CandleFocus Ripple Price Analysis: Can XRP Skyrocket to $2 by the Year’s End?
2024-11-24
Author: Content Editor
Ripple's price has been showing strong bullish momentum as buyers dominate the market. The cryptocurrency has been steadily approaching the milestone of $2, with the possibility of reaching it by the end of the year growing. After a significant sell-off following the SEC lawsuit, Ripple experienced a period of consolidation. However, buyers returned and pushed the price through key resistance levels, bringing it closer to a local peak of $1.9. While bullish sentiment remains strong, caution is advised due to overbought conditions. A brief consolidation or correction may occur before upward momentum resumes, with $1.3 as the main support level. On the 4-hour timeframe, Ripple experienced a breakout from a sideways triangle pattern, signaling a bullish continuation. The cryptocurrency has reclaimed the $1.3 threshold and is aiming for $2. However, bearish divergence and supply near the $1.9 resistance zone suggest a possible consolidation phase in the near future. This pause could allow the market to stabilize before Ripple attempts new highs.
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