According to recent projections, the XRP price has increased by more than 7% and is expected to surpass its 2024 high this Christmas.
The XRP price is experiencing a pleasant recovery, increasing by more than 7% on Christmas Eve. Numerous analyses indicate that XRP may anticipate a rally to its yearly high of $2.91.
The most recent pump has caused the price of XRP to approach its current all-time high
The current ATH of the XRP price is being targeted for a rally following its 7% increase on Christmas Eve. Recently, crypto analyst Javon Marks stated that XRP’s 4-hour chart is following confirmation of Hidden Bullish Divergence.
He further stated that XRP could recover by more than 30% to its 2024 high of $2.91, which is potentially imminent. The crypto analyst further noted that continuing this upward trend could result in a new all-time high (ATH).
Marks is certain that this anticipated rally will occur, rather than if. Ripple Whales have amassed 40 million XRP in anticipation of this rally, indicating a positive outlook for the cryptocurrency.
CrediBULL Crypto, a crypto analyst, also expressed optimism regarding the XRP price. He declared that the XRP/BTC chart is “absolutely fantastic.” He expressed his intention to establish an additional long position and suggested that a parabolic rally was imminent.
The crypto analyst further stated that the chart of XRP remains the most bullish in the entire space since the lows. He thinks crypto is merely a “powder key building pressure.”
The double-bottom pattern further bolsters the bullish sentiment
In an X post, casiTrades, a crypto analyst, claimed that the XRP price has essentially formed a double bottom as it bounces around key Fibonacci levels. The analyst further stated that XRP is currently experiencing a bullish wave.
Nevertheless, she cautioned that the cryptocurrency is still below $2.38, technically within the recent price correction. CasiTrades observed that the structure appears promising and that XRP is still on track for the wave, as the Relative Strength Index (RSI) and price continue to rise, pushing toward D targets around $2.60.
The accompanying chart indicated that the XRP price could reach the Wave D target by December 26. Therefore, she observed that the cryptocurrency has remaining time to accomplish this objective.
A CoinGape market analysis indicated that XRP could still reach double digits in the long term as it rises to $10. These bullish projections are substantiated by fundamentals such as the RLUSD stablecoin and the potential resolution of the Ripple SEC lawsuit.
