XRP Price Analysis: Is $2 Target Achievable in the Next 3 Months?
2024-11-25
Bittime - XRP seems to have emerged from the grave in this latest cryptocurrency rally, the price of XRP has soared and provided huge profits and optimism among investors.
In less than three weeks, XRP price surged a staggering 225%, showing continued momentum.
This surge made it one of the best performing altcoins, attracting the attention of analysts and traders.
XRP Technical Analysis by CrediBull
CrediBull, a leading analyst on the X platform, has shared a detailed technical analysis, highlighting the strong bullish structure on XRP.
According to his analysis, XRP is currently in a clear 5-wave impulsive movement pattern, which is often associated with a sustained uptrend.
If XRP can sustain level support Crucially, CrediBull predicts that the price could surpass $2 in the coming weeks, marking a significant milestone for the altcoin.
Potential Continued XRP Bullish Rally by CrediBull
The latest bullish phase for XRP may be just the beginning, as optimism continues to grow among analysts who predict higher prices in the months ahead.
However, key price levels must be tested and maintained for XRP to maintain momentum and continue its rise to the next stage.
Leading analyst CrediBull revealed that XRP is currently in a clear 5-wave impulsive movement pattern, which is a strong indicator of a bullish trend.
Read too How to Buy XRP (XRP)
According to its technical analysis, this pattern confirms that XRP's absolute bottom was set at $0.49 earlier this year.
He also emphasized the importance of the $1.05 level, which is the origin of the fifth subwave in this impulsive structure.
CrediBull explains that if XRP falls below $1.05, it could signal the start of a larger Wave 2 correction, which will likely precede the next major bullish impulse (Wave 3).
However, if XRP remains solidly above $1.05, this would indicate that the fifth subwave is extending, potentially pushing the price towards $2 or more before a significant pullback occurs.
Read too Advantages of Ripple (XRP) According to New York University Professor
$1 As Basic Support Level for Further Rise
XRP has been trading below the $1 level for almost three years, mainly affected by the case filed by the US Securities and Exchange Commission (SEC).
Even during the mini bull run following the election of Donald Trump, XRP price movement remained slow, struggling to maintain a price of $0.57.
However, on November 16, this altcoin managed to reach the price of $1 after surging by 14.72%.
Within a week, XRP was trading at $1.50, which had touched $1.62 on November 23.
Read too XRP Breaks Through Golden Cross Pattern, What Does This Mean for Ripple Coin?
Prediction Bearable Bull “XRP Won't Go Below $1”
Many analysts believe that the price of XRP will not return below $1, with one popular Twitter/X user, known as the “Bearable Bull,” stating that XRP will never fall below $1 again.
Conclusion
The recent XRP price rally has caught the attention of many analysts and market observers. Bearable Bull, a well-known crypto mentor on Twitter/X, is one of the analysts who provided bold insights on XRP price movements.
In a post that received 94.7K views, Bearable Bull stated that the community will not see XRP return to $1.
Other analysts also agree, saying that the token has consolidated its base.
FAQ on $XRP Price Analysis
1. What is the XRP price prediction if Ripple wins the trial?
If Ripple wins the trial against the US Securities and Exchange Commission (SEC), many analysts believe that the price of XRP could experience a significant spike.
This win would remove the legal uncertainty that has weighed on the price of XRP for some time, and could encourage more investors to purchase the token.
Some predictions suggest that the price of XRP could reach new highs, perhaps even surpassing $2 in the near future following the decision.
2. What is the XRP price prediction for 2025?
XRP price predictions for 2025 vary among analysts, but many are optimistic about its long-term growth potential.
If the adoption of blockchain technology and the use of XRP in international transactions continues to increase, the price of XRP could reach between $3 to $5 by 2025.
However, this largely depends on regulatory developments and market acceptance of cryptocurrencies as a whole.
3. What is the latest price of XRP?
Current price November 25, 2024 of XRP according to Bittime.com
is 1 XRP = Rp23.164.
For more accurate and up-to-date information, you can check the Bittime website.
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Reference:
- XRP Analyst Sets $2 Target If It Holds Key Level – Can It Reach Multi-Year Highs?, https://www.newsbtc.com/news/ripple/xrp-analyst-sets-2-target-if-it-holds-key-level-can-it-reach-multi-year-highs/, Accessed November 25, 2024
- XRP Below $1? Not Happening, Claims Millionaire Analyst, https://www.newsbtc.com/news/xrp-below-1-not-happening-claims-millionaire-analyst/, Accessed November 25, 2024
Author: IN
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