The price of XRP, the native token of the XRP Ledger, has risen by more than 33% over the past 30 days, and is up over 91% year-to-date as it outperforms a number of other cryptocurrencies but falls short of BTC’s performance. Some analysts, however, maintain that XRP’s price will keep on rising in the near future.
In a post shared on the microblogging platform X (formerly known as Twitter) with their nearly 100,000 followers, pseudonymous analyst Dark Defender noted that he believes the price of the cryptocurrency is set to soon rise to the $0.73 mark, before it moves to “touch $0.8737 on Nov 19th.”
XRP is, at the time of writing, trading at $0.65 per token after losing around 1.5% of its value over the past week in a correction that came shortly after its price exploded over the last few weeks.
Other analysts have been notably more bullish on XRP, with a price prediction shared by on-chain metrics firm CoinCodex that took into account the cryptocurrency’s potential gains from growing adoption pointing to $2 sometime next year.
As CryptoGlobe reported, a popular cryptocurrency analyst has recently suggested XRP’s price could reach the $1 mark in the “very short term” while the cryptocurrency makes its way toward $1.88 and $5.85 in the future.
The analyst used the Elliott Wave theory, a common tool for predicting future market fluctuations, to predict an impending surge for the price of XRP, suggesting it could hit $5.85 as they did in the past.
Earlier this month, crypto analyst Cryptoinsightuk said that on a weekly timeframe data going back to 2017, price action shows that after XRP “enters the overbought area on the RSI [relative strength index], it “moves between 1,000%-1485% (within 3 weeks).”
Notably, historical data suggests XRP could soar by an estimated 77% during the month of November, as according to historical data, the cryptocurrency’s price has surged significantly in November, with a record 531% rise in November 2013.
Featured image via Unsplash.
