XRP Price Prediction: What’s Behind the 297% November Rally?

Last month was a game-changer for XRP. In just 30 days, its price skyrocketed from $0.51311 to $1.95710—a massive 281% increase. This sudden surge raises an important question: what does the future hold for XRP, one of the most debated cryptocurrencies?

Let’s take a closer look.

November’s Strong Performance

XRP grabbed the spotlight in November, outperforming almost all other top cryptocurrencies. With a 297% rise—the highest monthly return since December 2017—it’s clear the asset is showing serious potential. Just a month ago, it was seen as a “partly filled” project, but now, it’s at the forefront.

At the beginning of November, XRP was priced at $0.51311, and there were no obvious signs of the impressive growth to come. However, as the U.S. election started to shift in favor of pro-crypto leader Donald Trump, XRP began its ascent. By December 1, it had nearly reached the $2 mark.

Can XRP Keep Climbing?

XRP’s upward momentum seems to be unstoppable. During November’s rally, it only faced two minor corrections, showing little resistance. But how high can XRP go? Some analysts are predicting bold targets—ranging from $6.60 to even $10.

However, not all predictions are based on solid reasoning. Jacob Canfield’s $6.60 target stands out because it’s backed by a clear rationale, using Fibonacci extensions and comparisons with Bitcoin’s 2017 performance.

Who’s Fueling the Growth? Retail Investors or Whales?

Both retail investors and whales are playing a role in XRP’s surge. Whale accounts, in particular, have been accumulating significant amounts of XRP. A recent report shows that whale investors bought 679.1 million tokens worth $1.6 billion in just three weeks. At the same time, new retail investors are also entering the market, adding strength to the rally.

Aiming for a Historic Close

XRP’s price jumped 15.1% in the last 24 hours. As it pushes toward key resistance levels, the next few days will be critical. Many XRP supporters believe the token can close the year above $1.99, marking its highest yearly close ever.

With its recent performance, XRP’s future looks promising. The next steps will be closely watched by investors and analysts alike.

FAQs