XRP Price Prediction: Can XRP Surge to $10 During This Bull Run?

The XRP price has staged a strong recovery this month, making it one of the best-performing top ten cryptocurrencies.

The price of XRP has surged this month, making it one of the top ten cryptocurrencies with the highest returns.

Last week, XRP peaked at $1.6305, rising 324% from its lowest point this year and pushing its market cap to over $81 billion. This valuation surpasses major global firms like Deutsche Bank, Marriott International, and BP.

With XRP’s bullish trajectory, analysts have shared optimistic forecasts. Edo Farina, a long-term Ripple supporter, predicted in an X post that the coin could surge to $10 during this bull run.

He cited fundamental catalysts, including expectations that Donald Trump’s victory could resolve Ripple’s ongoing conflict with the Securities and Exchange Commission will be over next year.

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Meanwhile, Ripple and Archax have partnered to launch a tokenized fund on the XRP Ledger, signaling renewed activity on the network

Additionally, Ripple is developing RLUSD, a stablecoin intended to compete with Tether (USDT) PayPal USD, and USD Coin (USDC).

There are also rumors of Ripple launching an Initial Public Offering (IPO) in the coming years. A January CNBC report suggested the company postponed its IPO plans due to SEC challenges, a situation that could shift next year.

Can the XRP price jump to $10?

The price of Ripple (XRP) stood at $1.4381 on Nov. 25, requiring a 600% increase to reach $10. Such a move would exceed its recent performance but aligns with past trends, like its 1,800% jump from 2020 lows to its all-time high in 2021.

The weekly chart shows that Ripple broke the significant resistance level of $0.9350, the neckline of a slanted triple-bottom pattern. The coin has moved above the 50-week and 200-week Exponential Moving Averages, suggesting positive momentum. There are also indications of a bullish pennant pattern forming.

While XRP may continue climbing, potentially reaching its all-time high of $1.96 and further to $5, a leap to $10 in 2024 seems unlikely.