XRP price saw a significant increase of 190% in November 2024, reaching a peak of $1.63 after trading above $1 for the first time in three years. This surge was attributed to growing market interest and large wallet accumulation, particularly from institutional investors. Analysts have linked the rally to positive market sentiment, sparking debates on whether XRP will surpass its previous all-time high.
Crypto analysts have identified $1.63 as a key resistance level for XRP, with a potential push towards $2 if this level is breached. Technical indicators like the MACD and RSI show a strong bullish pattern supported by whale accumulation. Market analyst Dark Defender emphasized the importance of XRP staying above the Fibonacci level at $1.44 to maintain bullish momentum towards $1.63.
Looking ahead, Dark Defender’s XRP price prediction suggests a target of $1.88 after breaking through the $1.63 resistance. The upper and lower Bollinger Bands on the 24-hour chart indicate high volatility, with a possible overbought signal near the upper band. Whales have been actively buying XRP, leading to a rise in holdings by over 700 million tokens in November, signaling confidence in the asset’s potential move towards $2.
Technical analysts point out the formation of symmetrical triangles in the current chart, which historically precede major price swings. Market analyst Mikkybull highlights the importance of holding support levels at $1.44 for the bullish trend to continue, as breaking through the $1.63 resistance could lead XRP towards the $2 range. At the time of writing, XRP is trading at $1.61 with a 24-hour change of 10%, indicating sustained investor interest in the asset.
In conclusion, XRP’s recent price surge to $1.63 in November 2024 has sparked optimism among analysts and investors for a potential move towards $2. The asset’s positive momentum is supported by whale accumulation and technical setups, with key resistance levels identified for further price movement. As debates around XRP’s price prediction continue, market sentiment remains positive, leading to increased interest and trading volume in the asset. With sustained bullish momentum and support levels in place, XRP could be on track for further gains in the near future.
