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Top Analyst Says XRP Will Reach New ATH Sooner Than Expected

source-logo  thecryptobasic.com  + 1 more 23 November 2024 04:50, UTC
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Market watchers believe an all-time high ($ATH) for $XRP might just be around the corner—much sooner than most people envision.

$XRP has continued to solidify its position in the $1 range, with a 28% surge today, pushing its price to $1.43. This latest price movement has boosted $XRP’s two-week performance to a massive 170% gain.

With $XRP showing strong determination to break its 2021 cycle high, market analysts believe the journey to a new $ATH has already begun. Among those voicing this optimistic view is “CrediBULL,” who boasts a following of 436K on X. According to CrediBULL, $XRP is likely to reach a new $ATH much faster than most expect.

$XRP to Outperform Bitcoin and Ethereum

Furthermore, he expressed the bold opinion that $XRP will significantly outperform both Bitcoin and Ethereum, the two market leaders, from its current price levels.

On short-term timeframes, $XRP is outperforming both Bitcoin and Ethereum in terms of price appreciation. For instance, Bitcoin is up by 55% over the past 90 days, while Ethereum has gained 21%. In contrast, $XRP has surged by an impressive 94% over the same period.

However, Bitcoin is trading near an all-time high of around $99K, and Ethereum is down just 32% from its peak. $XRP, on the other hand, is still trading 63% below its six-year-old all-time high. Despite this, analysts believe that $XRP’s days below its peak are numbered.

In his analysis, CrediBULL pointed out that the $XRP/$ETH pair has just reclaimed and retested a four-year-long range, with the first target potentially being about 250% higher.

Currently, the $XRP/$ETH pair stands at 0.0004390, up by +18.14%. CrediBULL projects a further increase of 246%, bringing it to 0.0008357 $ETH by the end of 2025. He envisions an even more promising outlook as the years progress.

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Bullish Signal on $XRP/USD

Meanwhile, looking at the $XRP/USD pair, CrediBULL pointed out that $XRP’s monthly RSI is about entering the overbought region for the first time since 2021.

“This is extremely bullish,” he said. He explained that contrary to popular belief, a higher RSI typically signals stronger momentum and a more bullish outlook for the asset—provided there are no bearish divergences.

As a result, he concluded that the next target for $XRP is $2, and after that, it’s aiming for a new all-time high.

thecryptobasic.com

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