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A crypto analyst has one XRP price chartanalyzing the action within a four-hour time frame while identifying key power metrics that suggest a possible rally. The analyst has predicted that XRP is preparing for a significant rise to $11, marking a new All-Time High (ATH).
Key stats suggest XRP price set to increase $11
In an X (formerly Twitter) after on Tuesday, prominent crypto analyst Javon Marks shared key observations of The price behavior of XRPnoticing signs of strength through crucial metrics and a potential for a significant price increase to a new ATH at $11. The analyst has suggested that XRP is showing clear upward momentum, with a sharp increase visible on the price chart presented.
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Looking at the chart, XRP has recently broken resistance levels and maintain the bullish momentum. XRP’s strongest resistance at $0.5, which lasted more than three years, was broken earlier in November, rising above $1 after Donald Trump’s victory in the American presidential elections. Currently, the XRP price is trading above $2.5, highlighting the massive wave of growth in less than two months.
Marks revealed that he was closely monitoring alternative long-term metrics for the XRP price possible increase to new ATHs. The volume bars below the price chart indicate steady buying pressure for XRP, with increasing trading volume during uptrends.
Recently, the XRP accumulation trend among large holders has increased significantly. Crypto analyst Ali Martinez revealed via a price chart it appears that whales have purchased as much as 30 million XRP in the last 24 hours. This increased buying activity reflects growing confidence in XRP, possibly fueled by the the bullish sentiment of the market and expectations of a price increase.
At the bottom of the XRP chart shared by Marks, is the Relative Strength Index (RSI) illustrates a sharp upward curve, indicating the potential for a bull rally. The RSI appears as a fluctuating black line, clearly reflecting rising momentum. If XRP can maintain its current uptrend, it could surpass its current all-time high of $3.84 during the period. the 2021 bull marketand may reach a new high above $11 in this bull cycle.
Update on XRP analysis
The XRP price is constantly trying to break through resistance area at $2.5with the aim of reaching new heights. Over the past month, XRP has delivered impressive performance, with its price increasing by as much as 119.5%. Despite are in consolidationthe cryptocurrency continues to show strong growth, with its price rising nearly 8% over the past seven days as it attempted to break through key resistance levels.
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Data from CoinMarketCap has shown that the XRP price is currently trading at $0.252. The cryptocurrency remains the third largest by market capitalization, after Bitcoin and Ethereum. Furthermore, XRP has seen a notable increase in daily trading volume, which increased by 53.72% at the time of writing.
Featured image created with Dall.E, chart from Tradingview.com
