XRP Price Jumps 7% on Christmas Eve, Analysts Eye Rally to $2.91, BTC Reclaims $99K
XRP is currently trading at $2.34, having gained over 7% on Christmas Eve. Analysts predict that XRP could rise to a yearly high of $2.91 after recent gains. Cryptocurrency analyst Javon Marks recently pointed out that XRP’s 4-hour chart is breaking away from hidden bullish divergence confirmation, suggesting that it will recover more than 30% back to the 2024 high of $2.91. He further added that continued gains may create new all-time highs.
Marks firmly believes that the expected rebound is a matter of when, not if. Furthermore, in response to this rally, Ripple Whales has accumulated 40 million XRP, which also provides a bullish outlook for the cryptocurrency.
Cryptocurrency analyst CrediBULL Crypto also shared a chart, noting that the XRP/BTC chart looks absolutely “awesome.” He said a parabolic rally is coming, while admitting that he will once again enter a long position for another trade in the coming days.
The cryptocurrency analyst added that XRP’s chart remains the most bullish off the lows in the entire space and believes the cryptocurrency is just “pink key building pressure.”
XRP price forms double bottom pattern
In an X post, cryptocurrency analyst CasiTrades said XRP price has essentially formed a double bottom as it bounced around key Fibonacci levels. The analyst added that XRP is now riding a bullish wave.
However, she also noted that the cryptocurrency remains below $2.38, meaning it is technically still within this price correction. The structure looks promising as the RSI and price climb, and XRP remains in an uptrend heading towards the D target around $2.60.
Bitcoin rebounds
Notably, Bitcoin has finally found its way to the upside, reclaiming $99,000 levels after its recent bearish run. It is currently trading at $98,598, up more than 6% in the past 24 hours.
