Hello, traders! 👋 Today we will talk about one of the hottest cryptocurrencies of November — XRP. This token has shown incredible growth of 297% over the past month, has broken through a seven-year high of $1.95 and continues to attract attention. 😎 But the main question is: where next? Let's figure it out!
Since November, XRP has been showing strong bullish momentum 🐂, closing above $1.99 for the first time in seven years. 🚦 This is not just a technical level, but a signal of the beginning of a new growth phase. Analyst Jacob Canfield believes that $6.60 could be XRP’s next target. Why? 🔮 He uses Fibonacci extensions and compares XRP’s current momentum with BTC’s, which is currently trading five times above its 2017 levels. Thus, doubling XRP’s previous all-time high ($3.40) seems quite logical. 😍
But the price growth is supported not only by technical analysis, but also by network data. 📡 Over the past three weeks, wallets containing from 1 to 10 million XRP have accumulated more than $1.6 billion. 🤑 And the total number of active wallets has exceeded 5.5 million for the first time in history! Whales and retail are clearly accumulating the token.
The futures market is not far behind either! 🔥 Open Interest (OI) on XRP contracts reached a new all-time high of $3.99 billion on December 2, doubling in just a few days. This indicates strong interest from traders expecting further growth.
What does this mean for us? If XRP holds above $1.99 by the end of the year, it will be a major signal for further bullish trend. 🚀 And the target of $6.60 is a realistic target, especially if the market maintains the current dynamics.
Share your thoughts in the comments! Do you believe in $6.60 for XRP, or do you have your own goals? 💬 Subscribe to stay up to date with new predictions, and don't forget about risk management. Happy trading! 💹
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