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The XRP price surged 13% in the last 24 hours to trade at $2.745 as of 11:17 p.m. EST on trading volume that skyrocketed 56% to $48 billion.
The surge comes after whales and retail investors accumulated more than $1.6 billion in tokens in the last month. XRP skyrocketed 438% in November, and one analyst indicates that its price target could yet soar much higher.
According to Jacob Canfield, an independent crypto trader, XRP could still rise with a 100% jump from its previous all-time high of $3.40 to a price of around $6.60.
The only difference between this $XRP move and those in the past is the price of Bitcoin is 5X higher than it was in 2017.
If we use Canfield Fibonacci extensions to give us an idea of where this move may take us, it would be at the 11.09 fib exension.
This would put the price… pic.twitter.com/fNYay1eFLF
— Jacob Canfield (@JacobCanfield) December 2, 2024
XRP Price Aims For A Continued Surge
In most parts of the year, the XRP price has been in a continued consolidation around the $0.53 zone. However, in November, the bulls seem to have capitalized on this support to push the price up through a parabolic curve, as the bulls aim to sustain the uptrend, according to data fro GeckoTerminal.
The price of XRP, according to the 1-day timeframe, now trades well above the 50-day and 200-day Simple Moving Averages (SMAs), which supports the continued upward trend.
Meanwhile, the Relative Strength Index (RSI) is at 95.08, which is extremely overbought. RSI above 70 suggests overbought conditions, and readings above 90 typically indicate that the asset might be overheated and due for a pullback or consolidation. However, in strong trends like this one, RSI can stay overbought for extended periods as momentum builds.
The Moving Average Convergence Divergence (MACD) line (blue, 0.4410) is above the signal line (orange, 0.3085) and is in positive territory, signaling strong bullish momentum. The green bars on the histogram are also extending above the neutral line, supporting the general positive trajectory of the price.
XRP Price Prediction
The general Ripple price outlook suggests the continuation of the bullish momentum, as the main indicators support the bullish sentiment. If the XRP price continues to surge, the bulls could push the price of XRP above the $3 psychological resistance, as they target the next possible resistance at $3.5.
Conversely, as the RSI shows that the asset is currently overvalued, there could be an incoming price correction. If the bears push the Ripple price down, the support around $1.32 could act as a cushion against downward pressure.
Meanwhile, as the XRP price soars, the Pepe Unchained (PEPU) presale is another token on a tear after blasting past $66.4 million in funds raised.
YouTube channel 99Bitcoins, with over 706K subscribers, says it has the potential to turn $1k into $10k after launch in about 10 days.
Pepe Unchained Presale Enters Last 10 Days Amid Exchange Listing Speculation
Pepe Unchained continues to gain momentum in the meme coin space and is now easily the most successful meme coin presale of the year.
As its name suggests, the project aims to free Pepe from the limitations of his old, cumbersome Layer 1 server. The project will operate on its own proprietary Ethereum Layer 2 blockchain, promising a more efficient and scalable solution with faster transactions and lower costs.
This positions it as a formidable competitor to its predecessor, Pepe, as it aims to become the leading frog-themed meme coin in the market.
Token holders can also earn passively through the platform’s staking system, which offers an annual percentage yield (APY) of 55%.
There are only 10 days before the project ends, followed by listings on Tier 1 exchanges.
Could PEPU be the next crypto to explode after potential listings on major exchanges like Coinbase and Binance?
We’ve been approached by several Tier 1 exchanges interested in $PEPU.
While this is an exciting opportunity that will boost visibility and liquidity, it also requires careful planning to ensure the best possible launch.
— Pepe Unchained (@pepe_unchained) September 18, 2024
The original Pepe itself experienced massive gains after listings on Coinbase and Robinhood recently.
You can buy $PEPU tokens from the official website here for $0.01295 using ETH, USDT, or a bank card.
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Most Searched Crypto Launch - Pepe Unchained
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