News View Non-AMP

XRP Price Breaks Out: $3.4 in Sight After Multi-Year Rally

Published by
Qadir AK

As the total crypto market cap nears the $4 trillion mark for the first time since Satoshi Nakamoto’s era, Ripple Labs’ XRP has been in the limelight for an impressive performance. The utility-based altcoin led the top 20 crypto projects with more than 10 percent gain to trade at about $2.64 on Tuesday, December 17, during the mid-New York session.

As a result, the large-cap altcoin, with a fully diluted valuation of about $265 billion and a daily average traded volume of about $21 billion, is only 21 percent away from retesting its all-time high (ATH) set in January 2017. Moreover, XRP price has already broken out of a multi-year symmetrical triangular consolidation following an impressive rally of over 420 percent in the past two months.

What Next for XRP Price?

After being trapped in a bearish consolidation in the past two weeks, the XRP price has broken out of a falling channel in preparation for a fresh bull rally. According to legendary trader Peter Brandt, XRP price has finally broken out of a bullish flag, signaling the onset of a rally toward an all-time high.

From a technical analysis standpoint, XRP price is aiming at $3.4 next, which coincides with the daily 0.618 Fibonacci Extension. However, the XRP price in the daily time frame must consistently close above the resistance level of around $2.6 to confirm a rally toward the ATH.

Ripple’s Robust Fundamentals

Ripple has grown over the years to a major blockchain payment company focused on cross-border space. In a bid to complement XRP’s utility in cross-border payments, Ripple has launched its much-hyped fiat-backed stablecoin dubbed RLUSD to compete with existing leaders led by Tether’s USDT and Circle’s USDC.

The developments on the XRPL have significantly bolstered the mainstream adoption of XRP. Moreover, Ripple’s core developers intend to enable multi-chain smart contract compatibility for the XRPL network by next year.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Recent Posts

Crypto Market Slows Down As Fed Rate Cut Expected In September

Bitcoin is hovering near $103,700. There is growing uncertainty in its price action as global…

June 21, 2025

ETH Sell Off Surge! Who Is Selling Ethereum?

Ethereum is currently trading at $2442.32, down over 4% in the past day. In the…

June 21, 2025

Polkadot Price Prediction 2025, 2026 – 2030: Will DOT Price Cross $10?

Story Highlights The live price of the Polkadot crypto token is . Polkadot price can…

June 21, 2025

Binance (BNB) Price Eyes $700 as Maxwell Hard Fork Sparks On-Chain Boom

The BNB price chart may have been relatively quiet since mid-May, but the data from…

June 21, 2025

Shiba Inu Price Prediction 2025, 2026 – 2030: Will SHIB Price Hit $0.00005?

Story Highlights The live price of SHIB memecoin is SHIB token price could reach a…

June 21, 2025

Solana Price Prediction 2025, 2026 – 2030: SOL Price Targets $500 Next?

Story Highlights Solana Price Today is . Solana coin price could reach a potential high…

June 21, 2025