As a crypto investor, I’m thrilled to note that the price of XRP is currently bouncing back strongly, surging more than 7% on Christmas Eve. Based on various analyses I’ve reviewed, it seems that XRP might be aiming for a rally towards its annual peak of $2.91.
XRP Price Eyes Current ATH Following Latest Pump
Looking at current trends, the price of XRP appears poised for an uptick towards its all-time high (ATH) after recording a 7% surge on Christmas Eve. As per crypto analyst Javon Marks, this upward momentum is supported by a hidden bullish divergence seen in XRP’s 4-hour chart.
He added that this suggests that XRP could recover over 30% to its 2024 high of $2.91, which could be on the horizon. The crypto analyst added that a continuation of this uptrend can lead to a new all-time high (ATH).
Mark feels certain that this anticipated surge in value will happen more a question of “when” rather than “if.” Given this expectation, large investors (known as ‘Whales’) in Ripple have amassed approximately 40 million XRP, which adds to a positive forecast for the cryptocurrency market.
Crypto analyst CrediBULL Crypto also provided a bullish outlook for the XRP price. He stated that the XRP/BTC chart looks absolutely “fantastic.” He suggested that a parabolic rally was on the horizon while revealing that he was looking to open another long position.
The crypto analyst added that XRP’s chart is still the most bullish looking in the entire space off the lows. He believes that the crypto is just a “powder key building pressure.”
Double Bottom Pattern Adds To Bullish Sentiment
According to a recent analysis by CasiTrades on their X-related post, the XRP price appears to have shaped a double bottom pattern while moving near significant Fibonacci support zones. Additionally, the analyst predicts that XRP could be experiencing a surge in positive momentum.
However, she warned that the crypto is still under $2.38, meaning that it is still technically within this recent price correction. As the Relative Strength Index (RSI) and price climbs, CasiTrades noted that the structure looks promising and that XRP is still on track for the wave, pushing toward D targets around $2.60.
As an analyst, I’ve observed from my analysis that the potential price of XRP could hit the Wave D target by December 26th. Therefore, it seems there is still ample time for this cryptocurrency to reach its predicted target.
According to a comprehensive study by CoinGape, it’s predicted that XRP could potentially climb to double-digit figures and reach $10 in the future. This optimistic outlook is based on factors like the development of the RLUSD stablecoin and the possibility of resolving the ongoing Ripple vs SEC lawsuit, which may boost investor confidence.
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2024-12-24 21:57