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The XRP price plunged 8% in the last 24 hours to trade at $2.37 as of 04:58 a.m. EST on trading volume that dropped 26% to $30.8 billion.
This follows a prediction by pseudonymous X user KingXRP, who suggests that XRP has recently formed a bullish triangle, indicating the Ripple price could surge to $54 in the coming days and reach $10 within the next 48 hours.
XRP price chart forms Bullish Triangle Projecting #XRP at $54.24 within a few days and $10 within next 48 hours. pic.twitter.com/LatSWVMqKT
— KingXRP (@MRKingXRP) December 4, 2024
Is this scenario likely to occur?
XRP Price Still Gearing Up Towards A Sustained Rally
The XRP price analysis shows a recent bullish breakout, as evidenced by the sharp upward movement in late November and early December. However, the recent pullback from the $2.85 level suggests profit-taking or a short-term correction, according to GeckoTerminal data.
Despite the slight pullback, the price of XRP still trades above both the 50 and 200 Simple Moving Averages (SMAs) on the 4-hour chart, showing that the asset is still on an upward trend.
Meanwhile, the Relative Strength Index (RSI) is at 51.29, which is neutral. This indicates that the market is neither overbought nor oversold, aligning with the current consolidation phase after the strong uptrend.
The Moving Average Convergence Divergence (MACD) line (0.0894) is above the orange signal line (-0.0689), but the histogram shows decreasing momentum, reflecting the price correction phase.
The XRP price may continue to consolidate in the range of $2.30 to $2.50, as the indicators suggest reduced momentum. If selling pressure intensifies, the Ripple price could test the next support around $2.00, which was an accumulation zone previously.
Conversely, if the price of Ripple maintains its position above the SMAs and the RSI climbs above 60, the bullish trend could resume, targeting $3.00 or higher.
As the XRP price aims for a continued surge, some investors are turning to presale meme coins like the newly launched Flockerz (FLOCK) for more explosive upside potential.
According to 99Bitcoins, a popular crypto channel on YouTube with over 706K subscribers, FLOCK has the potential to soar 100X after its launch.
Flockerz Raises Over $4.5 Million In Blockbuster Presale, Closing On $5 Million
Flockerz has raised over $4.5 million in its ICO as it continues its mission to put the power back in the hands of the crypto community.
Armed with the first-ever vote-to-earn (V2E) mechanism, propeller-beanie-wearing feathered friends are taking flight in the crypto stratosphere, driven by eager investors hungry for control over their meme coin holdings.
Even if everything's burning around you.
You're always okay when you're with the flock! pic.twitter.com/dDeu98Flob
— Flockerz (@FlockerzToken) November 19, 2024
The underlying framework of Flockerz is anchored in a decentralized autonomous organization (DAO) called Flocktopia, where every holder’s voice matters.
To participate in the voting process, users must buy FLOCK tokens. When a new suggestion is presented, members of The Flock vote.
Apart from V2E rewards, users can earn passively through the platform’s staking mechanism, with a sky-high annual yield of 551%.
Investors interested in joining the presale can visit the official Flockerz website to buy FLOCK tokens at the current price of $0.0062494 each using BNB, ETH, or USDT.
You can also make a purchase using your bank card. Buy before a price hike in slightly more than 2 days to secure the best deal.
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