As a seasoned researcher with years of experience in the cryptocurrency market, I’ve witnessed my fair share of bull runs and bear markets. DonAlt’s prediction about XRP doubling in price if it breaks out of its current range is intriguing, to say the least. I remember when XRP was just a blip on the radar, and now it’s a major player in the market.
As per DonAlt’s foresight, he anticipates that the value of the token could potentially double once more if it successfully breaks free from its current price band, as he did accurately predict the massive XRP surge in November.
As a researcher delving into the world of pseudonymous cryptocurrency trading, I’ve come across an intriguing observation from one of the most widely followed traders in this space. This individual, boasting over 600,000 followers on X social media platform, has pinpointed a potential trading zone. The lower boundary of this zone appears to be around $2.20, serving as a support level, while the resistance level, where the price might encounter selling pressure, is estimated to be roughly $2.60.
Since early December, the token’s price has largely remained within this range, failing to reach a significant increase up to $3.
At press time, XRP is changing hands at $2.47 after adding 2.6% over the past 24 hours.
The digital currency linked with Ripple has regained its position as the third most prominent on CoinMarketCap, outpacing Tether (USDT) in a significant leap.
The token is surging in anticipation for the debut of Ripple’s eagerly awaited RLUSD stablecoin, as announced by U.Today. It appears that the San Francisco-based firm has made public their plan to make this stablecoin product accessible on major trading platforms starting from Tuesday.
Even though XRP saw a significant surge in November, as per DonAlt’s analysis, it might have even greater potential for growth if it successfully breaches the $2.60 resistance point. If this happens, the strong momentum could propel it further.
The buzz surrounding XRP ETFs could emerge as a new powerful bullish catalyst for the controversial token.
Currently, XRP is approximately 27.3% short of hitting its long-held record high that was set nearly seven years back.
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2024-12-16 23:17