A market expert has predicted a possible timeline for XRP to reach $5 and then rise to $30, citing past price movements.
XRP’s recent price action has reignited optimism about its prospects. A week after return to $1 price territory For the first time in almost three years, the XRP rate has increased even more. The token is now targeting the $2 region as it is currently changing hands at $1.55 amid a 59% gain for the week.
Could XRP close above $2 in November?
In its last market commentThe CryptoBull analyst highlighted the importance of XRP targeting $2 and closing above that mark in November. For context, this price would be a nearly 7-year high, as XRP was previously priced at $2 in January 2018. XRP’s attempt to break $2 met resistance at $1.96. mark.
However, some believe the $1.96 area could lead to this bullish rally on the back of a favorable regulatory environment and more capital infusion. According to CryptoBull, if XRP returns $2 and closes November above that mark, that would represent a monthly gain of 288%, XRP’s highest monthly gain in seven years.
Notably, at the current price of $1.55, XRP is already up 203% this month. Monthly closing above $2which represents a 288% gain would be reminiscent of the asset’s price action in March 2017, when it erupted during the 2017 bull rally. For comparison, in March 2017, XRP rose from $0.0056 to $0.0214, an increase of 284% in a month.
XRP growth chart to $5 and $30
CryptoBull believes that if XRP repeats this increase with a close above $2 this month, price action could indicate this. is mirror image bull run 2017. Interestingly, the 2017 bull run saw huge gains following the bullish performance in March, as XRP surged another 15,367% to $3.31 by January 2018.
If he follows this path, more benefits can be obtained. on the horizon. CryptoBull predicts that if the trend continues, XRP could more than will double its price in December and ultimately close the month at $5. This will be a new all-time high.
Meanwhile, CryptoBull sees XRP hitting a higher target after announcing a new ATH of $5 by the end of December 2024. According to the analyst, the altcoin could reach a double-digit price of $30 by the end of January 2025.
A price of $30 would represent a significant increase of 1,835% from the current value of $1.55, which is still significantly lower than the 15,367% gain XRP achieved in 2017. However, this $30 price would increase XRP’s market cap to $1.7 trillion, slightly lower than Bitcoin’s $1.9 trillion valuation. . This shows the significant capital inflow required to reach the $30 level.
