Ripple (XRP) Price Analysis (Dec 01st 2024)!

Story Highlights

• The XRP price has soared 32.32% in 24 hours with a trading volume of $28.15 billion.
• Ripple token surpasses Tether and Solana to become the 03rd most valued crypto token.
• Technical indicators record sustained bullish action, hinting at a higher price target this year.

With a monthly surge of 378.98%, Ripple Labs native token “XRP” is trading at a discount of only 36.08% from its ATH of $3.84, which was recorded on 04th January 2018. Moreover, with the average profit/loss of XRP holders crossing +225%, the XRP token has outperformed all major tokens.

Amid such volatility in the altcoin market, let’s find out the possible short-term possibilities of the Ripple (XRP) crypto token.

XRP Price Records 72-month High!

For the first time since November 2018, the XRP price has reclaimed the 03rd position in the global cryptocurrency business by market cap. Notably, with a trading price of $2.4470, this altcoin is trading at a 6-year high.

Moreover, with the recent price pump, the Ripple price has breached its resistance trendline of the rising channel pattern in the 1D time frame. This shows a positive price outlook for the XRP altcoin this week.

The technical indicators SMA and RSI have each recorded a strong bullish price action in the daily time frame. This suggests a massive rise in the buying-over-selling pressure for this altcoin in the cryptocurrency market.

Ripple Surpasses Tether & Solana To Become 03rd Largest Cryptocurrency!

With a 24-hour surge of ~33% and a trading volume of $28.213 billion, a change of 104.27%, the Ripple (XRP) crypto token has reclaimed a multi-year high in its valuation. Notably, it has outperformed both Tether and Solana in terms of market capitalization.

With a market cap of $139.701 billion, the XRP crypto is now valued ~04% above Tether’s “USDT” and a massive ~26% above Solana’s “SOL” token.

Will XRP Price Hit New ATH This December?

If the market continues favoring the bulls, the Ripple price could smash its $2.5 mark. Maintaining the price at that level could set the stage for it to head toward its upper price target of $3 during the upcoming hours.

On the contrary, if the bearish trend reversal occurs, the XRP coin price could potentially retest its lower support trendline of $2.

Wondering what’s next for the Ripple price after it achieves a new all-time high? Read CoinPedia’s XRP Price Prediction and subscribe to us to stay updated on the latest crypto-related news!

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