Can XRP Price Hit $10?

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As a seasoned researcher with over a decade of experience in the crypto market, I’ve seen my fair share of bull runs and bear markets. While the current market may be causing jitters for some, I find myself intrigued by Ripple‘s (XRP) performance amidst Bitcoin‘s downturn.

As a researcher delving into the dynamic world of cryptocurrencies, I find myself intrigued by the resilience displayed by Ripple (XRP). Despite the broader crypto market witnessing a downturn with Bitcoin plummeting 15% from its record high, XRP appears to buck the trend. Although XRP has experienced a dip of 28% between December 17 and 20, from a technical perspective, it exudes immense power. This sparks my curiosity: could the price of XRP surge tenfold from its current $1 level and reach a target of $10? In this article, we will explore that very possibility.

Will XRP Price Touch $10 This Bull Run?

If XRP’s price needs to reach $10 from its current value of $2.25, it would require an increase of approximately 345%. Given the current market volatility, it’s plausible that Ripple’s price could potentially reach a $10 target. The introduction of Ripple’s RLUSD stablecoin and various partnerships significantly boost this likelihood, particularly if Bitcoin avoids an extended crash.

XRP Tecnical Analysis: Can Ripple Hit $10?

In the year 2024, I’ve witnessed an incredible surge in the value of XRP. By the end of this period, it had soared an astounding 365%, reaching a multi-year high of $2.90. Remarkably, from October 25 to December 3, its growth was even more extraordinary, climbing 498%. This exponential increase has sparked significant interest in XRP, a digital token primarily used for remittances.

Because of the display of power, investors and speculators are convinced that the price of XRP may continue to rise significantly during this ongoing bull market.

To elaborate, the price trend of XRP from November 3 to December 23 resembled a “bull flag” setup. During the initial period between November 3 and December 3, XRP experienced an impressive surge, increasing by approximately 450%. This significant rise is often referred to as the ‘flagpole’. Subsequently, Ripple started consolidating its gains, forming a pattern characterized by lower highs and lower lows, which represents the ‘flag’ part of this bullish setup.

A “Bull Flag” is a chart pattern indicating an upcoming bullish trend, or rise in price. This pattern predicts that the increase will be approximately as high as the pole (the upward movement preceding the consolidation) following a successful breakout towards higher prices.

According to the given forecast, if you measure from the base of the flagpole to the top where the flag is flying, it reaches approximately $10. In a similar way, if the XRP price follows the ‘bull flag’ pattern as depicted in the chart below, theoretically, its value could potentially reach $10.

As a crypto investor, if Bitcoin’s downward trend persists and it falls below the $90K mark with a weekly candlestick close, this bear market could have a detrimental effect on XRP. In such a scenario, Ripple might invalidate its bullish flag setup, leading to a possible correction towards the support levels of $1.5 and $1.

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2024-12-24 12:11