Cryptocurrency prices saw a significant bounce on Thursday, with Bitcoin holding steady above $100,000 and XRP showing a strong rebound. With the market’s positive momentum, many analysts are maintaining their optimism about XRP’s future, with some predicting the coin could soon hit its all-time high (ATH). So, how soon can Ripple (XRP) price hit its ATH?
Crypto Experts Predict a Bullish December for XRP
Crypto analysts are increasingly bullish about XRP, with some predicting it could surge to new heights in the coming months. A prominent crypto expert recently forecast that XRP could soar to $5 in the short term, with an even more ambitious long-term prediction of $18.
Additionally, popular X (formerly Twitter) user Good Mornin Crypto, with nearly 35k followers, has hinted that XRP is on track to break its ATH this month. By analyzing the monthly chart, he points out that the coin is within striking distance of its previous record high. Fellow analyst Amonyx has gone even further, predicting that XRP could hit $20.
$XRP TO BREAK ALL-TIME HIGH THIS MONTH! pic.twitter.com/ifaJyGs4wM
— Good Morning Crypto (@AbsGMCrypto) December 12, 2024
As of Thursday, XRP was trading at around $2.40, making it just 40% shy of its all-time high of $3.32. Given the coin’s historical price movements—such as its nearly 500% rally in November—it seems that such a jump could be within reach.
Bullish Catalysts Could Propel XRP Price
Several bullish factors are working in Ripple’s favor. One of the most notable is Ripple Labs’ recent approval to launch the RLUSD stablecoin, which could go live as soon as this month. This stablecoin will be used alongside XRP for global payment solutions, providing a potential use case that could drive up demand for the token.
Another factor influencing XRP’s potential price rise is the possibility of a favorable legal outcome for Ripple. The Trump administration could end the ongoing litigation against Ripple and other cryptocurrency companies, which would remove a major cloud hanging over the project. Furthermore, there is speculation that Ripple may go public with an IPO in 2025, which could further boost investor sentiment.
Technical Analysis Suggests a Bullish Breakout
From a technical standpoint, XRP appears to be on the brink of a strong breakout. The coin has formed a bullish flag pattern, a rare but significant signal of impending gains. Additionally, XRP has displayed a hammer candlestick pattern, which typically indicates a reversal and potential for upward momentum. The coin is also holding above its 50-day moving average, further suggesting bullish sentiment.
Should XRP price break above the year-to-date high of $2.90, it would confirm a bullish trend, potentially propelling it toward its ATH. On the other hand, a drop below the $1.90 mark would invalidate the bullish outlook, opening the door for a potential reversion to the $0.87 level.
With strong technical indicators, positive catalysts, and a growing sense of optimism among analysts, December could be a pivotal month for Ripple. If the coin maintains its upward trajectory, it might soon achieve a new all-time high, solidifying its position as one of the leading cryptocurrencies in the market.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: XRP Whale Activity Fuels Bullish Momentum: Can Ripple’s Price Break $4.5 in December?
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