Market Expert Predicts XRP Will Reach $2
Amidst recent price movements, experts believe that XRP is likely to surpass its previous high and reach a seven-year peak.
XRP has experienced a significant surge, reclaiming $1 for the first time in three years. Although it has faced a slight pullback and is currently consolidating around $1.46 after peaking at $1.63 on November 23rd.
With a remarkable 188% increase in November alone, analysts are now more optimistic about XRP, predicting that it will reach the $2 milestone and expecting long-term gains of up to $8.
Crypto analyst and entrepreneur Armando Pantoja supports this narrative. In his latest analysis, he suggests that XRP’s bullish setup is not temporary. He highlights a major upward trend in a 30-day chart, starting in early November. This trend is supported by whale accumulation and positive market sentiment.
Despite this run, Pantoja believes that XRP’s MACD is cooling and its Relative Strength Index (RSI) is not yet in an overbought position, indicating a sustained rally rather than an overheated market.
Based on these market conditions, Pantoja believes that once XRP clears $1.60, resistance to $2 will be minimal, likely triggering FOMO (fear of missing out) among traders. He is confident that XRP’s long-term target lies between $8 and $20.
Another analysis from market commentator Dark Defender complements Pantoja’s outlook. Dark Defender focuses on shorter-term timeframes and discusses XRP’s next price direction from this level over the next few days.
Using a 4-hour XRP chart, Dark Defender confirms the importance of the Fibonacci level at $1.44, which XRP has successfully breached by closing two consecutive candles above it. This indicates a potential move towards the $1.63 resistance zone, setting the groundwork for XRP to climb to $1.88.
Dark Defender predicts that sustained movement above $1.44 will act as a launchpad for further gains. If XRP reaches the $1.88 target, it would face minimal resistance on its journey towards $1.96. Veteran trader Peter Brandt expects a massive run once $1.96 is surpassed.
Analyst Mikkybull also recently shared a 4-hour XRP chart showing consolidation within a symmetrical triangle. This triangle formed after XRP breached the $1 level earlier in November and lasted for five days before rallying to $1.63.
Mikkybull sees parallels in the current price action, with the latest triangle forming after the drop from the $1.63 high. He expects another breakout that could push XRP to the $2 price range.
All these analysts agree that maintaining support levels, such as $1.44, will help sustain the rally. Breaking through the resistance at $1.63 could act as a catalyst for XRP’s next leg up to $2 and beyond.
