XRP, the cryptocurrency associated with Ripple, has surpassed the $1 mark for the first time in over three years. This has led to optimism about the long-term sustainability of XRP, with an analyst predicting further upside for the asset. XRP's dominance in the cryptocurrency market has also reached a significant milestone at 1.66%, which has historically led to upward movements. The analyst suggests that if this trend continues, XRP's market capitalization could reach $444 billion, with a potential price of approximately $8. Technical analysis and harmonic patterns also indicate a potential upward trajectory for XRP, targeting levels near $2. The speculation about more crypto-friendly policies under the incoming Donald Trump administration is also adding to the bullish outlook for XRP. However, caution is advised as XRP's 14-day relative strength index (RSI) is signaling possible short-term downward pressure or consolidation.
- Content Editor ( finbold.com )
- 2024-11-16
Why XRP could hit $8 after reclaiming a 3-year high