Ripple and the growth prospects of XRP for the end of 2024
Ripple's XRP has seen an impressive price increase in 2024, rising by 292.55% for the year and 261.95% in the last month, reaching a high of $2.71 in December. This growth is attributed to market optimism following the presidential elections in the U.S. and the approval of the RLUSD stablecoin by the NYDFS. XRP stands out for its utility in cross-border payments and decentralized finance, and analysts project a possible price of up to $48 due to its growing adoption in the regulated financial sector.
Recent technical analysis shows that XRP could experience a significant increase due to the formation of a bullish flag pattern. This pattern, detected on December 3, includes a rapid initial rise (flagpole) and a sideways movement with a slight pullback (flag). This suggests a possible price increase to $4, although a temporary pullback before the surge is possible.
Additionally, the TD Sequential indicator gave a short-term sell signal on 4-hour charts, but the overall outlook remains bullish. A breakout above $2.46 would confirm this pattern and could trigger a new bullish leg for XRP, according to experts.
