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- XRP’s Fibonacci milestones at $5, $10, and $15 pave the way for its ultimate $30 technical target.
- Declining Bitcoin dominance and XRP’s 300% outperformance against BTC signal bullish conditions for further gains.
Ripple’s XRP has been on a remarkable upward trajectory, gaining momentum despite lingering legal uncertainties. The SEC’s appeal following Ripple’s settlement hasn’t dampened investor confidence, with XRP maintaining its classification as a non-security.
Over the past five weeks, XRP’s price has climbed significantly, moving from $0.50 to nearly $3. Analysts suggest this bullish momentum could continue into 2024 and 2025. As shared in a recent tweet by MackAttackXRP, Ripple (XRP) is outperforming Bitcoin, raising questions about whether the bulls can reach the $30 technical target.
Ripple (XRP) Price Prediction: XRP Outperforms BTC; Can the Bulls Hit the ‘Technical Target’ $30?
XRP Rally Continues: XRP surges to $2.60 with five weeks of gains; analysts target $30 this cycle as legal clarity boosts investor confidence.https://t.co/bipWhS1A96
— 🇳🇱 MackAttackXRP® 🇳🇱 (@MackAttackXRP) December 5, 2024
Analysts Eye $30 Target for XRP
Crypto analyst Steph is Crypto predicts a long-term target of $30 for XRP during this market cycle. Using Fibonacci extensions, key milestones are identified at $5, $10, and $15 before reaching the ultimate resistance level.
The first immediate hurdle is the 2018 high of $3.30, followed by the $5 range. Current prices around $2.60 are seen as a strategic entry point for long-term investors.
Will Bulls Achieve the $30 Technical Target?
A recent CNF update revealed that an XRP price of $20 is possible, with analysts drawing comparisons to Bitcoin’s 2017 levels. Additionally, Bitcoin’s declining dominance since September 2022 may signal the onset of an altcoin season, creating favorable conditions for XRP and similar assets.
XRP’s recent 300% outperformance against Bitcoin underscores its growing strength. Analysts foresee a potential 51% surge if XRP breaks key resistance against BTC. As of now, Ripple (XRP) is trading at $2.26, reflecting a 6.14% daily decline but a 36.66% surge over the past week.
