- Assessing the XRP price prediction, as the altcoin was up nearly 200% in November.
- Can the uptrend extend amid renewed whale interest?
As a seasoned crypto investor with a knack for spotting trends and interpreting market signals, I find myself intrigued by the current state of Ripple [XRP]. The 200% surge in November has been nothing short of exhilarating, reminding me of the thrilling rides we’ve had in this rollercoaster called crypto.
In the month of November, Ripple (XRP) experienced a significant surge, climbing approximately 200%. This rapid increase brought its value to a four-year peak of $1.63 in just two weeks. Such a dramatic rise often indicates substantial untapped profits for most holders, a situation that typically precedes a possible price drop and a period of market stabilization.
However, whale behavior seemed to contradict this, as it was observed that whales amassed more than 50 million XRP during the weekend. This move by these big investors implies they anticipated the upward trend would persist, according to crypto market analyst Ali Martinez.
XRP price prediction
Currently, XRP is priced at $1.5, which represents the midpoint between its peak in 2018, over $3, and a 20% drop from the 2021 high of approximately $2.
As a researcher, I had identified a potential bullish target of $2 for XRP, given the positive trend that was underway. If this upward trajectory persisted, reaching this price point seemed plausible.
The powerful trend in pricing, as demonstrated by the Stochastic Relative Strength Index and surge in On-Balance Volume, suggests a significant buying force and the possibility of reaching or even surpassing the price target of $2.
However, it’s important to note that last week’s closing price for bulls was slightly unfavorable. The candlestick closed under $1.5, mirroring the previous two days. This suggests a struggle for control at the $1.5 level, and if it holds, it could influence the upcoming price trend.
On the day-to-day graph, the advantage was with the buyers. A price disparity beneath $1.4 served as a significant opportunity for the buyers to re-enter the market.
A strong momentum at this level could allow the uptrend to target upper targets like the $1.96.
In the region under $1.5, there was an accumulation of heavily leveraged long positions (noticeably bright orange points), which market makers could exploit as opportunities to seek liquidity.
Read XRP’s Price Prediction 2024–2025
On the high end of the market trends, heavy bets for short selling were placed above $1.6. In simpler terms, it’s possible that Ripple (XRP) might encounter a significant drop in liquidity around $1.4 before potentially aiming for $1.6 or $1.9 again.
To summarize, there was a strong indication that XRP might experience further growth, given the surge in whale interest. Yet, this trend would only be confirmed if XRP manages to exceed $1.5.
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2024-11-26 03:03