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The Ripple Labs token for fast cross-border settlement among financial institutions is a top 10 cryptocurrency by market capitalization.
It was a top-five crypto until DeFi network Solana’s tokens (SOL) flipped XRP to this month. But Ripple may be showing signs of life again.
Bullish Ripple Technical Indicator
The XRP price chart shows markets tracing a bullish falling wedge reversal pattern over the 20-day view since Dec. 8 (when XRP traded for $0.67), the 50-day view since Nov. 6 (when XRP traded for $0.71), and over the 28-week view since July 13 (when XRP traded for $0.81), according to CoinGecko data.
Moving at an average of $0.62 on Wednesday, Dec. 27, Ripple was trading at 16% of its all-time high price of $3.84, according to Coinbase data. A return to the previous record-high price for XRP tokens would be a 525% increase over the average Dec. 27 exchange rate.
5 Interesting XRP Price Predictions
Here are five of December’s most insane 2024 XRP price predictions:
1. Changelly’s price prediction tables target an average trading price for Ripple of $0.81 in 2024. That’s based on technical analysis by the Prague-based cryptocurrency exchange.
2. On Christmas Eve, Egrag Crypto, a popular Ripple analyst on X (formerly Twitter), forecasted $1.20 per 1 XRP within the next 55 days. In addition to the bullish price target, Egrag noted that this crypto often “crawls like a snail” with sudden price spikes.
#XRP Targeting 🎯 $1.2 in a Maximum of 55 Days! 🚀:
If the blue fractal unfolds, it’ll signal an impending, rapid short-term surge on the horizon! 🌀📈
While 90% may feeling frustrated from #XRP’s current state, imagine the potential if it dips to 0.55-0.50c. Paper hands might… pic.twitter.com/RB5RJMrCoF
— EGRAG CRYPTO (@egragcrypto) December 24, 2023
3. Meanwhile, a Ripple analyst going by the moniker Dark Defender predicted a surge to $1.88 preceding a breakout to an ATH above $5 per 1 XRP by Q2 2024.
“I don’t listen to the FUD,” the analyst wrote.
4. An XRP trader going by the screen name James Crypto, employing Elliott Wave theory, predicted on Thursday, Dec. 21, a $5 – 13 per 1 XRP price by March – April 2024, around the time of Bitcoin’s halving.
5. Without giving a specific timeline, crypto price predictions, and blockchain trends YouTube presenter JWK recently made the insanely bullish price prediction of $352 for XRP.
Meanwhile, if you’re curious to find out about other price outlooks on XRP for 2024, feel free to take a look at our video here:
This article first appeared at CryptoPotato
