With its market cap hitting the $149 billion mark, XRP has emerged as one of the strongest performers in the ongoing crypto bull market. After an explosive 283% gain in November, marking its biggest surge in seven years, the token is showing no signs of slowing down.
With XRP hitting a high of $2.90, many experts are now predicting it could soon hit $3 and possibly even surpass its all-time high.
What’s next for XRP? Keep reading to find out what analysts are saying about its future.
Crypto analyst EGRAG recently tweeted about XRP’s performance, noting that its recent price action shows a major shift in the market. After breaking through the $2 mark, XRP surged to $2.90 before stabilizing around $2.60.
Despite some short-term corrections, XRP has remained firmly above $2, showing strong resilience against market fluctuations.
EGRAG suggests that the $2 level could now become a new macro support, replacing the previous $0.50 support. This shift indicates that XRP has built a solid foundation for future growth, with bulls likely to defend this crucial level against significant pullbacks.
Historic Year-End Close?
EGRAG also hinted at the possibility of a historic yearly candle close for XRP in 2024. With the token already up 313% this year, he expects the positive momentum to carry into December, fueled by strong market sentiment.
Raoul Pal, a veteran market expert who was once a skeptic of XRP, has now shared a bullish outlook on the token. He pointed to XRP’s price chart, which is forming a large wedge pattern similar to the one seen before the 2017 bull run.
Back then, XRP surged by an astounding 5,600% after breaking out of the wedge, eventually hitting its all-time high of $3.31 in January 2018.
While Pal cautioned that the growth this time may not be as explosive, he remains optimistic that XRP could follow a similar path and possibly reclaim its previous highs.
XRP’s price surges to $2.9 will it keep climbing? Read our XRP price prediction to find out where it’s headed next!
As XRP continues to gain momentum, investors who bought below $2 are reaping the rewards. The next key resistance level for the token is $2.85, and if it breaks this, the price could rise to $2.95. From there, $3.00 and $3.15 are potential targets, with $3.20 being the next major challenge for the bulls.
With the market sentiment overwhelmingly bullish, the next few weeks could be critical for XRP’s long-term future. However, this rally is just the beginning, as XRP solidifies its position in the crypto market.
XRP is rising due to strong market sentiment, clear crypto regulations under Trump’s administration, Gary Gensler’s resignation, and the rumored appointment of Paul Atkins as SEC chair.
With XRP’s strong upward momentum, it may not be too late. Analysts predict it could hit $3 or higher, making it still an attractive option.
XRP is showing signs of continued growth, with key support levels established and a bullish outlook for the upcoming months, including potential new highs.
Given XRP’s strong performance and analyst predictions, it appears to be a solid investment with the potential for significant gains, especially above $2.
With XRP showing strong support above $2 and analysts predicting further gains, now could be a good time to buy, especially for long-term growth.
XRP certainly demands attention, doesn’t it? The road ahead promises even greater opportunities for those watching closely.
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