XRP, once considered one of the slowest and least performing assets among the top cryptocurrencies, is beginning to draw attention for all the right reasons. On November 15, 2024, the crypto asset surged to a 17-month high of $0.8452, marking a significant 23% intraday increase. This price movement, which has brought XRP’s total increase to a striking 71.12% since November 3, has attracted the attention of both crypto analysts and traders alike. XRP’s recent price action is leading some experts, who once dismissed the coin, to flip bullish on its future prospects.
Rafaela Rigo, a widely followed analyst, took to social media platform X (formerly Twitter) to declare that XRP was no longer the sluggish “snail” it once was but was now ready to transform into a “bullish runner.” Rigo’s comments came after XRP experienced a sharp surge, reaching its highest point in over a year.
Historically, XRP had struggled to keep pace with other major cryptocurrencies in terms of price performance. However, Rigo’s chart analysis suggests that the cryptocurrency could soon surge by an additional 75%, with the potential to hit a price of $1.345. This would push XRP past its previous peak levels last seen in 2021, marking a return to form for the altcoin.
Rigo’s prediction adds to the growing optimism around XRP, which has been one of the top performers over the last seven days, trailing only Dogecoin among the top ten cryptocurrencies by market cap.
Another surprising turn came from crypto influencer and Bitcoin maximalist “MMCrypto,” who has long held a critical stance toward XRP. However, after XRP’s recent rally above the $0.70 range, MMCrypto declared that the cryptocurrency was no longer behaving like a “stablecoin” and disclosed his investment of $2 million into XRP.
MMCrypto further elaborated on XRP’s potential, suggesting that the cryptocurrency was forming a “coiling pattern” on its charts, which often precedes a major breakout. While the volatility of Bitcoin did cause a brief pullback in XRP’s price, the general sentiment among analysts is that the asset is primed for further upside.
The newfound bullish sentiment toward XRP is not just limited to individual analysts. Market observers are increasingly confident that XRP’s price may continue its upward trajectory. Some analysts are forecasting that XRP could surpass the $1 mark in the near future. In fact, Mikybull, another well-known analyst, has predicted that XRP could rally as high as $12 by March 2025, representing an astonishing 1,400% increase from its current levels.
This projected surge is based on the belief that XRP’s price will follow a similar pattern to previous altcoin bull runs, which often occur after long periods of consolidation. Mikybull’s analysis suggests that XRP holders should be prepared for a “massive rally” as the cryptocurrency could be entering a new phase of its market cycle.
Other analysts, such as EGRAG, are even more optimistic about XRP’s future. EGRAG suggests that XRP could experience an even more dramatic rise, potentially achieving a 4,000% increase from its cycle low of $0.28. According to this analysis, XRP could see its price climb as high as $27, which would represent a truly remarkable shift in the asset’s value.
Such predictions are certainly ambitious, but they reflect a broader sense of excitement surrounding the digital asset, particularly among those who believe that XRP has the potential to reclaim its former dominance in the crypto space. For years, XRP has faced challenges due to its legal battles with the U.S. Securities and Exchange Commission (SEC), but with those issues seemingly on the back burner for now, the coin may be ready to capitalize on the bullish market trends.
As the positive sentiment around XRP grows, some experts believe the cryptocurrency is on the verge of a major breakout. Analyst Mikybull has declared that the “train has already left the station,” indicating that XRP’s current price could be the beginning of a much larger movement. If XRP is indeed gearing up for a new bull run, the early investors who position themselves now could see significant returns over the coming months.
XRP’s strong performance in recent weeks, including its recent rally to $0.8452, suggests that it is gaining momentum and could continue its upward trajectory. The cryptocurrency’s volatility and market behavior make it a potentially high-risk, high-reward investment, but for many, the possibility of a massive rally is too enticing to ignore.
XRP’s unexpected surge has left many investors rethinking their previous skepticism about the asset. As XRP continues to display strong performance, analysts like Rafaela Rigo and Mikybull have raised their price targets, with predictions of even more significant gains in the near future. With key market figures now turning bullish on XRP, the cryptocurrency is generating widespread interest from both retail and institutional investors.
Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche. Send a tip to: 0x200294f120Cd883DE8f565a5D0C9a1EE4FB1b4E9
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