The post Why XRP’s Price Action Is Turning Heads: $50 Target Ahead appeared on BitcoinEthereumNews.com.

XRP’s technical analysis points to a potential $50 price target by early 2025. Analysts highlight bullish momentum supported by RSI and EMA trends in XRP price charts. XRP’s bi-annual and quarterly trends suggest sustained growth and low reversal risk. XRP’s price could explode soon is what technical analysis from EGRAG CRYPTO shows. The analyst explains how the next 10 days are decisive for its future and that it might reach $50 by early 2025. The chart patterns, from yearly to bi-monthly candles, suggest the next phase of price action could be explosive, with massive growth in the coming months. #XRP – High Timeframe (HTF) Analysis: TRUST ME, U’RE NOT #BULLISH ENOUGH, EVEN THE OGs 😎 Time for a Thread 🧵 (1/7) The next 10 days are crucial for #XRP. From a Pure TA perspective (ignoring fundamentals for a moment), this could be the most pivotal price action in XRP’s… pic.twitter.com/Hrx225lglT — EGRAG CRYPTO (@egragcrypto) December 20, 2024 Yearly Candle: A Key Price Level to Watch The 12-month candle helps people understand XRP’s long-term trend. If XRP closes above $1.99, that would be a significant milestone. This level is the body closure of the 2017 yearly candle. A close above this price would be historic and would signal that XRP is in a new phase. This move has substantial implications, especially when you consider the potential for increased demand and higher price elasticity. Price Elasticity and Demand Absorption Demand dynamics influence XRP’s price behavior. When the price increases, demand often stays inelastic, which means buyers keep buying despite the higher cost. FOMO (fear of missing out) and investor expectations of further price increases drive this. But as the price goes up, some buyers may hesitate, and demand can become more elastic. Rising utility, increased institutional involvement, and ETFs can help keep…

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Filed under: News - @ December 21, 2024 7:23 am