The price of the native token of the XRP Ledger, $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.
According to historical XRP price data from CryptoRank, over the past five years, Over the past five years, November has predominantly been unprofitable for XRP, except for 2020 when it saw a significant 178.3% gain. This suggests that the value of XRP could soon surge based on its long-term historical data for November, or it could dip following last five years’ pattern.
While long-term data suggests that XRP could surge to as much as $1 per token, it’s essential to remember the inherent unpredictability of the cryptocurrency market, where guarantees are scarce.
As reported, the recent cryptocurrency market recovery that saw the price of the flagship cryptocurrency Bitcoin reach a 16-month high has increased bullish sentiment in the sector, with one analyst now suggesting XRP’s price could explode over 1,000% in the future.
In a post shared on the microblogging platform X (formerly known as Twitter), the popular analyst Dark Defender noted that the price of XRP could skyrocket to surpass the $6 mark before the end of next year.
The analyst’s chart shows that his price prediction could become a reality and see XRP’s price go “parabolic” if the cryptocurrency manages to reach the $1.3 mark, which is a key level that still has several support and resistance levels to overcome to reach.
Dark Defender also noted that the current cryptocurrency market volatility could see the price of XRP hit $0.66 in the near future. His XRP price prediction, however, is one of the more moderate ones seen lately.
Earlier this month, a popular cryptocurrency analyst has made a daring XRP price prediction suggesting that the native token of the XRP Ledger could soon see its price surge to a whopping $220, based on a historical pattern that would lead to that level if it was repeated.
Featured image via Unsplash.
