XRP has maintained its bullish momentum since early November, gaining over 283% by the month’s end. Analysts suggest the rally is far from over, with new price targets on the horizon.
Key Milestones for XRP Rally
Market analyst Cryptobilbuwoo identified a parabolic curve pattern driving XRP’s recent surge. By following this trend, XRP has hit four significant price targets, including:
- $0.64 on Nov. 12
- $0.915 on Nov. 16
- $1.13 on Nov. 17
- $1.612 on Nov. 23
Looking ahead, he predicts further gains, identifying $3.3 as the next major target. For profit-taking, he highlights $6.15 and $26.6 as key levels. Ambitious projections even suggest XRP could climb as high as $589.
However, maintaining the $2 support level is crucial to sustain this upward momentum.
XRP’s Parabolic Structure and Strong Momentum
Cryptobilbuwoo’s analysis shows that XRP’s parabolic structure points to strong buy-side momentum. As long as the price holds within this pattern, the token could continue its climb.
Meanwhile, Levi, another crypto analyst, compared XRP’s trajectory to Tesla stock. He noted that Tesla traded sideways for seven years before surging after an SEC lawsuit resolution. Levi believes XRP could follow a similar path, potentially reaching new all-time highs once its regulatory challenges ease.
Support Zones and Market Sentiment
Analyst Harry emphasized XRP’s need to retest monthly breakout levels. These levels serve as critical support zones as the token consolidates its gains. He also noted a flag pattern forming in XRP’s chart, which could lead to a sharp rally if it breaks upward.
At the time of writing, XRP trades at $2.43, reflecting a 3.8% gain in the last 24 hours.
