XRP Price Prediction: Will XRP Skyrocket If It Breaches Its 2021 High?

Peter Brandt made a bold prediction that if the XRP breaches its 2021 high, the XRP price could surge significantly. XRP could initially hit $1.45 and later $1.95 in the coming days.

Veteran trader and technical analyst Peter Brandt made a bold prediction for XRP on November 18, 2024. In a post on X (formerly Twitter), Brandt highlighted that XRP had breached its 2023 high amid the recent price surge and was now approaching its all-time high from 2021.

XRP Price Prediction by Prediction By Peter Brandt

Moreover, he predicted that the XRP price could surge significantly if the altcoin breaches its 2021 high. Notably, the asset has already soared more than 125% since the pro-crypto Donald Trump was elected president of the United States.

This bullish prediction by industry experts is creating a buzz in the cryptocurrency space and has XRP holders on high alert.

Factors Influencing XRP’s Potential Surge

Many traders and investors might be wondering why the XRP price could skyrocket if it breaches its 2021 high. Well, here are a few potential reasons behind this positive outlook:

Bullish price action pattern

Heightened interest from traders and investors

Massive accumulation by whales and institutions

Current bullish market sentiment

Potential resignation of SEC Chair Gary Gensler

Speculation about a XRP Exchange Traded Fund (ETF) in the United States

XRP Technical Analysis and Upcoming Levels

According to our technical analysis, XRP recently broke out from a strong resistance level of $0.95 and has been consolidating in a tight range for the past 48 hours.

Now, if the altcoin breaches the upper level of the consolidation zone and closes a daily candle above the $1.2 level, based on the recent price action, there is a strong possibility it could soar by 18% to reach the $1.45 level. However, if the price sustains above the $1.50 level, XRP holders could soon witness it reaching the $1.95 level in the coming days.

It is worth noting that XRP is currently trading above the 200 Exponential Moving Average (EMA) on the daily time frame, indicating an uptrend. Meanwhile, its Relative Strength Index (RSI) suggests a potential price correction or decline in the coming days, as XRP’s RSI is in overbought territory.

Current Price Momentum

At press time, XRP is trading near $1.14 and has experienced a price surge of over 6.25% in the past 24 hours. During the same period, its trading volume dropped by 34%, indicating lower participation from traders compared to previous days.

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