🚀💰XRP Now Testing Huge Supply Zone as It Crosses $2.4; Analysts Identify Next Targets to Watch $3.3 ATH To Reach $5 🚀💰
$XRP XRP is at the center of a remarkable market rally, showing strength in the ongoing uptrend. Its price has surged by 31% over the past week and an astounding 271% in November, making it one of the biggest gainers in the ongoing post-election rally.
♦️XRP Retests Key Supply Zone
Most recently, Blake, a stock market analyst, discussed XRP’s immense potential. He shared a 1-week chart which highlights XRP’s current position as it tests a seven-year supply zone.
According to Blake, this supply zone ranges between $1.75 to $1.95. For context, XRP entered this territory during the latest recovery phase, which began on Nov. 27. Before this rebound, XRP witnessed a four-day collapse, dropping 13% to $1.2821 on Nov. 26.
However, with the recent recovery, XRP has recouped these lost values. It is now up 36% since Nov. 27, having recently surpassed Binance Coin (BNB) to become the fifth-largest crypto asset. Amid the uptrend, XRP surpassed the $1.75 mark, and is now testing $2.4.
The current test of this zone is especially pivotal. Blake believes if XRP successfully closes this week above $1.95, this could open the doors to the next major target at $3.3.
♦️A Potential Breakout Beyond $3.3
Meanwhile, in a separate analysis, Chad Steingraber, a pro game designer, compared XRP’s current rally to its 2017 breakout. His chart shows XRP is up 271% this November, similar to the 284% rally in March 2017, which marked the start of the 2017/2018 bull run.
Interestingly, after spiking 284% in March 2017, XRP rallied by an additional 143% the next month and saw a more substantial 374% gain in May 2017. It consolidated for six months following the May 2017 upsurge, before eventually gaining 746% in December 2017 to claim the $3.3 all-time high.
