{"id":102179,"date":"2024-11-29T22:54:50","date_gmt":"2024-11-30T02:54:50","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=102179"},"modified":"2024-11-29T22:54:54","modified_gmt":"2024-11-30T02:54:54","slug":"xrp-price-pursue-2-following-bull-cycle-break","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/xrp-price-pursue-2-following-bull-cycle-break\/","title":{"rendered":"XRP Price Pursue $2 Following Bull Cycle Breakthrough"},"content":{"rendered":"\n

As a result of new partnerships and a new round of trading volumes, XRP price<\/a> is edging closer to $2, which will propel the altcoin to a new $2024 price high.<\/p>\n\n\n\n

\"XRP
XRP Price Pursue $2 Following Bull Cycle Breakthrough<\/em><\/figcaption><\/figure>\n\n\n\n

XRP price reached a new year-to-date high of $1.68 as the altcoin continued to form a higher high (HH) pattern. This week, the crypto asset has experienced a 40% increase, and it has the potential to surpass BNB to become the fifth-largest cryptocurrency in the market.<\/p>\n\n\n\n

\"Four-hour
Four-hour chart for XRP. Source: TradingView<\/figcaption><\/figure>\n\n\n\n

In November, tactive XRP accounts increased by 100%<\/strong><\/h3>\n\n\n\n

Although the XRP price has increased by 232% in the past 30 days, its onchain metrics have also shown a positive resurgence. According to data from xrpscan, the number of active accounts or distinct senders on the XRP network <\/a>increased from 15,592 on November 1 to as high as 47,044 on November 16.<\/p>\n\n\n\n

\"The
The number of active accounts on the XRP ledger. Source: xrpscan<\/em><\/figcaption><\/figure>\n\n\n\n

In November, the average number of active accounts doubled, increasing from approximately 12,000 to 25,000. Similarly, the XRP ledger experienced a substantial increase in the number of new accounts activated in November, suggesting that the network has attracted many new users.<\/p>\n\n\n\n

Ripple's strategic partnership with Archax\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> to introduce a tokenized money market fund on the XRP ledger has also contributed to the bullish sentiment surrounding XRP.<\/p>\n\n\n\n

Furthermore, Bitwise<\/a>, a crypto index fund manager, announced on November 7 that it would rebrand its European XRP ETP, providing European investors with XRP exposure through a tangibly backed product.<\/p>\n\n\n\n

XRP Price target $2, distribution is the likely outcome<\/strong><\/h3>\n\n\n\n

The most recent breakthrough of XRP resulted from a bullish breakout from a bull flag pattern. The formation of a new higher high in the chart suggests a bullish continuation, which presents the potential for additional upward movement.<\/p>\n\n\n\n

The immediate target for XRP is between $1.95 and $2.05, composed of the market top of its previous bull runs at $1.97, which will serve as overhead resistance, according to the Fibonacci extension rule from its trend swing low at $1.<\/p>\n\n\n\n

Mikybull, an independent crypto analyst, also referenced the potential for a $2 target and stated,<\/p>\n\n\n\n

\n

\u201c$XRP 2017 kind of rally vibes. Hit $2, experience a pullback, and then continue its vertical hated rallies to a new cycle top of probably $10.\u201d<\/p>\n<\/blockquote>\n\n\n\n

Nevertheless, it is crucial to observe that its mid-term and long-term charts demonstrate distinct adverse divergences.<\/p>\n\n\n\n

Since November 16, there has been an inverse correlation between price and trading volume, another critical analysis. XRP is currently in a distribution phase, during which market traders may consider selling.<\/p>\n\n\n\n

Consequently, the likelihood of an adverse market reversal is elevated, as trading volumes have been at their lowest level since November 10 over the past three days.<\/p>\n","protected":false},"excerpt":{"rendered":"

As a result of new partnerships and a new round of trading volumes, XRP price is edging closer to $2, which will propel the altcoin to a new $2024 price high. XRP price reached a new year-to-date high of $1.68 as the altcoin continued to form a higher high (HH) pattern. This week, the crypto […]<\/p>\n","protected":false},"author":59,"featured_media":93330,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[19981,142,146,19733],"class_list":["post-102179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-archax","tag-ripple","tag-xrp","tag-xrp-price-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/09\/xrp_0-2.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/102179","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=102179"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/102179\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/93330"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=102179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=102179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=102179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}