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The crypto market has been abuzz with activity regarding XRP, and there is a consensus among investors that its anticipated return to all-time high (ATH) territory may occur sooner than anticipated.
XRP’s price has reached $1.43, marking a monumental 25% increase in the past day alone, bringing its weekly gains to a solid 50%. For investors and traders, the question isn’t if the altcoin will break its ATH but when.
Prominent crypto analyst CrediBULL has shared an audacious forecast on X (formerly Twitter): XRP will surpass its ATH much more quickly than most anticipate.
I think $XRP is probably going to make new ATH a lot quicker than most are expecting- and I think it’s going to vastly outperform both $BTC and $ETH from current levels while doing it.
XRP/ETH just reclaimed and retested a 4 year long range, with the first target being ~250%… pic.twitter.com/fLYlH2GEYB
— CrediBULL Crypto (@CredibleCrypto) November 21, 2024
Surpassing Bitcoin And Ethereum
The most recent performance of XRP has been nothing short of remarkable. The coin has experienced a 90% increase in value over the past 90 days, surpassing Bitcoin (up 51%) and Ethereum (up 20%). The two market leaders are expected to be outperformed by XRP, as this short-term dominance indicates a change in market dynamics.
Still, there’s an issue. Bitcoin is nearing its ATH of about $99K while Ethereum is just 30% below its peak. By contrast, the crypto asset stays 60% below its six-year-old ATH. This discrepancy highlights the difficult climb XRP must do to reclaim its prior dominance even while it shows promise for development.
The XRP/ETH trading pair has left a four-year range, which suggests a possible 240% increase and has added to the optimism, CrediBULL pointed out. The next major XRP advancement could be spurred on by this breakthrough.
Upbeat Technical Indicators
Technically, XRP is showing strong bullish signals. While important indices, such the Relative Strength Index (RSI), show reduced selling pressure, the Simple Moving Average (SMA) provides strong support for the present price trend. Over the next three months, analysts predict its price will rise by 7.3%; following six months, they expect an 80.96% rise, data from CoinCheckup shows.
The ability of XRP to consistently surpass resistance levels is the driving force behind these forecasts. The path to $2—and beyond—may be closer than skeptics believe if it maintains this momentum.
A Market-Defining Moment
The recent price fluctuations of XRP are a part of a larger narrative unfolding in the cryptocurrency market. As institutional adoption and regulation continue to expand, XRP is asserting itself as a top contender in the next wave of crypto expansion. Its current price of $1.54 reflects both a resurgence in investor confidence and a recovery from recent volatility.
Meanwhile, XRP holders are on high alert watching the charts. The sentiment for XRP is undoubtedly bullish, even if the market cannot settle on anything yet. It could be the start of a greater rally if the stars align right into a new ATH.
Featured image from Lunu, chart from TradingView
