As a seasoned cryptocurrency analyst with over a decade of experience in the financial markets, I find myself intrigued by the optimistic projections for XRP‘s price. Having closely followed the crypto space since its inception, I must admit that the volatility and unpredictability never fail to surprise me.
On Thursdays, cryptocurrency values recovered, with Bitcoin holding steady above $100,000. The XRP price regained momentum, leading some analysts to remain hopeful that it could still climb higher. Now, the question is: When might the Ripple price surge back up to its record peak?
Crypto Expert Believes XRP Price May Hit ATH In December
Enthusiastic cryptocurrency experts predict a bright future for XRP’s value. As previously noted on Wednesday, a prominent crypto expert anticipates a significant increase in the Ripple price, potentially reaching $5 in the short term, and further soaring to approximately $18 in the long run.
In another post on Good Mornin Crypto, a widely followed user with close to 35,000 followers, anticipates that the value of the coin will reach a new peak this month. He referenced the monthly chart, indicating that the XRP coin is nearly at the point of reaching its previous high.
Analyst Amonyx, known for his popularity within the crypto community, forecasted a potential surge in XRP’s value, predicting it could reach an impressive peak of around $20.
On Thursday, XRP’s price was set at $2.4, which represents a potential increase of approximately 40% to reach its peak value of $3.32. Given its past performance, such a significant surge is not entirely out of the question. For instance, in November alone, it experienced a staggering rise of nearly 500%.
Additionally, Ripple may experience a bullish surge due to several positive factors. Specifically, Ripple Labs has been given the green light to introduce the RLUSD stablecoin, which could debut as early as this month. This new coin will work alongside XRP in facilitating international transactions.
The Trump administration’s tenure might be advantageous for Ripple as well, given a couple of possibilities. First, the legal battle between Ripple and the relevant agencies could come to an end, which is currently ongoing. Secondly, there’s speculation that Ripple Labs might opt for an Initial Public Offering (IPO) in 2025.
Ripple Can Hit ATH In December
As an analyst, I’m observing a potentially robust bullish breakout in the price of Ripple. The most compelling evidence for this is the formation of a bullish flag chart pattern, which is quite uncommon and historically indicates further upward momentum.
A bullish flag is made up of two key parts: a vertical line (pole) and a flag, which often is rectangle in shape. XRP has also formed a hammer candlestick pattern, a popular reversal sign.
The digital currency XRP continues to stay above its 50-day moving average, suggesting a potential upcoming bullish surge as investors aim for this year’s peak. This upward trend might be validated if the coin surpasses the current year-to-date high of approximately $2.90.
Conversely, if the price falls below the lower boundary of the hammer pattern at $1.90, it would contradict the bullish outlook. This could lead to Ripple experiencing a reversal and potentially dropping towards its 200-day moving average at approximately $0.87.
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2024-12-12 16:40