As a seasoned researcher with over two decades of experience in the financial markets, I have seen my fair share of bull and bear runs. However, the recent surge of XRP has caught my attention, particularly due to its significant increase in network activity.
TL;DR
- XRP surged to $1.44 with increased network activity signaling growing interest and potential for further gains.
- Analysts predict targets of $2 soon and over $4 by Christmas, driven by bullish momentum.
XRP’s Resurgence
Ripple‘s native currency has soared to new heights lately, reaching a three-year peak of $1.60 on November 23. However, in the subsequent days, it followed the general market trend and dropped, but the last 24 hours have been particularly positive.
At present, Ripple (XRP) is trading approximately at $1.44, marking a 10% growth over the past day. This significant surge places its market cap above $80 billion, thereby establishing XRP as the sixth-largest digital asset in the entire crypto market.
The resurgence aligns with significant improvements in various indicators associated with XRP. For example, daily XRP transfers surpassed 1.2 million on November 26, representing an impressive 85% increase within a day. Furthermore, the number of completed transactions on the XRP Ledger has seen a substantial surge as well.
This usually points towards heightened network usage and activity, which might suggest a growing curiosity about XRP. Such an increase could potentially lead to another surge in the value of the underlying asset.
Crypto X is buzzing with analysts who believe the bull market will persist in the upcoming months. The cryptocurrency expert, Dark Defender, predicts that if XRP manages to break through its current resistance at $1.44, it could potentially reach $1.63.
As a crypto investor, I keep a close eye on consecutive candle closes, particularly on the 4-hour chart. If I see three such closes in a row, it signals a potential run towards the $2 area, marking just the start of what could be an even more promising trend.
Mikybull Crypto holds the opinion that the price will rise to $2, whereas JAVON MARKS proposes a potential value of $99 for XRP if it replicates its historical performance.
It is important to note that the token’s market cap needs to skyrocket beyond $5 trillion for this to happen. Currently, the capitalization of the entire sector is less than $3.5 trillion, making the forecast quite challenging (to say the least).
New ATH Before Christmas?
Other analysts who foresee a prosperous future for XRP, such as CrediBULL Crypto and Crypto Assets Guy, also share this view. In fact, the former analyst recently proposed that the token’s value could potentially reach $1.60 under the condition that Bitcoin doesn’t disrupt the upward trend.
The second opinion was particularly optimistic, predicting that the price could surge to $2 by the end of November and set a new record high above $4 before Christmas. Additionally, they speculated that XRP might reach as high as $10 during the first three months of 2025.
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2024-11-27 20:46