- XRP has reclaimed the third position after surpassing Solana and USDT following a 370% monthly surge, reaching $2.42.
- Analysts predict XRP could break its all-time high of $3.84, with some forecasting a rise to $5.30
XRP has caught heightened attention as the crypto community watches the digital asset blaze through the crypto market. Upon entering the weekend, XRP scorched the competition, leaving a trail of bullish gains in its wake.
Friday saw XRP experience a remarkable surge of 28% which left the asset trailing all the way up to trading with $2.50. XRP has shattered the crypto chains, roaring past the $2 mark and claiming the coveted third spot on Satoshi Street, dethroning crypto titans like Solana and USDT. With a market cap that’s hit an all-time high of a staggering $136 billion, XRP is rewriting the history books.
At the time of writing, XRP is swapping hands with $2.42 marking a 29.58% and 65.60% surge in the past 24 hours and week respectively. On a broader scale, the digital asset has experienced a 370.93% in the past month. Additionally, its market cap has surged to $137.64B after a 29.37% surge.
This surge has seen the digital asset treading all the way to the third position surpassing Solana and stablecoin giant USDT.
Analyst Forecasts Record-Breaking Price for XRP
XRP has captured the crypto community’s attention at large. Market participants believe XRP could be on the verge of outwitting its all-time high of $3.84 which was attained early January 2018. In fact, some have even broadened the scope speculating on the digital asset’s ability to exceed current market valuations treading all the way to $5.30.
One popular crypto analyst took to the X platform showcasing his great enthusiasm on XRP. Talking to his 63.4K followers, suggested that the digital asset could potentially reach the $5.30 mark.
#XRP – Listen Up! I’m a PERMABULL:💪🐂
Here’s the Plan:
If you’re looking for a 2017-style rally, then prepare for the power of 2017-style corrections too.Here’s the potential scenario:
🔹 If this pump mirrors 2017’s first major surge (+1,273%), we could hit $5.2–$5.3. 🌟
🔹… pic.twitter.com/cW66Kt6uUo— EGRAG CRYPTO (@egragcrypto) November 29, 2024
Still on the same, the chart from EGRAG points out two symmetrical triangle formations in XRP’s history. The first triangle spanned from December 2013 to March 2017.
During this period, the digital asset experienced a breakout that led to a staggering 287% increase in just one month. This breakout was a precursor to XRP’s meteoric rise, which culminated in a peak of $3.31 in January 2018.
On the same, the analyst highlighted that the second triangle emerged after XRP’s decline from the $$3.31 peak. This pattern has persisted for seven years. However, November 2024 has brought renewed optimism, as the digital asset has recorded a remarkable 270% gain this month. Analysts believe this surge could mark the beginning of a breakout similar to the one from 2017.
Analyst Sees XRP Outpacing Ethereum
Another notable analyst, Bitboy, has also come forward with a bullish prediction for the digital asset. Via a tweet on the X platform, Bitboy thinks that the digital asset will rightfully take its own place behind Bitcoin after flipping Ethereum.
$XRP has flipped $BNB, and it's just a quick, easy pump away from flipping $SOL. $ETH you can run, but you can't hide!
— The BitBoy (@BenArmstrongsX) November 29, 2024
His affirmations can be supported by XRP’s recent rally which has seen the digital asset return to its pre-SEC lawsuit position. Historically, XRP held the second spot behind Bitcoin (BTC) until the SEC’s 2018 Hinman speech, which classified Bitcoin and Ethereum (ETH) as non-securities under the “sufficiently decentralized” framework. Back then it was trading much above other rivals like Solana, USDT, BNB Coin, etc.
Ethereum’s market cap surpassed XRP’s in November 2018, reshaping the crypto rankings.
