XRP price has registered a strong rally this month, gaining significant attention from investors amid the broader crypto market’s uptrend. Currently trading at $2.41, XRP has risen by 258% in the last 30 hours, supported by both technical and fundamental factors. Analysts have highlighted potential price milestones for XRP price, with predictions ranging from $5 to $20, depending on market dynamics.
Bullish Patterns and XRP Price Predictions
Crypto analyst Ali Martinez observed that XRP is “forming a bull flag” but warned of a potential brief correction. “The TD Sequential recently presented a sell signal on the 4-hour chart,” Martinez stated, suggesting that XRP could retreat slightly before attempting a breakout. According to Martinez, the key target after this correction would be $2.46, with a possible surge to $4.
$XRP appears to be forming a bull flag! Still, the TD Sequential recently presented a sell signal on the 4-hour chart, which leads me to believe #XRP may see a brief correction before a breakout above $2.46 that could send the price to $4! pic.twitter.com/L8zwMYT1Rb
— Ali (@ali_charts) December 12, 2024
Another prominent analyst, Dark Defender, noted that XRP is completing an ABC corrective wave pattern on the daily chart. “It will be confirmed if XRP breaks $2.52,” Dark Defender wrote, predicting a breakthrough within 24 hours. He outlined a short-term XRP price target of $5.85, followed by a long-term goal of $18.22.
RLUSD Launch Sparks Optimism
Ripple Labs’ announcement of the NYDFS approval for its RLUSD stablecoin has added fuel to XRP price’s bullish momentum. Ripple CEO Brad Garlinghouse shared on social media, “This just in…we have final approval from NYDFS for $RLUSD! Exchange and partner listings will be live soon – and reminder: when RLUSD is live, you’ll hear it from Ripple first.”
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The RLUSD stablecoin is expected to play a crucial role in Ripple’s ecosystem, with XRP facilitating its liquidity and supporting transactions. This integration is anticipated to elevate XRP’s demand, as the asset will be utilized for buying, selling, and settling transactions while serving as collateral for stablecoin issuance.
The approval announcement has intensified speculation around XRP’s future performance. Historical data shows XRP surged by 491% from late October to early December, a trend many believe could repeat following RLUSD’s official launch. Analysts forecast short-term gains of 150%, with prices reaching $5-$6. Medium-term targets hover around $8-$10, while long-term predictions suggest XRP price could climb to $15-$20, representing a 500% increase.
Broader Catalysts for XRP’s Growth
XRP’s upward trajectory is supported by factors beyond the RLUSD launch. Regulatory clarity, especially in the SEC lawsuit, could significantly enhance investor confidence. Additionally, Ripple’s partnerships with financial institutions and corporations strengthen XRP’s use case for cross-border payments and remittances.
Advancements in XRP Ledger technology and DeFi applications further enhance the asset’s utility, positioning it as a critical player in the cryptocurrency market. Broader market trends, including Bitcoin’s resurgence past $100,000, are also expected to create a favorable environment for XRP and similar assets.
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Also Read: Ripple’s Stablecoin RLUSD Officially Approved, XRP Bullish Too!
