XRP price ended the month of December at around $2.08 after a back and forth period between gains and declines. Although it ended above the $2 mark in December, the XRP price went through a bullish period in the first half of the month, which saw it peak around $2.9, its highest price in six years.
Despite ending the month down 28% from this six-year peak, XRP still achieved the highest monthly candlestick body in its history. This interesting phenomenon was noted by Crypto analyst Tony Severino, who also suggested that the XRP price is on track to reach $13 this cycle.
XRP price completes highest candle body close in history
XRP ended December with a 6.94% gain from where it started, followed by a surprise 281.7% gain in November. Data from CryptoRank. This period of price growth brought XRP considerable attention from crypto analysts and investors, with various predictions of continued bullish momentum through 2025.
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However, of Bitcoin Failure above $100,000 The price mark seems to have stopped XRP’s momentum Along with many other cryptocurrencies. This led XRP to spend the second half of December in a correction and consolidation path. however, The bullish trajectory remains valid As for XRP, this is also being voiced with recent technical analysis by crypto analyst Tony Severino.
XRP price hit its current all-time high of $3.40 in January 2018 but closed the month at $1.124 to kickstart consecutive bearish candles on the monthly timeframe. As mentioned by Tony Severino on XRP monthly candles, December 2024 was the highest monthly close for XRP price.
Although the cryptocurrency failed to break its current all-time high during December, it managed to achieve this important milestone. While this is not a technical indicator, it does give voice to the long-standing bullishness surrounding the XRP price, which has prevented further price declines below the $2 mark.
Technical analysis points to a $13 price target
Crypto analyst Tony Severino also highlighted An interesting technical pattern is playing out on XRP’s daily candle time frame. According to analysts, a bull flag appears to be emerging after XRP’s price correction in December.
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The bull flag pattern identified by Severino is a technical setup that is often associated with significant price increases. It is characterized by upward momentum in November, followed by a period of consolidation in a down-sloping channel in December.
A breakout above a bull flag pattern is usually a Continuation of the initial rally. In the case of XRP, Tony Severino predicted a breakout that would push XRP to $13 in the coming months.
At the time of writing, XRP is trading at $2.37 and is up nearly 12% in the last 24 hours. Reaching the estimated $13 target would represent a 450% gain from the current price level.
Featured image created with Dall.E, chart from Tradingview.com
