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Dogecoin to $11 as Gaussian Channel and Symmetrical Triangle Patterns Indicate Historic Rally

Sam Wisdom Raphael
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Dogecoin has again captured the spotlight, as analysts expect a historic rally amid its position in the Gaussian channel and symmetrical triangle patterns.

Notably, Dogecoin was one of the best performers in the broader market rally in early November, soaring 177% from $0.1582 on Nov. 5 to a three-year peak of $0.4385 on Nov. 12. Despite a recent pullback, DOGE has held above $0.37, with market watchers expecting further upside.

In the most recent updates, three notable analysts—Trader Tardigrade, Crypto Yapper, and Bark—have identified important structures suggesting that the original meme coin could be on the brink of a major breakout.

DOGE Within the Gaussian Channel

Trader Tardigrade shared a chart highlighting Dogecoin’s performance on the weekly timeframe within the Gaussian channel. This channel alternates between bullish and bearish zones, highlighting important support and resistance levels. 

Dogecoin Gaussian Channel Trader Tardigrade
Dogecoin Gaussian Channel | Trader Tardigrade

Data from the chart shows that Dogecoin is currently sitting at the mid-band of the Gaussian channel, a position it has reached only twice before in its history.  

Historical data confirms that such interactions with the mid-band have led to massive price rallies. In early 2017, Dogecoin held support at this level before surging from around $0.0002 to over $0.0187 in December 2018. This marked a staggering 93x increase in less than a year.

A similar event unfolded in late 2020, where DOGE found support at the mid-band. Notably, as of November 2020, Dogecoin changed hands at $0.002. However, the token rallied 36,850% from this level to the all-time high of $0.7390 in May 2021. 

Now, in 2024, DOGE is again testing this important zone in the Gaussian channel, currently trading at $0.375. If history repeats, Tardigrade predicts an “incredible pump,” potentially propelling the price to new highs. His chart presents a possible rally toward the $11 mark. Notably, this would mark a 2,852% rally from current prices, still significantly lower than the 2020/2021 surge.

DOGE Forms Symmetrical Triangles

Meanwhile, Crypto Yapper focused on the short-term price action, sharing a one-hour chart that reveals a symmetrical triangle pattern. This pattern formed following Dogecoin’s drop from the peak of $0.4385 earlier this month.

Dogecoin 1H Chart Crypto Yapper
Dogecoin 1H Chart | Crypto Yapper

The analyst suggests that the breakout could occur within hours and anticipates a “huge price explosion” to follow. If DOGE breaks above the $0.4385 resistance, it could target higher levels, with $0.50 and $0.55 serving as psychological benchmarks.   

Bark supported Crypto Yapper’s commentary with an analysis of a similar symmetrical triangle on the four-hour chart. However, the longer timeframe indicates a more significant breakout potential.  

Bark describes this breakout as one that could be “historic.” With DOGE currently holding above the $0.35 support level, the analyst sees little resistance preventing a move toward $0.50 or beyond once the triangle gives way. Analyst Ali Martinez also recently stressed that DOGE still has more room to grow.

Robert F. Kennedy Jr. Says He Is Fully Committed to Bitcoin

Elendu Benedict
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Robert F. Kennedy Jr. Says He Is Fully Committed to Bitcoin

Robert F. Kennedy has reiterated his full commitment to Bitcoin, mentioning he has most of his wealth invested in the pioneering cryptocurrency.

In a viral video, the former US presidential candidate disclosed that Bitcoin makes up a chunk of this wealth. He noted that he is a massive supporter of the premier asset and has decided to put his money where his mouth is by aping considerably into the asset class.

Pro-Bitcoin Kennedy Fully Committed

Kennedy revealed that he reconsidered his wealth distribution after attending the Bitcoin Conference in 2023. He insinuated that after a financially exposing experience at the gathering, he “went home and put most of his wealth” into Bitcoin.

During the disclosure, he noted that he is a staunch believer in and fully committed to Bitcoin. Interestingly, his support for the emerging “digital gold” and belief that it can solve the United States’s growing economic instability was one of his strong arguments when he ran for president as an independent candidate.

Meanwhile, Kennedy also reiterated his pro-Bitcoin stance in a November 16 tweet. He described Bitcoin in the X update as a currency of freedom and a hedge against inflation for the average American.

Kennedy further stated that Bitcoin was a financial tool that the United States needed to remedy economic setbacks like the degradation of the dollar and surging national debt. Notably, he made these comments while endorsing Howard Lutnik, Cantor Fitzgerald’s CEO, for US Treasury Secretary.

Trump Appoints Kennedy as Health Secretary

Meanwhile, the pro-crypto former presidential candidate became the latest cabinet member of Donald Trump’s leadership team. Last week, Trump appointed Kennedy the Secretary of Health and Human Services (HHS) after a similar nomination for Elon Musk.

Kennedy also became another pro-crypto appointment for Trump, who seems committed to fully adopting Bitcoin and digital assets. Notably, the President-elect already promised to appoint a pro-crypto Securities and Exchange Commission (SEC) chair after firing Gary Gensler.

Shiba Inu Lead Says SHIB Is Up Against Cardano and XRP, Not Memecoins

Lele Jima
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Shiba Inu Lead Says SHIB Is Up Against Cardano and XRP, Not Memecoins

Shiba Inu lead Shytoshi Kusama suggests that SHIB is no longer competing with memecoins but with utility assets like Cardano (ADA) and XRP (XRP). 

Kusama made the assertion while responding to a SHIB enthusiast who recommended that the Shiba Inu ecosystem team adopt Litecoin’s humorous marketing strategy. 

For context, Litecoin’s X handle recently became active, posting memes and humor to attract the attention of crypto enthusiasts. 

Litecoin, which jokingly hinted at plans to transition to a memecoin due to current market conditions, stated that its new slogan would be: “Take the L.”  This triggered a reaction from Kusama, who described the move as hilarious. 

Following his reaction, Shiba Inu community figure Jolt noted that Litecoin’s marketing strategy is effective. The user recounted how the Shiba Inu ecosystem team engaged the community with humor and sh*tposting during its early days. Jolt suggested that the Shiba Inu team consider adopting its previous marketing strategy, which attracted a broad audience. 

Shiba Inu Uses Community-Driven Marketing Approach 

Kusama acknowledged Jolt’s comments, emphasizing that he is actively listening and planning Shiba Inu’s future strategies. The Shiba Inu leader pointed out that while some changes can be implemented immediately, others could take time. 

He indicated that Shiba Inu utilizes a community-driven marketing approach and added that the upcoming DAO will allow SHIBArmy to have a say in crucial decision-making, including marketing. 

SHIB No Longer Competing with Memecoins, But XRP and Cardano

Furthermore, Kusama noted that Shiba Inu is no longer competing with memecoins, including Litecoin, which jokingly announced its meme transition. 

According to him, Shiba Inu is now in competition with ‘OG’ assets like XRP and Cardano, emphasizing the need to break into the legacy market using professional marketing tactics. 

To compete at this level, the Shiba Inu lead suggested that there must be a balance, hinting at a combination of entertaining marketing with professional strategy, which supports widespread adoption. 

Kusama added that Shiba Inu could not use the same marketing strategy suitable for projects within the $6 billion market cap range to compete effectively in the $50 billion region. However, he stated that the ecosystem team would adopt any marketing strategy the community recommends through the DAO. 

He promised to share more details about Shiba Inu’s marketing approach, which could help SHIB compete with XRP and Cardano. 

Although Shiba Inu launched as a memecoin in 2020, Kusama believes that the cryptocurrency has transitioned to a utility token, thanks to the multiple projects launched over the years, including games and an L2 blockchain. As a result, Kusama thinks Shiba Inu is up against XRP and Cardano, not memecoins. 

While SHIB has a market cap of $15.09 billion, Cardano and XRP are valued at $27.12 billion and $65.34 billion, respectively. 

Analyst Sets Next Short-Term XRP Target at $2.82: Here are Support and Resistance Levels to Watch

Sam Wisdom Raphael
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Analyst Sets Next Short-Term XRP Target at $2.82: Here are Support and Resistance Levels to Watch

Following the rally above the 1-dollar value last week, XRP has maintained it as support, leading to projections of further upside.

Notably, amid the ongoing bull market run, XRP has reclaimed the $1 mark for the first time in nearly three years. This milestone came on the back of an impressive 100% surge last week. 

The rally saw XRP reach a peak of $1.265 over the weekend before retracing slightly. The asset has since consolidated, holding firmly above $1 despite the pullback, as it currently trades at $1.175. Analysts are now charting the next potential moves.

SBZung Identifies $2.82 as Next Target

As XRP held above $1, market analyst SBZung shared a short-term chart yesterday, outlining a potential path forward. Notably, XRP reclaimed the $1.04835 level after briefly losing it, showing sustenance of the bullish momentum. 

Interestingly, the chart indicates Fibonacci retracement levels as key support and resistance zones, with $1.04835 acting as a crucial reclaim point. The current upward trajectory is bolstered by XRP holding firmly at major support levels.

SBZung on X
SBZung on X

However, SBZung identified the zone at $1.06919 as an important level to hold for a continued rally, which XRP had given up at the time. He noted that if XRP reclaims and stays above this level, there could be a 160% move to $2.82.  

The market analyst acknowledged the possibility of XRP collapsing to the $0.8735 level if its support levels above $1 fail to hold. Nonetheless, this is unlikely to occur as long as the current momentum holds firm. Following SBZung’s analysis, XRP has now reclaimed $1.06919.

Other Major XRP Levels to Watch

Meanwhile, CryptOpus, another prominent market watcher, identified $0.7941 and $0.9272 as additional key support levels. 

CryptOpus on X
CryptOpus on X

The analyst outlined potential upward targets at $1.6569, $2.0374, and $2.4169, respectively corresponding to 80%, 120%, and 160% gains. This aligns with SBZung’s bullish outlook, although CryptOpus presents a gradual progression toward higher price points.  

Further, market watcher Leb Crypto identified a confirmed breakout from a multi-year consolidation phase following the latest upsurge beyond the $1 region. Remarkably, this breakout represents an important shift in XRP’s market structure.

The analyst also stressed the importance of $0.94 as a key support level, which must hold for the rally to continue. Leb Crypto identifies $1.6 and $1.96 as the next resistance levels XRP must overcome. This supports the idea that XRP is currently in a transformative phase.  

On-Chain Data Confirms Large Buy Volumes

In addition, on-chain researcher Tokenicer also discussed the strength of the $1 level as a support zone. Citing on-chain data, he confirmed that this zone is bolstered by large buy orders, including $1.15 million at $1 and $1.06 million at $1.01. 

Tokenicer also noted that XRP’s recent rally was capped by a $3 million sell wall at $1.3. Despite this resistance, the overall momentum remains favorable. The on-chain data suggests that $1 is now a psychological support level, providing a foundation for further upward movement.  

All these analysts generally agree that the current support zones are around $0.94, $1, and $1.06919, while resistance levels to watch are $1.6, $1.96, and $2.82. The $1 level has become an important psychological support backed by on-chain activity and buy orders.  

Top Investor Says He is Not Selling Shiba Inu Until SHIB Soars 1,967,629% to $0.50

Abdulkarim Abdulwahab
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Top Investor Says He is Not Selling Shiba Inu Until SHIB Soars 1,967,629% to $0.50

Carl “The Moon,” a prominent UAE-based crypto investor with 1.4 million followers on X, has recently shared his ambitious outlook for Shiba Inu (SHIB).

In a recent post on X, Carl, Forbes 30 under 30 and also Seen On FOX and CNBC, boldly declared that he would not cash out of his Shiba Inu holdings until the price of SHIB reaches “at least” $0.50. A major factor influencing this outlook is SHIB’s historical performance, particularly in 2021.

Carl is anticipating that Shiba Inu will repeat its past performance. According to him, if the asset gains any upward momentum soon, it could surge toward the $0.50 mark.

Image
Shiba Inu chart by Carl

Community Reacts

Carl’s post quickly gained traction, with the crypto community debating the implications of such a bold prediction for Shiba Inu.

Some analysts, like Ether NasyonaL, have questioned the feasibility of Shiba Inu reaching $0.50, while others, like Sweep, have expressed strong conviction in Carl’s prediction.

Community reaction
Community reaction

On the other hand, some critics have suggested that waiting for Shiba Inu to hit $0.50 is akin to holding the asset until it reaches zero, implying they see no future for the meme token. Essentially, market reactions to Carl’s $0.50 SHIB price target have been mixed.

What Shiba Inu at $0.50 Means

For context, Shiba Inu is currently trading at $0.00002541, with four leading zeros. Essentially, Carl is projecting a future where Shiba Inu no longer has any leading zeros and is worth half a dollar.

To reach this milestone, SHIB would need to increase in value by nearly 20,000 times, or 1,967,629%.

For instance, an investor who puts $100 into SHIB today could see their portfolio balloon to $1,967,629 in the hypothetical future, where SHIB’s value reaches $0.50.

As a result, current Shiba Inu millionaires could see their status elevated to SHIB billionaires. Moreover, at a $0.50 price point, Shiba Inu would command a staggering market cap of approximately $294.5 trillion. This projection assumes the circulating supply of SHIB remains constant, with no significant burns.

Suppose Shiba Inu alone could achieve a market cap of $294.5 trillion, it raises the question of what the market caps of Bitcoin and other major cryptocurrencies might look like in comparison. Interestingly, despite its ambitious nature, prediction platforms like Telegaon have set a 2050 target for Shiba Inu to reach $0.50 potentially.

Legendary Bitcoin Investor Awakes to 171,109% ROI as BTC Rebounds to $91K, Moves Funds to Exchange

Albert Brown
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Legendary Bitcoin Investor Awakes to 171,109% ROI as BTC Rebounds to $91K, Moves Funds to Exchange

As the price of Bitcoin rebounds to $91,612, a legendary investor has offloaded over $46 million in BTC to external addresses amid seeing 171,109% ROI.

Bitcoin made a strong rebound today following a bearish weekend during which its price revisited the $87K price range. Now trading at $91,612, the cryptocurrency is just 1.84% below its all-time high.

However, notable activity among long-dormant Bitcoin wallets has emerged alongside this resurgence. These movements have sparked interest, as several large holders, or whales, are transferring significant amounts of BTC to exchanges, potentially signaling selling intent.

Dormant Bitcoin Wallets Show Increased Activity

On-chain data highlights a sharp increase in the activation of dormant Bitcoin wallets. According to Spot on Chain, a wallet that held 400 BTC, worth $2,091 at acquisition and now valued at $35.8 million, became active today after 12 years. Essentially, this Bitcoin investor awakens to a staggering 171,109% return on investment amid BTC’s rebound.

This wallet and two others moved 200 BTC to the Bitstamp crypto exchange and transferred 351 BTC to a new address. In total, these wallets deposited 600 BTC, worth $46 million, to Bitstamp over the past month. Each of these wallets had been inactive for more than a decade.

Image
Analysis by Spot On Chain

Similarly, Whale Alert reported that another dormant address containing 246 BTC, valued at over $22 million, was activated after 11.7 years. 

Satoshi-Era Wallets Resurface

A separate event involved a Satoshi-era wallet, which was inactive since 2010, moving 2,000 BTC to Coinbase. This transaction, valued at approximately $180 million, is significant due to its historical context. The wallet holder had mined Bitcoin when its price was less than 10 cents, highlighting the coin’s exponential growth. 

Additionally, in September, a wallet that had been dormant for over 15 years moved 250 BTC mined in 2009. Similarly, in August, another long-inactive wallet from 2014 transferred 174 BTC, worth $10 million at the time. 

Optimism Amid Whale Activity

Despite the increase in whale activity, market sentiment remains largely unaffected. Industry figures, including Michael Saylor, predict continued bullish momentum.

Saylor recently projected that Bitcoin could surpass $100,000 by year’s end. He attributed this outlook to institutional backing, political changes, and reduced market risks.

Saylor emphasized Bitcoin’s growing credibility on Wall Street, with firms like BlackRock enhancing its value proposition. He also pointed to the pro-business stance of recent U.S. policies, which he believes will further support the cryptocurrency market.

Cardano Founder Confirms He is Actively Discussing with US Lawmakers to Create a Comprehensive Crypto Framework

Mark Brennan
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Cardano Founder Confirms He is Actively Discussing with US Lawmakers to Create a Comprehensive Crypto Framework

Cardano founder Charles Hoskinson has updated the crypto community on his quest to drive the creation of a comprehensive crypto regulatory framework.

Hoskinson stated that the conversations to create a working cryptocurrency regulatory framework in the United States have gained momentum. In a November 17 “Surprise AMA,” he disclosed his latest contacts with the government and notable crypto industry leaders, outlining what the sector aims to achieve ultimately.

Hoskinson Reveals Contact with Lawmakers, Crypto Leaders

In the podcast, Hoskinson disclosed his active engagement with US lawmakers to discuss crypto regulation. He stated he has had meetings with senators and policymakers, fronting the need to create a working guideline for the industry to them.

The founder also noted he would see how things come together in the next 60-90 days but remains optimistic for positive outcomes. Notably, the timeframe correlates with Donald Trump’s inauguration period, confirming his earlier assertions that things would get more intense when the pro-crypto President-elect assumes power.

Hoskinson also disclosed alliances with key industry leaders, whom he noted were “great partners” in his crypto regulatory push. The founder revealed conversing with Ripple CEO Brad Garlinghouse and his attempts to contact Hedera’s co-founder Leemon Baird to help foster the clarity charge.

Cardano Founder’s Regulatory Strategy

Meanwhile, Hoskinson noted that the team is weighing its regulatory options on all fronts. He stated that they are considering pushing the policy charge through administrative changes, executive orders, and lawmaking.

He also insisted they want to create a crypto regulatory policy that outperforms those in other countries. The Cardano founder noted that they would study digital asset models from Switzerland, Singapore, and the United Arab Emirates, and create policies that would make America the “global leader in cryptocurrency.”

Furthermore, Hoskinson maintained that the US crypto policy will address pressing issues around asset classification. The US Securities and Exchange Commission (SEC) has had a series of fallouts with crypto firms, brandishing assets like XRP, Solana, and Cardano as securities.

As a result, Hoskinson noted that specific bills and regulatory guidelines clarifying these misconceptions would be implemented. Consequently, the issue of regulatory overreach and regulation by enforcement would be in the past.

Hoskinson also mentioned that the crypto policy would cover custody standards, tax clarity, and consumer protection, ultimately attracting global digital asset firms to the US. He asserted that the regulatory clarity would create a multi-trillion-dollar crypto industry on American soil and allow enthusiasts to use digital assets “the way we want to.”

Cardano Founder Debunks JRE Appearance

Meanwhile, the Cardano founder has debunked speculations that he would appear on the Joe Rogan Experience podcast. In a tweet, he noted that he has no appointment to appear on the show.

Hoskinson encouraged users to abstain from spreading rumors, noting he would be the first to disclose events as such if they were true. Notably, the speculations made the rounds last week, with notable platforms carrying the rumor.

Analyst Says Dogecoin Has Way More Room to Grow as Market Cap Is No Limitation

Lele Jima
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Analyst Says Dogecoin Has Way More Room to Grow as Market Cap Is No Limitation

Prominent crypto chartist Ali Martinez expresses confidence in the growth potential for Dogecoin, suggesting DOGE’s popularity is still far from its 2021 peak.

Dogecoin had an impressive rally earlier this month amid Elon Musk’s indirect endorsement of the asset through his mention of D.O.G.E (the Department of Government Efficiency). This caused the price of DOGE to surge over 100% to $0.4359.

However, like other major crypto assets, Dogecoin’s price plunged shortly after, dropping below the $0.4 mark and falling to around $0.35. Following this decline, some critics suggested that the token would not experience another price surge.

According to Martinez, these critics cite factors such as better memes and market cap limitations as possible reasons Dogecoin may not embark on another rally.

Dogecoin Still Far from Its 2021 Interest 

Reacting, Martinez emphasized that despite Dogecoin’s recent rally, the meme coin is still far from the popularity level it attained in 2021. He supported this claim with a chart showing Dogecoin’s price action and corresponding Google Trends’ interest in a 7-day timeframe. 

According to the data, the price of Dogecoin rises alongside its interest over time in 2021. For instance, when DOGE’s popularity surged to 53 from January 24 – 30, 2021, the token’s price also rose to around $0.014. 

Three months later, according to the data cited by Martinez, Dogecoin’s popularity increased to 73, corresponding with a price surge to $0.05. The chart suggested that Dogecoin surged to its all-time high of $0.7376 in May 2021, when its interest over time peaked at 100. 

Notably, Martinez indicated that Dogecoin’s recent surge occurred without the asset attaining its peak popularity, as witnessed in 2021. 

Per the chart, Dogecoin’s popularity was less than 50 when it surged over 100% to $0.4759 earlier this month. He suggested that Dogecoin still has enormous room for growth if its popularity reaches the levels observed in 2021. 

“DOGE has waaay more room to grow,” Martinez said while encouraging investors to not relent in their HODL conviction.

Dogecoin’s popularity level currently stands at 18, as the asset continues to trade around the $0.37 territory. Priced at $0.3749, Dogecoin is up 4.39% in the past day and 33.45% over the past week. 

XRP ATH on Cards as Google XRP Search Interest Soars to All-Time High

Abdulkarim Abdulwahab
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XRP ATH on Cards as Google XRP Search Interest Soars to All-Time High

Google search interest in XRP is now at an all-time high, coinciding with the asset’s spectacular price surge to three-year highs.

According to data from Google Trends, the search interest for XRP reached a peak popularity score of 100 on November 16. Just eight days earlier, however, search interest was at a mere 8, indicating a lack of public enthusiasm for the token.

Over the past year, search interest in XRP has been relatively low, with scores hovering below 27 since November 2023. However, in a sudden shift, the trend reversed, and public interest in XRP skyrocketed between November 15 and 16, reaching an all-time high.

Search interest in XRP
Search interest in XRP | Google Trends

The last time a comparable spike in search interest occurred for XRP was between April 11 and 17, 2021, when XRP reached a cycle peak of $1.96.

Why Google Search Interest in XRP Peaked

The latest surge in search interest for XRP coincided with the start of a long-awaited bull run. On Friday, XRP traded at a low of $0.7726, which was one of its highest values of the year at the time.

By Saturday, XRP gained even more momentum, breaking into the $1 range and peaking at $1.2679. This represented a massive 24-hour increase of 64%. XRP had not traded at this level since November 11, 2021, exactly three years ago.

Over the past three years, XRP’s price has steadily declined, bottoming out at $0.2906 in June 2022. Despite winning its lawsuit against the SEC, XRP struggled to break the $1 mark and even dropped to $0.38 earlier this year.

This prolonged price stagnation frustrated holders, but a significant turnaround occurred last week. As a result, public interest surged, with market participants rushing in (FOMO) to buy XRP.

Regions with the Most Interest in XRP

Google data reveals that global interest in XRP is fairly uniform, though certain regions are particularly active. These include Australia, Canada, South Africa, the U.S., and Russia.

Regions searching for XRP
Regions searching for XRP

Since XRP recaptured the $1 mark over the weekend, its price has remained above that threshold despite pullbacks. At press time, XRP is trading at $1.18, up 16% in the last 24 hours and a more impressive 104% over the past week.

Factors That Contributed to XRP’s Weekend Surge

A key factor driving XRP’s bull run last week was the accumulation of XRP by large investors, or “whales.” According to Santiment, investors holding between 1 million and 100 million XRP tokens deployed $526 million in fresh capital to accumulate more XRP over the past week.

XRP on Track to ATH

Interestingly, while whales were accumulating, many retail investors sold their holdings, assuming the XRP bull run would lose momentum quickly—as has often been the case in the past. 

However, the trend has continued, sparking a wave of FOMO and driving XRP’s price even higher. With increased interest in XRP, market analysts are confident the asset is on track to establish a new all-time high after nearly seven years of trading below its $3.84 peak.

According to conservative estimates, XRP could realistically reach between $5 and $10, while ambitious estimates suggest as high as $300.

XRP Records Highest Weekly Close in 3 Years After Surging Past $1

Elendu Benedict
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XRP Records Highest Weekly Close in 3 Years After Surging Past $1

XRP saw its highest weekly close in three years as bullish momentum swells in the XRP Ledger ecosystem.

Amid a broader market consolidation after a bullish outbreak, which saw Bitcoin break the $93,000 price, XRP defied the prevailing momentum. The sixth-largest cryptocurrency by market cap surged a whopping 105% in the past seven days to finally cross $1.

XRP’s bullish upswing also ensured it overtook Dogecoin in the crypto rankings after a price upsurge from the meme coin saw it trump the asset earlier in the month. Notably, XRP now trades at a market cap above $65 billion, its largest in three years.

Highest Weekly Close Since 2021

Meanwhile, market analyst Cryptoes drew the XRP community to a notable milestone that XRP achieved following its bullish breakout last week. In a Monday tweet, he noted that the XRPL native token attained its highest weekly close in three years.

Cryptoes on X
Cryptoes on X

Barely a week ago, XRP traded around 50 cents, recording minute gains despite a broader market bullish momentum. However, positive sentiments around the ecosystem grew following strong macroeconomic factors, propelling the price outbreak.

As XRP gained momentum, its price broke past multi-year resistances to trade above $1 after over three years of trying to attain the price mark. XRP grew to a weekly high of $1.26 on November 16 before closing at $1.0545.

Meanwhile, XRP’s performance last week increased its monthly and yearly gains to 116% and 97%, respectively. The asset also became the top gainer in the past seven days among the top 20 crypto assets by market cap.

What Next for XRP?

As bullish momentum persists in the XRP ecosystem, discussion on a possible price target for the coin has gained momentum. Analyst Cryptoes also sparked the conversation in his Monday tweet, identifying XRP’s highest weekly close since 2021.

Notably, lofty price targets are making the rounds as analysts expect XRP to sustain this renewed bullish traction. For instance, analyst Egrag placed an audacious $17 target for the XRPL native token, citing the “Bent Fork” theory.

Another analyst, Steph, noted that XRP would target $14. The commentator based his assertions on the tightening of the Bollinger band and XRP’s correlation with global liquidity.

Meanwhile, other targets like $5, $8, and $11 still exist as analysts tap the brightening regulatory cloud in the US and a possible conclusion of Ripple’s case with the Securities and Exchange Commission (SEC) to propel XRP to unprecedented highs.

At the time of writing, XRP trades at $1.170, up 14% in the past 24 hours.

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