The post XRP Hits New Yearly High: Is a $10 Rally Next? appeared first on Coinpedia Fintech News
XRP has just broken through the crucial $1 level, experiencing an impressive 25.1% increase in the last 24 hours. This sharp rise has led many crypto enthusiasts to wonder how high this bullish momentum could push XRP’s price.
Could $10 be a realistic target? Let’s explore.
XRP Beats the Market
While the overall crypto market has slowed down after the surge post-U.S. presidential election, XRP has shown impressive growth. In the past 24 hours, Bitcoin and Ethereum have seen moderate gains of 2.4% and 0.3%, respectively, while Solana’s growth has dropped to 2.5%. Some major cryptocurrencies like BNB are even showing negative trends.
In contrast, XRP has surged by 25.1% in the last 24 hours and seen an 81.4% rise over the past week, standing out in the market.
XRP Market Analysis
XRP has reached a new yearly high, surpassing $1 for the first time since July 19, 2023. Back on July 13, XRP jumped from $0.4704 to $0.851, an 80.9% increase in just one day, following a favorable court ruling in Ripple’s legal battle against the U.S. Securities and Exchange Commission. On July 19, XRP hit $0.8196, setting a new peak for the year.
Now, XRP is trading at $1.0508, marking a fresh yearly high.
Analysts Predict Big Things for XRP
Several prominent crypto analysts, including Crypto Assets Guy and Edo Farina, had predicted that XRP would break the $1 mark today. Crypto Assets Guy even pointed out that whale activity in XRP could increase as investors start moving their attention away from other blockchain projects. He also mentioned plans to accumulate XRP and meme coins.
At the start of today, XRP was priced at $0.8917. Since then, it has surged by 16.72%.
Could FOMO Push XRP to $10?
Some analysts believe that if XRP can maintain its position above $1, it could start heading toward an ambitious target of $10. They suggest that surpassing $1 might trigger a “Fear of Missing Out” (FOMO) effect, leading to increased buying pressure that could push the price even higher.
XRP’s recent surge demonstrates its potential to break records and defy expectations. With ongoing bullish momentum, whale activity, and a possible shift in market dynamics, XRP’s journey toward $10 could be real.
Crypto investors and enthusiasts are watching closely to see what happens next.