XRP Still Below Its All-Time High As Crypto Explodes 107%, Psychologist Says

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As a seasoned analyst with over two decades of market observation under my belt, I must admit that the current surge in Ripple’s XRP is nothing short of remarkable. Having closely followed the crypto market since its inception, I can confidently say that this altcoin has shown an unprecedented level of resilience and potential.

For individuals who are crypto enthusiasts, market watchers, or simply following the news, it’s hard to miss the excitement surrounding certain cryptocurrencies. Alongside Bitcoin, which is flirting with a $100k price point, Ripple‘s XRP has been experiencing a significant surge: this alternative coin has seen an impressive 107% increase in value over the past week, according to data from Coingecko.

To grasp why XRP’s price has soared, let’s first look at its cost during the November 5th elections and its initial value for the year. Following Donald Trump’s victory, the coin struggled with a slow beginning, trading around $1.50.

Initially this year, its price stood at $0.61, marking a significant rise of 350%. Due to the upward trend of XRP, it has displaced Tether from the leading positions among cryptocurrencies based on market capitalization.

But if you think that Ripple’s XRP momentum is about to end, well – think again. According to Crypto Michael, a market psychologist, the altcoin is still trading below its potential peak, and he expects a bigger “FOMO” frenzy soon.

The craziest thing about this XRP rally is that it still hasn’t broken its ATH

Imagine what will happen when it breaks ATH and enters price discovery

They laughed at me when I called for a major breakout back at $0.5

I think it’s time you stopped underestimating this coin

— Crypto Michael (@MichaelXBT) December 2, 2024

Ripple’s XRP Is Having A Moment

Currently, XRP is considered one of the most buzzworthy cryptocurrencies, surpassing the returns of Bitcoin and Ethereum. At present, it’s being traded at approximately $2.73, maintaining its price above $2.50. Interestingly, last month, its value was close to the $0.60 mark before the elections, indicating a staggering increase of over 400% within a single month.

The significant surge in XRP’s price has sparked a lot of interest among investors, analysts, and psychologists alike. Notably, Crypto Michael – known for his optimistic predictions on XRP – recently voiced his opinions on the current market trends. In a recent tweet, he expressed that the exciting times for XRP might still be in store.


Altcoin To Break ATH And Enter ‘Price Discovery’

In the very same social media post which received over 72,000 views, Financial Analyst Michael (known as Crypto Michael) contended that the ongoing surge in XRP’s value hasn’t surpassed its previous record high. He further stated that if XRP manages to break this barrier and reach a new all-time peak, it would initiate a phase of price exploration, and any predictions or assumptions would be invalidated.

Is It FOMO Time For Ripple’s XRP?

The analyst further encouraged everyone to envision a situation where XRP achieves yet another record high, initiating a price discovery phase. Michael believes that such an event could trigger a panic of missing out (FOMO) among investors if it occurs.

Criticism persists towards Crypto Michael’s persistent bullish stance on XRP, but the market analyst remains steadfast in his belief. On August 10th, he predicted a $2 price point for XRP. With the recent surge, however, Michael has reconsidered and chosen to maintain his hold.

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2024-12-04 05:10