Solana

Bitcoin

Daily

<div class="finbold">
 <p class="paragraph">Despite ongoing legal troubles, blockchain firm Ripple recorded <a rel="noopener noreferrer nofollow" title="impressive" href="https://thebittimes.com/tag/impressive.html">impressive</a> <a rel="noopener noreferrer nofollow" title="growth" href="https://thebittimes.com/tag/growth.html">growth</a> in the first quarter of 2024, hitting several milestones.</p>
 <p class="paragraph">According to the results report released by Ripple on May 17, XRP spot volumes surged 40% from Q4 2023 to reach $865 million in Q1 2024. Daily average XRP derivatives open interest also increased, rising to $500 million from $460 million in Q4 2023.</p>
 <figure class="wp-block-image aligncenter size-large"><img decoding="async" width="1024" height="631" src="https://cdn.thebittimes.com/images/2024/05/19/10eb82ccb9c7612d00c6ebc2a441d477.webp" alt class="wp-image-176768" srcset="https://cdn.thebittimes.com/images/2024/05/19/10eb82ccb9c7612d00c6ebc2a441d477.webp 1024w, https://cdn.thebittimes.com/images/2024/05/19/10eb82ccb9c7612d00c6ebc2a441d477.webp 300w, https://cdn.thebittimes.com/images/2024/05/19/10eb82ccb9c7612d00c6ebc2a441d477.webp 768w, https://cdn.thebittimes.com/images/2024/05/19/10eb82ccb9c7612d00c6ebc2a441d477.webp 1058w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>XRP spot traded volume for Q1 2024. Source: Ripple</em>
  </figcaption>
 </figure>
 <p class="paragraph">On-chain transactions grew by 108%, climbing to 251,397,881 from 121,031,713 recorded the previous quarter. Additionally, XRP burned for transaction fees rose by 101%, from 317,271 in Q4 2023 to 636,184 in the first quarter of 2024.</p>
 <div class="border border-red-300 rounded-xl p-6 not-prose mb-6">
  <h3 class="text-2xl font-black mt-0 flex gap-x-3 mb-5">
   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
    </path>
   </svg> Picks for you</h3>
  <div class="grid md:grid-cols-2 gap-x-10 gap-y-3 md:gap-y-5 divide-y divide-gray-300 md:divide-y-0">
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    2 cryptocurrencies to reach $50 billion market cap in the first half of 2024 <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    We asked ChatGPT-4o what will be Solana <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> at the end of 2024; Here’s what it said <span class="self-center text-xs text-slate-500">4 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Bitcoin surge incoming? Tether mints another $1 billion USDT&nbsp; <span class="self-center text-xs text-slate-500">4 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Short squeeze alert: This cryptocurrency could skyrocket next week <span class="self-center text-xs text-slate-500">4 hours ago</span>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <p class="paragraph">These results potentially highlight the strength of Ripple’s underlying business despite the company’s legal battle with the Securities and Exchange Commission (SEC). These positive metrics are likely to influence XRP’s valuation, potentially impacting its <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> trajectory.</p>
 <p class="paragraph">Currently, XRP is holding the $0.50 support zone, largely remaining in a consolidation zone below $0.60. Investors are keenly watching for catalysts that could help the token rally to the coveted $1 mark.</p>
 <h2 class="wp-block-heading" id="h-xrp-price-prediction">XRP price prediction</h2>
 <p class="paragraph">In examining the XRP <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> <a rel="noopener noreferrer nofollow" title="prediction" href="https://thebittimes.com/tag/prediction.html">prediction</a>, Finbold consulted the <em>CoinCodex </em>tool, which uses AI-powered machine-learning algorithms for <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> projection.&nbsp;</p>
 <p class="paragraph">According to data retrieved on May 18, the tool projected that XRP is likely to experience bullish momentum and trade at $0.66 by May 31, representing an upside of over 26% from XRP’s current price.</p>
 <figure class="wp-block-image aligncenter size-full"><img decoding="async" width="973" height="430" src="https://cdn.thebittimes.com/images/2024/05/19/fec24e5f3d81353249b5fd5dc430f2e3.webp" alt class="wp-image-176769" srcset="https://cdn.thebittimes.com/images/2024/05/19/fec24e5f3d81353249b5fd5dc430f2e3.webp 973w, https://cdn.thebittimes.com/images/2024/05/19/fec24e5f3d81353249b5fd5dc430f2e3.webp 300w, https://cdn.thebittimes.com/images/2024/05/19/fec24e5f3d81353249b5fd5dc430f2e3.webp 768w" sizes="(max-width: 973px) 100vw, 973px">
  <figcaption class="wp-element-caption"><em>XRP price prediction. Source: CoinCodex</em>
  </figcaption>
 </figure>
 <p class="paragraph">Meanwhile, crypto analyst <em>Egrag Crypto</em> noted in a May 18 X post that XRP is poised for sustained bullish momentum in the coming days. According to the analyst, XRP is facing the “final wake-up line,” which saw the token break out in July 2023 but failed to reach the anticipated heights.</p>
 <p class="paragraph">The trading expert highlighted a new development: a white triangle pattern incorporating highs from 2021, introducing the “genuine wake-up line.” Consequently, the expert predicted a breakout around $1.50, with a more ambitious target of $7.50.</p>
 <figure class="wp-block-image aligncenter size-full"><img loading="lazy" decoding="async" width="680" height="283" src="https://cdn.thebittimes.com/images/2024/05/19/b73b396d3f10df46a665c0ac36e8780b.webp" alt class="wp-image-176770" srcset="https://cdn.thebittimes.com/images/2024/05/19/b73b396d3f10df46a665c0ac36e8780b.webp 680w, https://cdn.thebittimes.com/images/2024/05/19/b73b396d3f10df46a665c0ac36e8780b.webp 300w" sizes="(max-width: 680px) 100vw, 680px">
  <figcaption class="wp-element-caption"><em>XRP price analysis chart. Source: TradingView/Egrag Crypto</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="h-xrp-price-analysis">XRP Price Analysis</h2>
 <p class="paragraph">In the short term, XRP is experiencing bearish sentiments, having corrected by almost 1% in the last 24 hours to trade at $0.52 at press time. However, on the weekly chart, XRP is up 3%.</p>
 <figure class="wp-block-image aligncenter size-full"><img loading="lazy" decoding="async" width="675" height="550" src="https://cdn.thebittimes.com/images/2024/05/19/884538fccaa40797f35d8d4ff4d42b65.webp" alt class="wp-image-176771" srcset="https://cdn.thebittimes.com/images/2024/05/19/884538fccaa40797f35d8d4ff4d42b65.webp 675w, https://cdn.thebittimes.com/images/2024/05/19/884538fccaa40797f35d8d4ff4d42b65.webp 300w" sizes="(max-width: 675px) 100vw, 675px">
  <figcaption class="wp-element-caption"><em>XRP seven-day price chart. Source: Finbold</em>
  </figcaption>
 </figure>
 <p class="paragraph">Overall, XRP can sustain the bullish projection if it holds above the $0.50 support zone.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em>&nbsp;The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/xrp-price-prediction-for-may-31-as-ripple-records-q1-impressive-growth-tbt88789.html">https://thebittimes.com/xrp-price-prediction-for-may-31-as-ripple-records-q1-impressive-growth-tbt88789.html</a></p>

XRP price prediction for May 31 as Ripple records Q1 impressive growth

Table of Contents

TheBitTimes

Other articles published on May 18, 2024

Top Altcoins For 100% Profits Coming Week!

Token Unlocks Influence Crypto Prices

Mastercard Integrates Blockchain with Startups

Kabar Terbaru Crypto Presale BlastUP

Ripple’s Regulatory Wins Ignite XRP Rally Hopes: Expert Eyes Breakout, Highlights Key Price Indic...

Boomer Price Prediction: BOOMER Soars 17% As The WienerAI Presale Zooms Past $2 Million Raised

Join our free newsletter for daily crypto updates!