XRP, the native cryptocurrency of the XRP Ledger, saw a slight 0.08% price decline over the past 24 hours to $0.5109 per coin. With a market capitalization of $27.17 billion, XRP remains one of the top cryptocurrencies by market cap. Let's take a closer look at the key metrics and trends for XRP to gain insights into where the price may be headed next.

Over the past hour, XRP's price has remained relatively flat, increasing by just 0.03%. This indicates stabilization and consolidation after the past day's minor decline. Trading volume over the past 24 hours totaled $297.66 million, suggesting adequate liquidity.

Zooming out, XRP has seen mostly sideways price action over the past week, with a modest 2.63% gain. This comes after a difficult summer for the cryptocurrency markets, in which XRP declined 2.48% over the past month. However, looking at the bigger picture, XRP has surged 19.81% over the past 6 months, outperforming Bitcoin and many other major cryptocurrencies.

What's Behind XRP's Recent Price Action?

XRP's lackluster price performance over the past month can be attributed to broader weakness in the cryptocurrency markets. Concerns over inflation, rising interest rates, and a potential global economic slowdown have weighed on speculative assets like cryptocurrencies. Additionally, the recent collapse of major crypto firms like Celsius Network and Three Arrows Capital has led to risk aversion among investors.

However, XRP has held up relatively well compared to the overall market, thanks in part to its diversified use cases beyond just a speculative investment. The XRP Ledger and associated technologies continue to gain adoption for cross-border payments, NFTs, DeFi, and central bank digital currencies. Just this past week, XRPL Labs received funding to support central bank CBDC projects using XRP.

What's the Future Outlook for XRP?

Looking ahead, I expect XRP will continue to outperform the broader crypto market over the next 6-12 months. Here are some of the key factors that could fuel an XRP price surge:

• Increasing real-world adoption: Ripple, the company behind XRP, continues to onboard new financial institutions to its global payments network that leverages XRP. These partnerships are key to driving long-term, sustainable demand for XRP.
• Regulatory clarity: The ongoing SEC lawsuit regarding XRP's security status has been an overhang on price, but a resolution could remove uncertainty and attract institutional investment. A settlement would likely involve XRP being classified as a non-security.
• Technical breakout: XRP has formed a solid base of support around the $0.50 level and is coiling for a major technical breakout and trend reversal. The cryptocurrency looks oversold from a momentum standpoint.
• Macroeconomic recovery: As inflation eventually comes under control and economic conditions improve, investors will likely rotate back into digital assets. XRP stands to benefit as money flows back into the crypto sector.

Overall, I expect XRP could surge to test its all-time high around $3.30 within the next year, representing potential upside of over 500% from current levels. Patience will be key, but the long-term investment thesis for XRP remains intact.

How Can You Take Advantage of XRP's Future Growth Potential?

XRP presents an intriguing investment opportunity given its strong fundamentals and discounted price. Here are two ways traders and investors can position themselves to profit from XRP's next rally:

Should You Buy XRP Now While It's Still Below $1?

With XRP trading 67% below its all-time high, many crypto investors are wondering if now is the ideal time to buy the dip before the next major bull run. There are compelling arguments on both sides.

On the bullish side, XRP appears significantly undervalued relative to its potential. Increased adoption of Ripple's payment network and resolution of the SEC lawsuit could act as catalysts to propel XRP back toward its highs. The technical setup is also attractive, with XRP bouncing off key support levels.

However, investing at current levels is not without risk. The crypto bear market may persist for some time, delaying XRP's recovery. And if Ripple loses the SEC lawsuit, XRP could face heavy selling pressure. Regulatory risk remains a persistent headwind.

Overall, dollar cost averaging into a long-term XRP position seems prudent. Investors should scale in on price weakness rather than going all-in. With patience and discipline, buying XRP below the $1 threshold could pay off handsomely down the road. But it's critical to manage risk and invest based on one's own research.

Is XRP Still a Good Long-Term Investment After Declining 90% From Its High?

Despite its steep decline from its peak, XRP still has compelling qualities that make it a worthwhile long-term investment at today's prices. The key factors are its widespread utility, deep liquidity, and the continued expansion of RippleNet.

As one of the most utilized digital assets for global payments, XRP facilitates fast, low-cost transactions between different currencies. RippleNet leverages XRP to enable banks and financial institutions to transact directly. With trillions of dollars in cross-border payments done annually, RippleNet has an enormous addressable market.

Additionally, XRP remains one of the most liquid crypto assets, with robust trading volume. This enhances its usefulness for large-scale transactions. And the XRP Ledger continues to evolve with new capabilities and integrations.

For patient investors with a multi-year time horizon, XRP bought at a discount today could deliver substantial upside if adoption continues growing. While risks exist, XRP has key strengths that make holding a position as part of a diversified crypto portfolio worthwhile.