The XRP value ended the month of December at round $2.08 after a interval of forwards and backwards between good points and declines. Though it ended December simply above the $2 mark, the XRP value went by means of a bullish interval within the first half of the month, which noticed it peaking round $2.9, its peak value in over six years.
Regardless of ending the month at a 28% decline from this six-year peak, XRP has nonetheless achieved the best month-to-month candle physique shut in its historical past. This fascinating phenomenon was noted by crypto analyst Tony Severino, who additionally recommended that the XRP value is on monitor to succeed in $13 this cycle.
XRP Value Completes Highest Candle Physique Shut In Historical past
XRP ended December at a 6.94% acquire from the place it began, constructing upon an sudden 281.7% improve in November, in accordance with data from CryptoRank. This era of value will increase noticed XRP receiving appreciable consideration from crypto analysts and traders, with varied predictions of a continued bullish momentum into 2025.
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Nevertheless, Bitcoin’s failure above the $100,000 value mark appears to have stalled XRP’s momentum alongside many other cryptocurrencies. This brought on XRP to spend the latter half of December in a correction plus consolidation path. Nonetheless, the bullish trajectory remains valid for XRP, with current technical evaluation by crypto analyst Tony Severino additionally lending voice to this.
The XRP value registered its present all-time excessive of $3.40 in January 2018 however closed out the month at $1.124 to kickstart consecutive bearish candles on the month-to-month timeframe. As identified on the XRP month-to-month candles by Tony Severino, December 2024 was the best month-to-month shut for the XRP value.
Though the cryptocurrency failed to interrupt previous its present all-time excessive throughout December, it managed to perform this notable milestone. Whereas this isn’t a lot of a technical indicator, it lends voice to the lingering bullish momentum surrounding the XRP value, which has prevented additional value declines under the $2 mark.
Technical Evaluation Factors To $13 Value Goal
Crypto analyst Tony Severino also highlighted an fascinating technical sample enjoying out on XRP’s day by day candlestick timeframe. Based on the analyst, a bull flag appears to be rising after XRP’s value correction in December.
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The bull flag sample recognized by Severino is a technical setup typically related to important value surges. It’s characterised by the steep upward motion in November, adopted by a interval of consolidation in a downward-sloping channel in December.
A breakout to the upside from the bull flag sample sometimes results in a continuation of the initial rally. Within the case of XRP, Tony Severino projected a breakout that will see XRP surge to $13 within the coming months.
On the time of writing, XRP is buying and selling at $2.37 and is up by about 12% prior to now 24 hours. Reaching the projected $13 goal would translate to a 450% acquire from the present value degree.
Featured picture created with Dall.E, chart from Tradingview.com
