Super Bullish Ripple (XRP) Pattern Possible: Is a Rally in the Making?
TL;DR
- Analysts Predict XRP Surge: Crypto analysts, including X (Twitter) user JD, predict a significant surge in Ripple’s XRP, with expectations of a “Golden Cross” in a chart, signaling a bullish trend. JD forecasts XRP’s price could reach as high as $24 by the end of 2024.
- Short-Term Price Predictions: Another analyst, Dark Defender, anticipates a short-term increase in XRP’s value, projecting a rise to $0.88 by New Year’s Eve, expecting a decisive market movement in the next two weeks.
- Positive Market Conditions and On-Chain Metrics: XRP’s potential growth is supported by the overall bullish condition of the crypto market, with leading digital assets like BTC and ETH hitting yearly highs. On-chain metrics, including a high number of daily XRP transactions and an increasing number of XRP wallets, also indicate a potential surge.
‘XRP Parabolic Move is Imminent’
The price of Ripple’s native token – XRP – might be up 85% since the beginning of 2023, but some crypto analysts predict further surges. The popular X (Twitter) user JD believes the asset could soon experience a “Golden Cross” and thus head towards new peaks.
“Golden Cross still remains! Even if we have a nice retracement, the Parabolic move is imminent,” the analyst stated.
According to JD, such a development could push XRP’s valuation to as high as $24 by the end of 2024. A “Golden Cross” is a chart pattern showing that the short-term moving average has crossed above a long-term moving one. It is considered a bullish event and has historically propelled price surges in other cryptocurrencies, such as Bitcoin (BTC).
Another analyst who thinks XRP could head north in the short term is Dark Defender. The X user forecasted “a decisive break within two weeks” and a price of $0.88 by New Year’s Eve.
XRP to Thrive Amid the Green Environment?
Ripple’s coin could indeed experience an uptrend before the end of 2023 should the market’s overall bullish condition remains unchanged or even improve.
Recall that leading digital assets such as Bitcoin (BTC), Ether (ETH), Solana, and Cardano (ADA) have charted yearly-high prices in the past few days, while the global crypto market cap briefly surpassed $1.7 trillion (per CoinGecko’s data).
Some on-chain metrics also indicate a potential surge. According to xrpscan, the number of daily XRP transactions executed in the last week has been well above the 1 million mark. In addition, the number of XRP wallets is inching toward the 5 million milestone.
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