Popular Analyst Maps Ripple’s (XRP) Next Big Move.

TL:DR;

XRP recovered from its most recent price drop below $2, but the asset may not be out of the woods just yet. However, a popular crypto analyst suggested that a possible decline towards this level again could be beneficial for XRP’s long-term price movements. XRPUSD. Source: TradingView

Ripple’s cross-border token made a massive run after the US election, soaring by triple digits at one point and peaking near $3. All of these gains came within a few weeks, but the asset lost momentum in early December.

It fell sharply on several occasions in the following weeks, with the last drop to less than $2 last Monday, December 30. This occurred during the most recent market-wide correction.

However, the popular crypto-asset reacted well to this decline and has rallied more than 20% since then, currently hovering around $2.45. As a result, XRP has regained its place as the third largest cryptocurrency by market capitalization by surpassing Tether’s USDT.

According to analyst Ali Martinez, XRP is still below a pronounced resistance level at $2.73, which has halted its price increase on a couple of occasions during this rally. If the asset fails to break through it soon, it could fall back to $2.05.

However, Martinez actually believes that this scenario could be a blessing in disguise for XRP, potentially catapulting it to a new all-time high above $3.4 (CoinGecko data) and up to $11.

$XRP it is still consolidating within the pennant of a massive bull pennant pattern. Until the $2.73 resistance is broken, a pullback to $2.05 is possible before a possible break to $11! pic.twitter.com/ET39FJMtAc

— Ali (@ali_charts) January 4, 2025

It’s safe to say that $11 sounds pretty extraordinary for XRP. This price tag would put the asset’s market capitalization at more than $600 billion, which would help it overtake Ethereum in that regard. While this may seem plausible under a more lenient Trump administration, it is still a long way off and falls into the category of exaggerated price predictions.

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