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*Ripple (XRP) has surged significantly, with the price nearing $1.20**
Recently, Ripple (XRP) has performed excellently amidst strong momentum in the market, with a price increase of over **100%** in the past week, currently priced at nearly **$1.20**. This rebound is not only related to the overall recovery of the cryptocurrency market but is also driven by the progress of the legal battle between Ripple and the SEC. Below is a comprehensive analysis of XRP's latest performance and future trends.
**Market Performance Overview**
1. **Price Performance**
- **Current Price**: XRP is quoted at **$1.17**, with a 24-hour increase of **9.49%**.
- **Weekly Increase**: In the past 7 days, XRP has risen **101.94%**.
- **Monthly Increase**: Since early November, XRP has grown **114.33%**, reaching a peak of **$1.19** on November 17.
2. **Market Capitalization and Circulation**
- **Market Capitalization**: Currently at **$66.5 billion**, ranking sixth in the cryptocurrency leaderboard.
- **Fully Diluted Valuation**: Over **$116 billion**, with a circulation close to **10 billion** coins.
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**Driving Factors Behind the Surge**
1. **Bitcoin Bull Market Spillover Effect**
- Bitcoin recently broke through **$90,000**, injecting upward momentum into the entire crypto market.
- XRP has always been a token highly influenced by market sentiment among mainstream crypto assets, quickly following BTC's increase.
3. **Technical Breakthrough**
- XRP has broken through the key resistance level of **$1.00** in the past few weeks, attracting more investor attention.
- The recent **November 17 rebound** further solidified market confidence.
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**Future Trend Forecast**
1. **Short-Term Targets**
- XRP's current resistance level is at **$1.20**, and if broken, the next target will point to **$1.50**.
- The support level below is at **$1.00**, with a low likelihood of breaking in the short term.
2. **Medium to Long-Term Predictions**
- **Conservative Estimate**: XRP's price may fluctuate between **$0.69 and $3.09**.
- **Optimistic Prediction**: It is expected that in the coming months, XRP could reach between **$2.46 and $2.96**, with an average price of around **$2.80**.
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