XRP, whether you like it or not, is a big deal in the crypto world. It’s been in the top five cryptocurrencies for over 10 years, holding its ground. Ripple, the company behind XRP, has been in a legal battle with the US Securities and Exchange Commission (SEC), affecting XRP’s price. While Ripple has had some legal wins recently, XRP’s price in December hasn’t seen much action, going up by just 2% from $0.61 to $0.63.
In a recent video by Jungle Inc, the analyst opened up about XRP’s performance in 2023 and discussed potential developments for 2024, taking into account the broader crypto market. Despite a humorous reference to Santa delivering a “lump of coal” in terms of price appreciation, the video pointed out the significant strides made by XRP throughout the year.
What’s Next for XRP Price?
The analysis touches upon key events, such as Ripple’s legal victory providing legal clarity for XRP and the $200 million spent to establish its non-security status. The ability for investors to directly buy XRP on major US exchanges is highlighted as a game-changer for the cryptocurrency, potentially contributing to a more successful 2024.
The video discusses upcoming developments for XRP, including the implementation of the Ammendments (AMM) on the XRP Ledger, stable coins, and Bridges. These upgrades are expected to enhance the overall ecosystem, making it versatile for various use cases.
Looking ahead, the analyst anticipates significant moves from Ripple in 2024, including potential acquisitions and diversification of business streams as the company gears up for an IPO in 2025. Additionally, the video expresses optimism about the potential settlement with the SEC or the initiation of crypto regulations, stressing their bullish impact on the market.