XRP Price Jumps 7% on Christmas Eve, Analysts Eye Rally to $2.91, BTC Reclaims $99K
The post XRP Price Jumps 7% on Christmas Eve, Analysts Eye Rally to $2.91, BTC Reclaims $99K appeared first on Coinpedia Fintech News
XRP is currently trading at $2.34, up over 7% on the Christmas eve. Analysts predict that XRP could be eyeing a rally to its yearly high of $2.91 after its recent gains. Crypto analyst Javon Marks recently noted that XRP’s 4-hour chart is coming off a Hidden Bullish Divergence confirmation which suggests over 30% recovery back to its 2024 Highs at $2.91. He further added that a continuation above can lead to a new All Time Highs.
$XRP‘s 4h chart is coming off of a Hidden Bullish Divergence confirmation which suggests a a full, near +30% recovery back to its 2024 Highs at $2.91 and a continuation above which can lead to new All Time Highs and higher!
This could be a matter of when… pic.twitter.com/vVcLS89pPf
— JAVON
MARKS (@JavonTM1) December 24, 2024
MARKS (@JavonTM1)
Marks is convinced that this projected rally is a matter of when not if. Besides, in anticipation of this rally, Ripple Whales have accumulated 40 million XRP, which also provides a bullish outlook for the crypto.
Crypto analyst CrediBULL Crypto also shared a chart noting that the XRP/BTC chart looks absolutely “fantastic.” He indicated that a parabolic rally was on the horizon while admitting that he will be looking to position long once again for another trade in the coming days.
The crypto analyst added that XRP’s chart is still the most bullish looking in the entire space off the lows and believes that the crypto is just a “powder key building pressure.”
XRP Price Forms Double Bottom Pattern
In an X post, crypto analyst CasiTrades stated that the XRP price has essentially formed a double bottom as it bounces around key Fibonacci levels. The analyst added that XRP is now getting a bullish wave.
However, she also noted that the crypto is still under $2.38, which means that it is still technically within this price correction. As the RSI and price climbs, the structure looks promising and that XRP is still on track for the wave, pushing toward D targets around $2.60.
Bitcoin Climbs Back
Remarkably, Bitcoin has finally found its way up after a recent bearish turn as it reclaimed the $99,000 level. It is currently trading at $98,598, up over 6% in the past 24 hours.
