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XRP Price Pumps 7% On Christmas Eve, Will It Reach Yearly Highs?
The XRP price is currently enjoying a nice recovery, having pumped over 7% on Christmas Eve. Based on several analyses, XRP could be eyeing a rally to its yearly high of $2.91.
XRP Price Eyes Current ATH Following Latest Pump
The XRP price is eyeing a rally to its current ATH following its 7% gains on Christmas Eve. Crypto analyst Javon Marks recently mentioned that XRP’s 4-hour chart is coming off a Hidden Bullish Divergence confirmation.
He added that this suggests that XRP could recover over 30% to its 2024 high of $2.91, which could be on the horizon. The crypto analyst added that a continuation of this uptrend can lead to a new all-time high (ATH).
Marks is confident that this projected rally is a matter of when not if. In anticipation of this rally, Ripple Whales have accumulated 40 million XRP, which also provides a bullish outlook for the crypto.
Crypto analyst CrediBULL Crypto also provided a bullish outlook for the XRP price. He stated that the XRP/BTC chart looks absolutely “fantastic.” He suggested that a parabolic rally was on the horizon while revealing that he was looking to open another long position.
The crypto analyst added that XRP’s chart is still the most bullish looking in the entire space off the lows. He believes that the crypto is just a “powder key building pressure.”
Double Bottom Pattern Adds To Bullish Sentiment
In an X post, crypto analyst CasiTrades stated that the XRP price has essentially formed a double bottom as it bounces around key Fibonacci levels. The analyst added that XRP is now getting a bullish wave.
However, she warned that the crypto is still under $2.38, meaning that it is still technically within this recent price correction. As the Relative Strength Index (RSI) and price climbs, CasiTrades noted that the structure looks promising and that XRP is still on track for the wave, pushing toward D targets around $2.60.
Her accompanying chart showed that the XRP price could reach this Wave D target by December 26. Thus, she remarked that the crypto still has time to achieve this target.
In the long term, a CoinGape market analysis showed that XRP could still reach double digits as it rises to $10. Fundamentals such as the RLUSD stablecoin and a potential end to the Ripple SEC lawsuit support such bullish projections.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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