XRP Price Ready To Run To $11 ATH? Alternative Larger Metrics Show The Answer

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As a seasoned analyst with over two decades of experience in traditional finance and digital assets, I have witnessed numerous market cycles and bull runs. While I am always cautious about price predictions, I must admit that Javon Marks’ analysis of XRP‘s potential surge to $11 catches my attention. The key metrics he points out, such as the steady buying pressure, increased accumulation among large holders, and the RSI curve, are strong indicators of a bull rally.

A crypto analyst has shared an XRP price chart, analyzing its action on the 4-hour timeframe while pinpointing key metrics of strength that suggest a possible rally. The analyst has predicted that XRP is preparing for a significant run to $11, marking a new All-Time High (ATH). 

Key Metrics Suggest XRP Price Set For $11 Surge

On Tuesday, well-known crypto expert Javon Marks posted on X’s platform (previously known as Twitter) some notable insights about XRP’s pricing trends. He pointed out robust indications of growth through essential data points and hinted at a potential major surge toward a new all-time high ($11). The analyst believes that XRP demonstrates evident upward movement, showing a noticeable rise on the displayed price graph.

Examining the graph, it’s clear that Ripple (XRP) has been shattering its recent resistance points and sustaining a bullish trend. A significant resistance level at $0.5, which held strong for over three years, was breached earlier in November, propelling XRP beyond $1 after Donald Trump won the U.S. Presidential elections. At this moment, the XRP price is trading above $2.5, demonstrating the substantial growth spurt it has experienced within just under two months.

Marks has revealed that he was keeping a close watch on alternative larger-term metrics for the XRP price that signal a potential surge to new ATHs. The volume bars below the price chart indicate steady buying pressure for XRP, with increasing trading volume during upward trends. 

Over the past day, there’s been a considerable uptick in large-scale XRP acquisitions. As noted by crypto expert Ali Martinez using a price graph, whales have bought over 30 million XRP within this timeframe. This surge in buying activity might suggest an increasing belief in XRP, potentially driven by the market’s optimistic outlook and anticipation of a price surge.

According to Mark’s chart, the Relative Strength Index (RSI) at the bottom has a steep upward graph, suggesting an impending bull run might be on the horizon. This RSI line, which oscillates and is black in color, clearly shows increasing momentum. If XRP maintains its current upward trend, it may surpass its previous record high of $3.84 set during the 2021 bull market, possibly peaking above $11 in this ongoing bullish phase.

Update On XRP Analysis 

Over the past month, XRP has made a significant leap, surging by approximately 119.5%. It’s been consistently trying to push beyond the barrier of $2.5, hoping to set new price records. Currently, XRP is in a holding pattern but still demonstrating robust growth, as its value has risen by nearly 8% over the last week while it tests crucial resistance points.

Data from CoinMarketCap has revealed that the XRP price is currently trading at $0.252. The cryptocurrency remains the third largest based on market capitalization after Bitcoin and Ethereum. Additionally, XRP has seen a notable increase in its daily trading volume, surging by 53.72% at the time of writing. 

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2024-12-19 01:34