XRP (XRP) Price Prediction 2023-2024: Will XRP Finally Moon?

By Armando Pantoja Updated November 19, 2024The XRP price tumbled 2% in the last 24 hours to trade at $1.08 as of 02:17 a.m. EST on trading volume that slumped 27% to $5.6 billion.

XRP price dropped 2% in the last 24 hours to trade at $1.08 as of 02:17 a.m. EST on Monday, as trading volume slumped 27% to $5.6 billion.

This comes as the Ripple token price appears to be on the verge of a significant breakout, with Armando Pantoja, an analyst on X, predicting that the XRP price could reach between $8 and $30 from its current level. According to Pantoja, Elliot wave patterns indicate a major rally for XRP is imminent.

Gensler's exit + Elliot Wave patterns signal a huge $XRP breakout.

Key break points: $1.33 & $1.88.

After $1.88, it’s a clear path back to the ATH of $3.84.

Targets: $8-$30. Last time we saw this setup, #XRP skyrocketed.

Don’t miss it. #XRP #XRPArmy pic.twitter.com/aDOuceBQAH

— Armando Pantoja (@_TallGuyTycoon) November 19, 2024

Moreover, the analyst noted that the potential exit of the SEC chair, Gary Gensler, will also help push the XRP price up.

The XRP/USD chart analysis is displaying a strong bullish trend in the recent weeks, evidenced by the parabolic price movement in November. The bulls capitalized on the $0.55 level to push the price of XRP through the sustained rally, according to data from GeckoTerminal.

This is confirmed by the sharp upward slope of the 50-day Simple Moving Average (SMA), which is positioned well above the 200-day SMA. The classic “golden cross” occurred earlier, when the 50-day SMA crossed above the 200-day SMA, forming around $0.55, which confirms the bullish stance.

Meanwhile, the Relative Strength Index (RSI) is at 80, which shows that the market is at extreme overbought levels. This suggests that while the bullish momentum is strong, the asset might be due for a cooldown or price correction in the short term, However, in a strong uptrend like this, RSI can remain overbought for extended periods before a pullback.

The Moving Average Convergence Divergence (MACD) is bullishly aligned, with the MACD line above the signal line, and both lines well above the zero line. This confirms strong bullish momentum. The histogram shows positive momentum increasing sharply, but the leveling off in the histogram bars suggests momentum may begin to fade soon.

XRP recently peaked at $1.20, now serving as immediate resistance. If the bullish trend holds, this level could be the next target.

Previous resistance levels around $1.00 and $0.80 may now act as support if a pullback occurs. These levels coincide with psychological round numbers and previous consolidation zones.

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