Originally published on: November 13, 2024
XRP has shown strong performance recently, briefly touching its yearly high of $0.74 on Nov. 12. As Bitcoin’s uptrend slowed, XRP surged by 13.42%, retesting its resistance at $0.74 and hinting at a potential breakout.
Analysts are optimistic about XRP’s future, with one predicting a 200% rally from its current position. After consolidating in a tight range for most of 2024, XRP is showing signs of a parabolic rally, breaking a long-term downtrend and gearing up for significant growth.
Mikybull, a respected crypto analyst, believes XRP is on the verge of a major price surge, mentioning a possible “god candle” and a target of $2 by the end of the year. Harry, another XRP expert, shares this sentiment, suggesting a re-test of $0.96 in the short term with potential to exceed its 2021 high.
Data from Santiment reveals growing excitement within the XRP community, with a recent 45% breakout sparking renewed interest in the altcoin. The surge in open interest to $1.20 billion signals increased demand for leveraged XRP positions, potentially influencing price action in the coming weeks.
While XRP may see a short-term correction as the funding rate stabilizes, the overall outlook remains positive for a strong finish to 2024. As always, investors are advised to do their own research and exercise caution when making investment decisions.
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