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A cryptocurrency analyst shared XRP price chartanalyzing its movements on the 4-hour time frame while identifying key strength metrics that indicate a potential rise. The analyst predicted that XRP is poised for a major rally to $11, marking a new all-time high (ATH).
Key metrics point to the price of XRP being set at $11
In X (formerly Twitter) mail On Tuesday, prominent cryptocurrency analyst Javon Marks shared key observations about… XRP price behaviornoting signs of strength through critical metrics and The possibility of a significant increase in prices to a new ATH at $11. The analyst suggested that XRP is showing clear bullish momentum, with a sharp increase visible on the price chart displayed.
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Looking at the chart, we see that XRP has seen a recent breakout Resistance levels And maintain the upward momentum. XRP’s strongest resistance at $0.5, which had been in place for over three years, was broken earlier in November, and it jumped above $1 after that. Donald Trump wins In the US presidential elections. Currently, the price of XRP is trading above $2.5, confirming the massive growth spurt it has seen in less than two months.
Marks revealed that he has been closely monitoring alternative long-term metrics for the XRP price that indicate a Potential surge to new ATHs. The volume bars below the price chart indicate consistent buying pressure for XRP, with trading volume increasing during uptrends.
Recently, the trend of XRP accumulation among major coin holders has increased significantly. Cryptocurrency analyst Ali Martinez open Going by the price chart, whales have bought a staggering 30 million XRP in the last 24 hours. This increased buying activity reflects, and may be fueled by, growing confidence in XRP Bullish market sentiment And expectations of rising prices.
At the bottom of the XRP chart that Marks shared, there is Relative Strength Index (RSI) It shows a steep upward curve, indicating potential upside. The Relative Strength Index appears as a volatile black line, which clearly reflects increasing momentum. If XRP can maintain its current uptrend, it could surpass its all-time high of $3.84 during the period. Bull market 2021It will likely reach a new high above $11 in this bull cycle.
Update on XRP analysis
XRP price is constantly trying to break out of the range Resistance area is at $2.5With the aim of reaching new highs. Over the past month, XRP has had an impressive performance, recording a massive 119.5% price increase. Although Being in unificationThe cryptocurrency continues to show strong growth, with its price rising nearly 8% in the past seven days as it attempted to break through key resistance levels.
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Data from CoinMarketCap revealed that the price of XRP is currently trading at $0.252. The cryptocurrency remains the third largest by market capitalization after Bitcoin and Ethereum. Additionally, XRP has seen a notable increase in its daily trading volume, rising by 53.72% at the time of writing.
Featured image created with Dall.E, chart from Tradingview.com