XRP, a digital asset often criticized for its lackluster price movements, has recently demonstrated remarkable price activity, earning praise even from skeptical analysts.
The cryptocurrency reached a 17-month high of $1.23 after an intraday surge of over 30%, marking a 149% increase since its $0.4937 price on November 3.
.$XRP
The snail is ready to become a runner!
. https://t.co/xBodIZlMtX pic.twitter.com/Jw3TDcOEWg
— RᗩᖴᗩEᒪᗩ 𝗥𝗜𝗚𝗢 (@RAFAELA_RIGO_) November 14, 2024
Renewed Optimism for XRP’s Performance
Among the newfound supporters is crypto analyst Rafaela Rigo, who shared her bullish outlook on XRP in a post on X earlier today. Rigo described XRP as “ready to become a runner,” referring to its recent upward trajectory.
Alongside her commentary, she presented a price chart forecasting an additional 75% increase for the asset, potentially reaching $1.345, a price last seen in 2021.
Despite its historical reputation as a laggard among the top ten cryptocurrencies, XRP now boasts the best seven-day performance in this category, second only to Dogecoin. This development has prompted speculation that XRP could maintain its upward momentum.
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Pro-Bitcoin Analyst Backs XRP
The asset’s recent rally has even swayed critics such as “MMCrypto,” a well-known Bitcoin advocate who has been vocal about his skepticism toward XRP in the past.
On Tuesday, after XRP surpassed the $0.70 mark, MMCrypto expressed a significant shift in perspective, stating that XRP was no longer stagnant. The analyst disclosed a personal investment of $2 million in XRP tokens.
In subsequent updates, MMCrypto noted that XRP was exhibiting a “coiling pattern,” suggesting that a breakout could be imminent.
He speculated that a decisive move might occur within hours, cautioning traders to remain vigilant as market volatility, largely influenced by Bitcoin, continues to affect XRP’s short-term price movements.
XRP briefly retested the $0.786 level following its surge past $0.80, highlighting the influence of broader market trends on the asset.
Long-Term Projections for XRP
The recent developments have also sparked long-term bullish predictions for XRP. Analyst Mikybull has projected that XRP could rally to $12 by March 2025, a potential increase of over 1,400% from current levels. He advised XRP holders to prepare for significant gains, emphasizing that “the train has already left the station.”
Another prominent analyst, EGRAG, is even more optimistic. He posits that XRP’s performance this cycle could exceed a 4,000% rise, suggesting a target of $27. He further warned that anything less might indicate market manipulation. EGRAG’s analysis stems from XRP’s cycle low of $0.28, making a potential 96x increase plausible.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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