Since November, the price of XRP has risen 360% to break the $2 mark.
Analysts expect XRP price to rise by 100%.
The price of Ripple (XRP) has been trending bullishly since November and has climbed above $2. Since the beginning of December, buyers appear to be weak and the price has failed to touch the last swing high.
XRP price prediction suggests that buyers will remain strong until the price drops below the $2 mark. However, recently, the price dropped below the $2 mark but the buyers were strong enough and pushed the price above the 20-day EMA.
According to EGRAG’s Bifrost Bridge analysis, XRP could reach $5 by the end of December 2024 and $27 by January 2025. This prediction is based on price action levels and historical price behavior, similar to what we saw with XRP price action in 2017.
Can XRP price gain 100% ahead of time?
Crypto Bull is a cryptocurrency analyst who believes that Ripple has the potential to rise by 100%. On the 1-hour timeframe, the price has formed a bullish flag pattern and is hovering in the breakout zone.
If the price breaks out of the channel, it may attract bulls. According to the historical charts, XRP price has seen good movement after each correction. A successful breakout of this correction phase may push the price to the $5 mark.
XRP Price Trend and Prediction on the 4-Hour Timeframe
At press time, XRP is trading at $2.34, unchanged over the past 24 hours. The market cap is $135.36 billion, with a 24-hour trading volume of $9.65 billion.
XRP price has been stuck in a descending channel on the 4-hour timeframe. If Ripple XRP price triggers a breakout of the bullish flag pattern, buying pressure may emerge. If the chart structure is able to attract buyers, the price may rise to the $5 mark in the coming weeks or months.
On the contrary, if the price faces resistance at the 20-day EMA, it could drop to the downtrend line. Once the price starts to fall below the 200-day EMA, it will face strong selling pressure. At this point, most traders and investors might prefer to book profits, which could result in a bearish trend.
Talking about technical indicators, the RSI has triggered a bullish crossover with the RSI-based moving averages. The MACD has just entered the positive territory and the histogram has turned green. Overall, the technical indicators portend a bullish forecast.
XRP Price Analysis and Predictions
XRP is in a bullish trend, having risen sharply since November and successfully maintained above the key $2 mark. Analysts are optimistic about XRP’s potential to achieve significant price gains.
Notably, some estimates suggest that by the end of December 2024, the Bitcoin price could reach the $5 mark, and even by January 2025, the Bitcoin price could reach $27, similar to its historical performance in 2017.
The recently formed bullish flag pattern suggests that if XRP is able to break out of the current channel, strong buying pressure could emerge, pushing the price towards the target $5 mark in the coming weeks or months. However, caution is advised as resistance at the 20-day EMA could lead to a decline in prices, especially if the price falls below the 200-day EMA, there is a risk of turning to a bearish trend.
