Ripple (XRP) has finally claimed the coveted price mark of $1. At press time, the token is stable at $1.14 after surging 9% in the last 24 hours. As Bitcoin soars to $89K, the overall market momentum is strong, favoring altcoins from all directions. Now that Ripple has claimed the ambitious $1 spot, one analyst has come up with another theory, adding how the current momentum and fervor could send XRP to claim $2 in no time.
Also Read: Nvidia Reports Q3 Earnings This Week: Will NVDA Stock Boom Continue?
XRP May Hit $2, Expert Shares
Source – FXEmpire
Ripple has finally breached its most ambitious and wanted price spot of $1. The token is currently driven by heavy attention, with the Trump administration fueling its price speculation. Trump has vowed to remove Gensler, speculations of which have played a vital role in pumping XRP. Now that XRP has claimed the $1 spot, Egrag Crypto, a noteworthy cryptocurrency analyst, has shared how XRP can also breach the $2 price mark.
In one of his recent posts, the expert dubbed the current price momentum of XRP as a psychological zone. The current momentum is capable of pushing XRP to either claim $2 or breakdown to trade at the $0.75 price level. Egrag Crypto emphasized how crucial it is for XRP to maintain its foothold on the $1 mark.
“#XRP: We Are in the Psychological Zone! ($2 or 0.75c): Right now, it’s make-or-break for #XRP! Either we fly high or face a major retest (0.75c) . Key Level: $0.75 is absolutely crucial. It was the pump zone before, but now it’s the level we must hold! If $1 doesn’t hold strong with a weekly open and close above it, my next target shifts to $0.75.”
The expert shared certain key markers, including the SSMP diagram, RSI, stock RSI, and MACD, to share how the XRP psychological zone is indeed a crucial juncture for investors to pay attention to. But if the token manages to hold on, it can easily break out to hit the $2 mark.
Also Read: Retail Investors Choose Dogecoin Over Bitcoin, New Poll Finds
XRP November Price Forecast
As per CoinCodex, XRP may hit another price high of $1.20 by the end of this month.
Image: CoinCodex
“According to our current Ripple price prediction, the price of Ripple is predicted to rise by 14.81% and reach $1.203172 by December 17, 2024. Per our technical indicators, the current sentiment is bullish while the Fear & Greed Index is showing 90 (extreme greed). XRP recorded 19/30 (63%) green days with 19.85% price volatility over the last 30 days. Based on the XRP forecast, it’s now a good time to buy Ripple.”
Also Read: Cryptocurrency: Top 3 Meme Coins To Explore Before Bitcoin Hits $100K
