Can XRP Hit $14.90? Analyst Highlights Bullish Factors
The post Can XRP Hit $14.90? Analyst Highlights Bullish Factors appeared on BitcoinEthereumNews.com.
An analyst predicts XRP’s growth trajectory will be similar to 2017’s, with potential targets up to $14.90. XRP’s rising volume indicates strong momentum, supported by innovations like Automated Market Makers. Popular crypto analyst Alan Santana on TradingView notes that XRP’s present trend reflects the explosive increase it underwent in 2017. With little retracements and only one period of stabilization following 77 days of steady increase, XRP soared for an amazing 343 consecutive days back then. As of late 2024, the token has been rising for just 28 days, indicating a significant potential for continued movement. XRP Bullish Momentum and Key Price Targets “There is no actual reason the surge ought to stop right now. Santana stated that investors should buy any retracement. Emphasizing the formation of a significant movement, he underlined that present trade volumes are at their greatest levels since July 2023. Santana then pointed out, ” Prices will rise as volume increases. XRP is still on its ascent. With price targets set at $5.29, $8.49, and $14.90, the analyst stays firmly bullish. Source: Alan Santana on TradingView Meanwhile, the token is swapped hands at about $2.55 at the time of writing, a 5.21% gain over the last 24 hours and a 37.16% rise over the last 7 days. This spike has pushed XRP’s market value above $145 billion, making it the third-largest cryptocurrency by market cap. Also, an analyst in a prior CNF report found eight key reasons that might support XRP’s optimistic turnaround. Among the underlined components were warnings for investors not to follow “scare tactics” used by affluent individuals to support early selling. Furthermore, supporting XRP’s continuous success is the strong infrastructure of the XRP Ledger, a decentralized blockchain accepted for institutional use. Notable inventions like its Automated Market Maker (AMM) and RLUSD stablecoin are likely…
Filed under: News - @ December 8, 2024 8:08 am