💰Will XRP (Ripple) Reach Target Price of $3 in December 2024?📉
$XRP XRP’s recent price movement underscores its growing momentum in the cryptocurrency market. The token surged past its multi-year resistance at $1, reclaiming the $2 milestone for the first time in seven years. Market indicators, such as the Average Directional Index (ADX) at 27.26, suggest strengthening trend momentum.
Additionally, XRP’s market cap has exceeded the 8-week moving average, currently at $67 billion, with recent valuations surpassing $146 billion. Analysts project further growth, with potential targets of $3.50 in the near term and $5 in the long term.
🐋Whale 🐋 Alert
Institutional interest and whale activity further highlight XRP’s strong outlook. Prominent analyst Ali Martinez reported that large holders accumulated over 120 million XRP tokens, worth $288 million, during a recent pullback.
♦️Peter Brandt Acknowledges XRP’s Resurgence
Long-time XRP critic and seasoned market analyst Peter Brandt has dramatically shifted his perspective on XRP. Recently, he declared XRP’s weekly chart the “most powerful” in the crypto space. The XRP chart has revealed a clear breakout, ending a prolonged consolidation phase within a symmetrical triangle.
📉Projections for XRP’s Future
XRP’s impressive rally has led to predictions of significant price surges. Ali Martinez, a respected crypto analyst, forecast that XRP could reach $8.40, representing a 223% increase from its current level.
Another potential catalyst is the resolution of Ripple’s legal disputes with the SEC. Positive outcomes could pave the way for XRP-focused exchange-traded funds (ETFs).
❓Can XRP Break the $3 Barrier?
Despite the recent dip, investor optimism remains strong. For XRP to break through the $3 mark, it must overcome resistance in the $2.79 to $2.90 range. If current trends persist, XRP may not only cross the $3 threshold to Reach $5.
Share your thoughts, do you think XRP will Cross $3?