Key Ripple Metrics Head North: Is the XRP Price Ready for Another Rally?
2024-11-28

TL;DR
XRP’s Resurgence
Ripple’s native token has been flying high recently, with its price jumping to a three-year high of $1.60 on November 23. In the following days, it headed south alongside the broader market correction, but the past 24 hours have been more than successful.
Currently, XRP trades at around $1.44, representing a 10% daily increase. Its market capitalization is well above $80 billion, positioning the asset as the sixth-largest in the entire sector.
The revival coincides with some important XRP-related metrics that have been on the rise recently. For instance, the XRP payments from one account to another soared above 1.2 million on November 26 (marking an 85% increase on a 24-hour scale). The number of executed transactions on the XRP Ledger (XRPL) has also pumped substantially.
This typically indicates increased activity and utilization of the network. It can also signal a growing interest in XRP, which could be followed by a further price rally of the underlying asset.
Crypto X is full of analysts expecting the bull run to continue in the following months. Dark Defender thinks XRP could spike to $1.63 if it surpasses the $1.44 resistance level.
“If we see 3 consecutive candle closes especially on 4-hour frame, then we consider a run towards $2 area! And that would be just the beginning of the beginning,” the trader added.
Mikybull Crypto also believes the price is headed to $2, while JAVON MARKS speculated that XRP could reach a staggering $99 if it mirrors its performance in the past.
It is important to note that the token’s market cap needs to skyrocket beyond $5 trillion for this to happen. Currently, the capitalization of the entire sector is less than $3.5 trillion, making the forecast quite challenging (to say the least).New ATH Before Christmas?
Other analysts who see a bright future ahead for XRP include the likes of CrediBULL Crypto and Crypto Assets Guy. The former recently suggested that the token’s valuation could head north to $1.60 “as long as BTC doesn’t ruin the party.”
The latter was even more bullish, envisioning a pump to $2 by the end of November and a new all-time high of over $4 before Christmas. Moreover, they assumed XRP could skyrocket to $10 during the first quarter of 2025.