The value of XRP is currently showing a bullish sentiment, which is in line with the overall market trend, with a target of reaching the $1 mark and setting a new historical high.
Analysts, while noting the ongoing upward trend, emphasize the need for a reset before further gains.
In a TradingView post by cryptocurrency analyst “ProSignalsFX” from November 11th, it is highlighted that XRP’s upward movement along the support line has sparked expectations of a continued bullish trend.
The analysis states that a decisive factor for this upward trajectory is the retesting of the $0.67 support level. The current upward trend for XRP is supported by the upward trend line, indicating positive market sentiment. The trend line, which serves as a key support, is seen as a crucial factor in determining XRP’s overall bullish outlook.
The potential breakthrough for XRP can also be viewed from the perspective of its historical lag behind Bitcoin price movements.
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Cryptocurrency analyst “CryptoInsightUK” points out a pattern that suggests XRP breakthroughs tend to gradually stabilize the price of XRP. Similar to Bitcoin, XRP has the potential for a breakthrough around December 15th.
$XRP explosion in T-4 days.
As we discussed the first time, $XRP explosive chart, $XRP lags behind $BTC price action. However, it looks like $XRP is getting closer to an explosion as $BTC moves.
Our first big breakout took 22 days, our last one took 13 days. If we… [insert image]
The ongoing discussions about the valuation of XRP coincide with the progress of the legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC). After winning the court battle against the SEC, Ripple and the regulatory agency agreed to discuss and reach a settlement within 90 days.