP reach a new all-time high in 2024? Forecasts and opportunities for 2024 from a financial expert's perspective.

According to a report by bitcoin-2go.de,

After a positive year in 2023, XRP investors expect a new all-time high in 2024. Improvements in the macro and microeconomics at least suggest a growing price. But critics of the Ripple currency also believe that inflation is too high, as maximum supply is not expected to be reached until 2027. XRP reached its previous all-time high in January 2018 at $3.84.

It is obvious that expectations for 2024 are high. Hopes for a new all-time high are growing after Ripple has already achieved great success in 2023. The establishment of its own Bitcoin Spot ETFs in the USA and the expected mass adoption could increase demand for XRP and lead to new profits. In addition, an improvement in the legal situation in Latin America is expected, especially in Brazil.

In terms of inflation, XRP was unable to reach its all-time high of $3.84 in the 2021 bull market, peaking at around $1.76. Some cryptocurrency proponents see the ongoing US Securities and Exchange Commission lawsuit as a limiting factor. Expectations for a new bull rally are high after Ripple won the legal battle in July 2023. However, critics fear that the high inflation rate of 7.45 percent per year could hinder the achievement of a new all-time high.

Nevertheless, XRP has recorded an increase of 80 percent in the last year and is currently trading at $0.61. Cooperations with financial service providers and new partners, as well as the integration of XRP with Mastercard, could lead to further price gains.

It remains to be seen whether the positive developments will lead to XRP actually reaching a new all-time high in 2024. The financial industry is certainly looking forward to further developments.