2024 年，XRP 价格飙升 365%，创下 2.90 美元的多年高点。从 10 月 25 日到 12 月 3 日，涨幅达 498%。由于这一指数级走势，人们对汇款代币 XRP 的兴趣有所上升。因此，尽管最近比特币崩盘，但山寨币仍表现出强势，突破了关键的波动低点，并保持了看涨的市场结构。Original source WeChat account: Lazy King Squirrel.
Despite the fact that most of the cryptocurrency market is in a loss state, with Bitcoin down 15% from its historical high, XRP has shown strong momentum. Although XRP fell by 28% between December 17 and 20, it demonstrates significant strength from a market structure perspective. Therefore, this article explores whether the price of XRP can increase tenfold from $1 to reach a Target Price of $10.
Will the price of XRP reach $10 in this bull market?
If the price of XRP needs to increase from the current $2.25 to $10, it requires an increase of about 345%. Considering recent volatility, Ripple's price has the potential to reach the Target Price of $10. With the launch of Ripple's RLUSD stablecoin and other partnerships, this prospect is highly likely to be realized, especially if Bitcoin does not continue to crash.
XRP Technical Analysis: Can XRP reach $10?
In 2024, the price of XRP skyrocketed by 365%, reaching a multi-year high of $2.90. From October 25 to December 3, it increased by 498%. Due to this exponential surge, interest in the remittance token XRP has risen. Therefore, despite the recent crash of Bitcoin, altcoins are still performing strongly, breaking through key volatility lows and maintaining a bullish market structure.
Due to this strong performance, investors and speculators believe that the price of XRP has a long way to go in this bull market.
Moreover, the price movement of XRP between November 3 and December 23 formed a bull flag. Between November 3 and December 3, XRP surged by 450%, forming the flagpole. Thereafter, Ripple entered a consolidation phase, forming lower highs and lower lows, indicating the flag.
A bull flag is a continuation pattern that predicts a rebound equal to the height of the flagpole after a successful breakout.
Based on this prediction, adding the height of the flagpole to the bottom of the flag gives a target price of $10. Therefore, theoretically, if the price of XRP breaks through the bull flag pattern shown below, it could reach $10.
On the other hand, if Bitcoin continues to decline and falls into a bear market, a weekly Candlestick Chart closing price below $90,000 could negatively impact XRP. In this case, XRP may invalidate the Call flag setup and could trigger a correction to the Resistance levels of $1.50 and $1.
