XRP has been making waves in the crypto space after breaking above $1 for the first time in two years. This threshold has ignited excitement among investors, with different analysts predicting greater gains over time. If current trends hold, XRP could be on its way to a massive rally, with prices possibly appreciating over $4.
Analyst Predicts XRP Price Surge to $4.96
Egrag Crypto, a renowned crypto analyst, has shared a solid prediction for XRP. Based on different key factors, he believes the price could skyrocket as high as $4.96. According to Egrag Crypto, XRP’s market cap recently closed above the Fibonacci 0.07 level ($51.35 billion) and is now approaching the Fib 0.786 level ($60.06 billion).
#XRP CONFIRMED KABOOM:Please note that the chart provided pertains to the #XRP Market Cap.On the 2-Week Time Frame, we've witnessed an exciting development as the 21 EMA has crossed over the 55 MA. This #Bullish crossover historically signifies the onset of… pic.twitter.com/HCoPmwS9Xa
— EGRAG CRYPTO (@egragcrypto) November 9, 2023
The analyst explained that XRP is breaking through a critical multi-year ascending trendline that dates back to 2017. This technical breakthrough is seen as a major bullish signal. Egrag Crypto noted that if XRP’s monthly candle closes above the Fib 0.786 level, the market cap could soar to $283.42 billion. At that point, the price of XRP would likely hit $4.96.
For the short term, Egrag Crypto emphasized the importance of XRP closing this week above $1.10. This would further validate the current rally and pave the way for even bigger price jumps.
Whales Fuel XRP’s Momentum
Adding to the bullish sentiment, XRP whales are actively accumulating the token. In just the past 72 hours, whales have purchased over 320 million XRP. This accumulation level suggests growing confidence among major investors, which could further boost XRP’s price.
These whales’ actions are crucial, as their purchases often signal sustained price rallies. Their activity reinforces that XRP’s recent gains are not a short-term spike but part of a longer-term upward trend.
According to a recent post from Javon Mark, a popular crypto analyst, He predicted that XRP is preparing for a 190% rally. He suggested that once XRP hits its current all-time high (ATH) of $3.3, it could surge well beyond that level, signalling a powerful upward trend.
$XRP to $1 !XRP and another +190% to All Time Highs ($3.317), loading…XRP to break well above $3.317, loading … https://t.co/BFViV3j2ci pic.twitter.com/ev0G5umx2I
— JAVON MARKS (@JavonTM1) November 16, 2024
Could XRP Repeat Its 2017 Bull Run?
Some analysts are drawing parallels between XRP’s current performance and its legendary 2017 bull run. XRP skyrocketed by an astonishing 61,000% back then, eventually hitting its all-time high of $3.3 in early 2018.
Crypto analyst Charting Guy has noted that XRP’s monthly Bollinger bands are expanding, a pattern similar to what was observed during the 2017 rally. He believes this signals the potential for another explosive price surge.
$XRP monthly Bollinger Bands finally expanding 2017 vibes fr.. https://t.co/bJCEgOxmLd pic.twitter.com/JpEE8WS39v
— Charting Guy (@ChartingGuy) November 16, 2024
Similarly, analyst Mikybull Crypto has suggested that XRP could see a “hated rally” akin to its dramatic rise in 2017. According to his technical analysis, XRP’s price could surpass $5 during this rally, marking a new chapter in its market history.
If $XRP pulls a 2017 rally, then $9-$10 is in view.My conservative targets are $3-$5. https://t.co/ep5EDQqxCC pic.twitter.com/3lNxVt2iUY
— Mikybull Crypto (@MikybullCrypto) November 16, 2024
Pro-Crypto Policies and Market Optimism
Ripple CEO Brad Garlinghouse has also weighed in on XRP’s recent momentum. He pointed to the possibility of pro-crypto policies under the Donald Trump administration as a driving factor. The market has been buzzing with rumours that the U.S. SEC Chair may resign soon, which could lead to regulatory changes favouring the crypto industry.
These developments have already had a significant impact, with XRP’s price doubling in the past week alone. Analysts believe that clearer regulations could further fuel XRP’s rally, giving investors the confidence to pour more money into the asset.
Future Outlook for XRP
With strong technical signals, whale activity, and a supportive regulatory outlook, XRP is in a prime position for growth. The next key milestone will be maintaining a weekly close above $1.10, which could set the stage for prices to climb toward $4.96 and beyond.
For now, all eyes are on XRP as it continues to capture the market’s attention. If the predictions hold true, this could be just the beginning of a major breakout for one of the most talked-about cryptocurrencies in the
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