The XRP terms ended the period of December astatine astir $2.08 aft a play of backmost and distant betwixt gains and declines. Although it ended December conscionable supra the $2 mark, the XRP terms went done a bullish play successful the archetypal fractional of the month, which saw it peaking astir $2.9, its highest terms successful implicit six years.
Despite ending the period astatine a 28% diminution from this six-year peak, XRP has nevertheless achieved the highest monthly candle assemblage adjacent successful its history. This absorbing improvement was noted by crypto expert Tony Severino, who besides suggested that the XRP terms is connected way to scope $13 this cycle.
XRP Price Completes Highest Candle Body Close In History
XRP ended December astatine a 6.94% summation from wherever it started, gathering upon an unexpected 281.7% summation successful November, according to data from CryptoRank. This play of terms increases saw XRP receiving sizeable attraction from crypto analysts and investors, with assorted predictions of a continued bullish momentum into 2025.
However, Bitcoin’s failure supra the $100,000 terms people seems to person stalled XRP’s momentum alongside galore different cryptocurrencies. This caused XRP to walk the second fractional of December successful a correction positive consolidation path. Nevertheless, the bullish trajectory remains valid for XRP, with caller method investigation by crypto expert Tony Severino besides lending dependable to this.
The XRP terms registered its existent all-time precocious of $3.40 successful January 2018 but closed retired the period astatine $1.124 to kickstart consecutive bearish candles connected the monthly timeframe. As pointed retired connected the XRP monthly candles by Tony Severino, December 2024 was the highest monthly adjacent for the XRP price.
Although the cryptocurrency failed to interruption past its existent all-time precocious during December, it managed to execute this notable milestone. While this isn’t overmuch of a method indicator, it lends dependable to the lingering bullish momentum surrounding the XRP price, which has prevented further terms declines beneath the $2 mark.
Technical Analysis Points To $13 Price Target
Crypto expert Tony Severino besides highlighted an absorbing method signifier playing retired connected XRP’s regular candlestick timeframe. According to the analyst, a bull emblem seems to beryllium emerging aft XRP’s terms correction successful December.
The bull emblem signifier identified by Severino is simply a method setup often associated with important terms surges. It is characterized by the steep upward question successful November, followed by a play of consolidation successful a downward-sloping transmission successful December.
A breakout to the upside from the bull emblem signifier typically leads to a continuation of the archetypal rally. In the lawsuit of XRP, Tony Severino projected a breakout that would spot XRP surge to $13 successful the coming months.
At the clip of writing, XRP is trading astatine $2.37 and is up by astir 12% successful the past 24 hours. Reaching the projected $13 people would construe to a 450% summation from the existent terms level.
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