A crypto analyst has shared a XRP price chartAnalyzing its action on the 4-hour timeframe shows key metrics of strength that suggest a potential rally. The analyst predicts that XRP is gearing up for a significant run to $11, marking a new all-time high (ATH).
Key metrics suggest XRP price set for $11 rise
In an X (formerly Twitter) post On Tuesday, leading crypto analyst Jevon Marks shared key observations Price behavior of XRPNoting strength indications by important parameters and a The possibility of a significant price rally for a new ATH at $11. Analysts have suggested that XRP shows clear upward momentum, with a sharp rise visible on the presented price chart.
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Looking at the chart, XRP has been breaking out recently Levels of resistance And maintaining a fast pace. XRP’s strongest resistance at $0.5, which lasted more than three years, was broken in early November, followed by a jump above $1. Donald Trump wins In the US presidential election. Currently, the XRP price is trading above $2.5, which represents the massive bullish growth experienced in less than two months.
Marcus has revealed that he has been closely watching alternative long-term metrics for the XRP price that indicate Potential increase in new ATHs. The volume bars below the price chart indicate steady buying pressure for XRP, with trading volume increasing during the uptrend.
Recently, the trend of accumulating XRP among large holders has grown significantly. Crypto analyst Ali Martinez revealed By a price chart that whales have bought a staggering 30 million XRP in the last 24 hours. This increased buying activity reflects growing confidence in XRP, presumably The sense of market bullishness and expectations of price increases.
Below is the XRP chart shared by Marcus, Relative Strength Index (RSI) A sharp upward curve indicates the possibility of a bull rally. The RSI appears as a fluctuating black line, which clearly indicates rising momentum. If XRP can maintain its current uptrend, it could surpass the current all-time high of $3.84 set during this time. 2021 bull marketPotentially reaching a new high above $11 in this bull cycle.
Update on XRP analysis
XRP price is constantly trying to break Resistance area at $2.5Aim to reach new heights. Over the past month, XRP has had an impressive performance, with a 119.5% increase in price. in spite of Being in integrationThe cryptocurrency continued to display strong growth, with its price climbing nearly 8% over the past seven days as it attempted to break through key resistance levels.
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Data from CoinMarketCap revealed that the XRP price is currently trading at $0.252. The cryptocurrency remains the third largest by market capitalization after Bitcoin and Ethereum. Additionally, XRP has seen a significant increase in its daily trading volume, increasing by 53.72% at the time of writing.
Featured image created with Dall.E, chart from Tradingview.com
