A cryptocurrency analyst on X has forecasted additional upward movement for XRP following its significant rally in recent weeks. The analyst emphasized the accuracy of his prior market predictions, noting that he had anticipated XRP outperforming Ethereum (ETH) and Bitcoin (BTC).
On November 21, the analyst projected that XRP would reach a new all-time high sooner than most expected. He highlighted the cryptocurrency’s performance, pointing out the retest of a four-year-long range. He also set an initial target for XRP at over 250% above its November 21 price.
Also Read: XRP Price Prediction 2024-2025: Can XRP Sustain the $2 Mark?
XRP Outperforms Major Cryptocurrencies
Since the analyst’s prediction, XRP has gained 170%, surpassing Bitcoin and Ethereum in performance. The analyst believes there is still substantial momentum remaining in XRP’s rally. According to his assessment, the cryptocurrency’s price is expected to rise by another 98%, placing XRP’s price at over $5.
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Recently, XRP achieved a high of $2.91 during the market surge. The analyst suggests the cryptocurrency is poised for an additional surge of approximately 30% to reclaim a long-term forecast range. This move would push XRP above $3 for the first time in over six years.
XRP has staged a fresh buying rally after the recent US presidential election that saw Donald Trump defeating Kamala Harris. The cryptocurrency industry saw more positive sentiment than any other niche, sparked by Trump’s win. Many crypto-holders are inclined to think that XRP and its operator, Ripple, may be among those who can benefit from this shift.
The incoming president has pledged to produce less hostile crypto regulations and has started tapping favorable figures for key government posts. Crypto enthusiasts believe the new administration will close the legal battle between Ripple and the United States Securities and Exchange Commission (SEC), which could catapult the blockchain-based banking project to the next level.
Conclusion
The analyst’s optimistic outlook for XRP suggests that the cryptocurrency may continue its upward trajectory. With market conditions and regulatory developments aligning, XRP could achieve new milestones soon.
Also Read: See Trump’s Crypto Czar’s Previous Comment About the Ripple vs SEC Case
Maxwell Mutuma
Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. He writes extensively on topics such as blockchain, cryptocurrency, tokens, and more for top publications such as Coingape, Coin Edition, and The Coin Republic. His goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.