Popular Analyst Puts Solana At $1,000 And XRP At $7, Here's The Roadmap

A popular crypto analyst has predicted a massive increase for Solana and XRP, foreseeing both cryptocurrencies reaching new all-time highs in 2024. XRP and Solana 2024 Price Prediction Prominent crypto influencer Ben Armstrong has recently published a new crypto price prediction for XRP, the native token of the Ripple network and Solana (SOL).

Timeline of Solana, Xrp

XRP YouTuber Moon Lambo has hit out at those who believe that the XRP price could be worth $20,000 in the future. The analyst believes that this price level is unattainable for the crypto token as he highlighted reasons why he holds this belief.

The crypto market value plummeted by 6.8% to $1.7 trillion on Wednesday following a report by Matrixport regarding the likelihood of the Securities and Exchange Commission (SEC) greenlighting spot Bitcoin exchange-traded funds (ETFs). As Bitcoin price fell sweeping through liquidity at $40,000, Ripple (XRP) dived to $0.56, down 11% in 24 hours.

On Jan. 1, 2024, Ripple, the leader in corporate crypto solutions, executed its planned release of 1 billion XRP from its escrow accounts. This well-established practice, occurring every first of the month, saw three distinct transactions unfold, injecting a measured dose of liquidity into the cryptocurrency market.

Throughout 2023, XRP's value has experienced a volatile journey, oscillating between highs and lows. While it showed intermittent growth between September and November, December brought a slight uptick of 2.78%, hinting at a possible shift from a bearish trend.

With a lukewarm greeting of the New Year, Solana's price trend enters the year on a lateral indecisive note, putting a short break to the uptrend. Prolonging the consolidation range in the 4H SOL price chart, the trapped momentum may soon give a decisive breakout trend.

As we traverse into 2024, the trajectory of Solana becomes a pivotal question for the cryptocurrency market. A glance at the Solana chart reveals strong growth, followed by a recent phase of correction.

Google searches for “Solana” have achieved an unprecedented peak, escalating from a modest score of about 27 in late September to an impressive score of 100 as of December 20, as per data from Google Trends. This surge, measured on a scale of 0 to 100, signifies a remarkable 270% surge in search volume over a mere two or so months, underscoring a burgeoning interest in the blockchain platform.

Crypto analyst EGRAG crypto recently posted an analysis of the various scenarios for the price trajectory of XRP in the near future. XRP, like most top cryptocurrencies, has received many price predictions in the past few months, as the entire crypto market witnessed a consistent increase in activity throughout the fourth quarter of 2023.

In a recent courtroom showdown, Judge Rakoff delivered a crucial verdict favoring the SEC in its case against Terraform Labs. The ruling deemed Terraform Labs' digital assets, including the prominent UST, as unregistered securities, a significant win for the SEC.

Under CEO Jamie Dimon's leadership, JPMorgan Chase has recently been named as an Authorized Participant (AP) in BlackRock's Bitcoin Spot Exchange-Traded Fund (ETF). This development has sparked a flurry of discussions and reactions, particularly from figures in the cryptocurrency community, including pro-XRP lawyer John Deaton.