XRP Price Prediction: Is A 160% Jump To $2 On The Horizon?

• XRP price has jumped more than 60% in the last 7 days.
• The analyst sees a potential upsurge toward $2 in the following sessions.

Ripple’s (XRP) crypto has garnered much attention and skyrocketed beyond the $1 mark for the first time since March 2018. The XRP price formed a strong base around the $1.00 level. Moreover, it triggered a sharp rise, surging more than 60% in the last 7 sessions.

XRP price has crossed the 50% Fibonacci hurdle and aims to move above the swing high of $1.27. The bulls have regained their strength, and bears have seemed absent in the last few sessions.

The XRP crypto traded at $1.11 when writing, noting an intraday decline of over 3.20%. Its market cap was $63.23 Billion, and its total supply was 99.99 billion.

Massive Upside Ahead: Analyst Projects 160% Growth

SBZung is a popular market analyst. The analyst outlined that the XRP price could reach $2.82 in the future. This happened as it rose above the $1.069 Fib resistance level.

Can XRP get back on top of 1.069?
If so, then +160% to 2.82 is my next target above. pic.twitter.com/yoYUjt4l2k

— Tracker (@EWTracker) November 17, 2024

According to SBZung, the XRP crypto has gained bullish momentum and made a firm bottom around the $1 level. The next upward target set was almost 160% up to $2.82. The $0.87 may act as a demand zone if any reversal happens.

Likewise, TallGuyTycoon said that the Elliott wave analysis indicates a massive upsurge next. He added that if the XRP price surges past the $1.80 mark, a swing toward the $3.80 can be anticipated next.

Gensler's exit + Elliot Wave patterns signal a huge $XRP breakout.

Key break points: $1.33 & $1.88.

After $1.88, it’s a clear path back to the ATH of $3.84.

Targets: $8-$30. Last time we saw this setup, #XRP skyrocketed.

Don’t miss it. #XRP #XRPArmy pic.twitter.com/aDOuceBQAH

— Armando Pantoja (@_TallGuyTycoon) November 19, 2024

Per the Fib levels, the 61.8% level was close to $1.60. The bulls aimed to cross this mark in the following sessions.

XRP Price Prediction: Will Bulls Maintain Their Dominance?

The on-chain data supported the bullish argument for XRP price. This happened as large volumes remained at critical price points. Tokenicer, an on-chain researcher, stated that big buy orders of $1.15 Million at $1 and $1.06 Million at $1.01 are enough for XRP to go up.

The price action indicated that the XRP price had surpassed the $1 barrier with a massive volume surge. This replicated that the bulls have grabbed strong support at $1. In case of any declines to $1, a strong pullback from the $1 mark could be anticipated.

The Relative Strength Index (RSI) line stayed at 81 at press time. That implied a bullish stance. A positive divergence was noted on the chart. Furthermore, the On-Balance Volume (OBV) reported a massive spike. That resembled sharp accumulation.

Moreover, the Chaikin Money Flow (CMF) reading pointed toward a surge in liquidity. This fueled the price increase.

The XRP crypto has climbed beyond the significant EMA lines and lifted to the 52-week high region. Current positioning has guided a bullish XRP price prediction. Also, it suggested a significant outperformance on the horizon.

Amidst the bullish market sentiment, a cross above $1.27 would permit the bulls to catch $1.50 and $1.80 in the following sessions. Meanwhile, a rejection from the $1.20 mark may see a drop toward the $1 mark.

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.