XRP Could Explode If It Breaks 2021 High, Expert Predicts
On November 18, 2024, veteran trader and technical analyst Peter Brandt made a bold prediction about Ripple’s native token XRP. In a post on X (formerly Twitter), Brandt pointed out that with the recent price surge, XRP has exceeded the 2023 high and is currently heading towards an all-time high from 2021.
XRP Price Predicted by Peter Brandt
He further stated that if the altcoin breaks out of its 2021 highs, XRP price could rise significantly. The asset has surged more than 125% since the election of crypto-supporting Donald Trump as U.S. president.
This optimistic prediction from industry experts is making waves in the cryptocurrency space and is causing a lot of concern among XRP holders.
Factors affecting XRP’s potential surge
Many traders and investors may wonder why Ripple price A surge above the 2021 highs is possible.
Potential reasons for this positive outlook include bullish price action patterns, increased interest from traders and investors, heavy accumulation by whales and institutions, current bullish market sentiment, potential resignation of SEC Chairman Gary Gensler, and Speculation on XRP exchange-traded U.S. fund (ETF).
XRP Technical Analysis and Upcoming Levels
According to expert technical analysis, XRP recently broke above strong resistance at $0.95 and has been consolidating within a tight range over the past 48 hours.
Based on the recent price action, if the altcoin breaks the upper limit of the consolidation zone and closes above $1.2, there is a good chance that it could surge 18% to $1.45 levels. However, if the price remains above $1.50, XRP holders may soon see it reach $1.95 levels in the coming days.
As of now, XRP is trading above the 200 exponential moving average (EMA) on the daily time frame, indicating an upward trend. Meanwhile, its relative strength index (RSI) suggests a possible price correction or decline in the coming days, as XRP’s RSI is in overbought territory.
Current Price Momentum
At press time, XRP was trading close to $1.14, with the price surging more than 6.25% in the past 24 hours. During the same period, its trading volume fell by 34%, indicating that trader participation was lower than in previous days.
