A seasoned market analyst has outlined a potential timeline for XRP to ascend from $5 to $30, drawing insights from its historical price trends and current market dynamics.
XRP’s recent price momentum has fueled optimism among investors. Just a week after breaking back into the $1 range for the first time in nearly three years, the digital asset has gained significant ground. Currently trading at $1.55, XRP has recorded a staggering 59% growth over the past week and now targets the $2 mark.
Will XRP Close November Above $2?
In a recent analysis, market commentator CryptoBull highlighted the importance of XRP surpassing and maintaining a $2 price level by the end of November. Achieving this milestone would mark the token’s highest price since January 2018, when it last approached $2. However, attempts to breach $2 have faced resistance near the $1.96 level.
Despite the challenges, CryptoBull remains optimistic, citing a favorable regulatory landscape and increased market liquidity as potential catalysts for a breakout. Should XRP close November above $2, it would signify a 288% monthly gain — its most significant surge in over seven years. Comparatively, XRP has already seen a 203% rise this month, hinting at the possibility of a historic price movement akin to its performance during the 2017 bull run.
For perspective, in March 2017, XRP skyrocketed by 284%, climbing from $0.0056 to $0.0214. CryptoBull notes that if XRP mirrors this trajectory, it could set the stage for an explosive rally in the months to come.
Path to $5 and $30: Analyst’s Forecast
CryptoBull suggests that if XRP successfully closes November above $2, it may replicate the 2017 bull market’s pattern. Following its massive March gains in 2017, XRP continued to soar, achieving an astonishing 15,367% rally to reach $3.31 by January 2018. If a similar pattern unfolds, XRP could see exponential growth in the near term.
According to the analyst, XRP might double its price in December, reaching $5 by the end of the month, setting a new all-time high (ATH). From there, CryptoBull envisions XRP surging to an impressive $30 by the close of January 2025.
A $30 valuation would represent an 1,835% increase from its current price of $1.55. While this gain is smaller than the 15,367% spike seen in 2017, it would still mark a significant milestone. Achieving this price point would push XRP’s market capitalization to an estimated $1.7 trillion, approaching Bitcoin’s peak valuation of $1.9 trillion. Such a move would require substantial institutional and retail investment inflows, highlighting the scale of the market momentum needed for XRP to reach these levels.
Conclusion
CryptoBull’s forecast paints a picture of potential monumental growth for XRP, driven by historical patterns, strong market conditions, and growing investor confidence. While these projections hinge on XRP breaking critical price levels, the token’s current momentum suggests that a new chapter in its price journey may be just around the corner.
