The Dogecoin bull run escorted many altcoins in the crypto space towards the bullish trend including Ripple XRP. The XRP price also surged close to $0.7 but a pullback was imminent. At present, XRP is attempting to break out the channel within which it is trending post the plunge.
The market sentiments are extremely bullish with the XRP price as many believe the price may hit $1 very soon.
XRP Price Analysis
XRP price today is $0.665399 USD with a 24-hour trading volume of $33,916,645,617 USD. XRP is up 49.40% in the last 24 hours. The current CoinMarketCap ranking is #3, with a market cap of $30,211,773,448 USD.
Analyst Bullish Prediction
Surprisingly, one of the analysts Crypto Bull has predicted the price may touch $10 to $20 by next month, January 2021, and later in 2021, the price may hit $100.
The reasons the analysts think $1 XRP price is imminent is,
- XRP charts and previous fractals
- Social, economic and monetary circumstances
- Unprecedented exposure of and demand for fixed assets.
However, the crypto masses are a little sceptical as the XRP chart need to possess a similar fractal during the previous bull rally to hit the target.
Collectively if the price has to hit $1 before the end of 2020 as predicted by the analyst, then the similar fractals during the bull rally of XRP need to repeat. It may happen as the market sentiments and the technicals both are extremely bullish.