By Michael Scott
Market commentators boldly dismiss below the $1 price for XRP as they issue a timeline for the $5 and $30 target.
With the XRP sustaining the bullish streak, market analysts are confident that XRP will never revisit the $1 price range. A prominent millionaire mentor considers the XRP is advancing further towards the $2 level as it solidifies its exchange within the $1 price range.
In a recent update on X, Bearable Bull dismissed the possibility of the crypto community witnessing XRP price plunging below $1 again. The mentor analyst acknowledged the 13% rally lifted the XRP price to $1.57, though a slight pullback after setting its year-long peak at $1.62. The analyst cited the bull frenzy that garnered steam on Friday to settle XRP within the $1.50 range.
Bearable Bull recounts that XRP was trading at $1.082, only for the bulls to push the asset further into the $1.50 range. This implies that the XRP grew by $49.70 % in under 48 hours. With technical indicators pointing towards the $2 range, Bearable Bull entertains the optimistic assertion that XRP lacks reasons to retest prices below $1.
XRP Ditches Under $1 Price
Bearable Bull voices the bold view that the prevailing crypto market lacks factors that could plunge the XRP below $1 again. Other commentators harbour a similar perspective that XRP has reinforced its position within the $1 range. Nonetheless, some analysts have cautioned the prediction is an early call indicating a major correction could plunge the XRP’s price below the unit price range.
A look at the charts shows that XRP is blasting into the $1 range for the first time in three years. Specifically, the November 16 rally saw XRP trade at the day’s peak at $1.267. A pullback ensued, eroding a portion of the gains, though not enough for XRP to lose the $1 range.
Detailed scrutiny of the data shows XRP’s price action hinged dangerously at $1.055 on Sunday, November 17. Bearable Bull observes that since then, XRP has rebounded massively throughout the entire week. With a 5.3% uptick to reclaim $1.52, the asset now shows strong signs of sustaining the upward momentum.
XRP to $100 Billion Market Cap
The crypto community exhibits high optimism for XRP breakout led by John Deaton, who predicts it will reclaim the $100B market cap. The pro-XRP attorney noted that changing times have enabled XRP to navigate its unimpressive performance and rule out prices below $1.
Crypto analyst CrediBULL forecasts XRP will ultimately break its peak sooner than the community expects. Additionally, the analyst states the XRP will triumph over Bitcoin and Ethereum.
CrediBull observes that XRP is on course to outpace the market leaders in the ongoing bull run. Meanwhile, its 90-day growth of 127% dwarfs Ethereum’s 22% and Bitcoin’s 53%. The analyst acknowledges a huge opportunity for XRP growth, considering that it is 60% below the peak. Such compares favourably against Bitcoin, which is already at its peak, while Ethereum is 30% below the all-time high.
Can XRP Attain Above $2 in November?
The recent price action reignites optimism about XRP prospects, particularly after regaining the $1 price territory. The token appears to be eyeing the $2 region, a target within reach as the token bullish steam manifests in the double-digit growth over the past week.
In his market commentary on Friday, CryptoBull emphasized the essence of XRP closing above $2 this month. For context, attaining a $2 price is nearly a 7-year high last witnessed at the onset of 2018, as the past attempt met resistance at the $1.96 level.
A leap to the $1.96 region would affirm the bull run amid pro-crypto regulatory development and capital injection. Analyst CryptoBull considers the XRP reclaiming $2 would illustrate a 288% monthly gain. Such development is reminiscent of the price action in March 2017, when it grew 284% in a 30-day run from $0.0056 to $0.0214.
Timeline for XRP to Hit $5
Analyst CryptoBull notes that if XRP replicates the increase to trade above $2 by the end of November, it could mirror the 2017 bull run. The bull run yielded massive gains that fueled XRP to 15,367% to $3.31 in January 2018.
CryptoBull considers the path would position XRP on the horizon of doubling its price in December. Doing so would have XRP closing above the $5 price to mark a new peak. Additionally, the altcoin could test a higher upside of $5 by the end of 2024 and thereafter attain the two-digit price of $30 by January 31 2025.
The market analyst explains that the $30 price level would amount to a 1,835% upsurge from the current $1.55 price level. However, the price rally is minimal relative to the 15,367% gains accomplished in 2017.
CryptoBull is optimistic that the $30 price would lift the XRP’s market value to $1.7 trillion, $200 billion shy of Bitcoin’s $1.9 trillion. The path to $30 presents a monumental journey that requires substantial capital inflow for the XRP price to hit $30.