XRP Eyes Historic $30 Target as Analyst Maps Path to New Heights
- CryptoBull predicts XRP could replicate its 2017 bull run.
- Closing November above $2 is seen as critical.
- The analyst forecasts XRP reaching $5 by December 2024 and $30 by January 2025.
Market analyst CryptoBull has outlined an ambitious trajectory for XRP, drawing parallels between current market conditions and the historic 2017 bull run. The analysis comes as XRP trades at $1.55, marking a remarkable 203% monthly gain and sparking speculation about its potential to reach unprecedented levels.
Novembers Critical $2 Target For XRP
The immediate focus centers on XRPs ability to close November above $2, a level not seen since January 2018. A monthly close above $2 would represent a 288% increase, mirroring the March 2017 breakout that preceded XRPs historic rally, CryptoBull noted, highlighting the significance of this potential milestone.
The analyst draws striking parallels to XRPs 2017 performance when it surged from $0.0056 to $0.0214 in March, marking a 284% monthly gain. That move preceded an extraordinary 15,367% rally to $3.31 by January 2018, setting the stage for potential similar momentum.
CryptoBull outlines a specific timeline for XRPs potential ascent:
- December 2024: Target of $5, establishing a new all-time high
- January 2025: Extended target of $30, representing an 1,835% increase from current levels
The projected $30 price point would elevate XRPs market capitalization to approximately $1.7 trillion, positioning it near Bitcoins current $1.9 trillion valuation. While substantial, this target represents a more modest percentage gain compared to the 2017 rally, suggesting a potentially achievable goal in the current market environment.
Current market conditions, characterized by XRPs 59% weekly gain and strengthening momentum, provide the foundation for this bullish outlook, though achieving these targets would require significant sustained capital inflow.
Read more: https://thenewscrypto.com/xrp-eyes-historic-30-target-as-analyst-maps-path-to-new-heights/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
