The XRP price concluded December at approximately $2.08 after experiencing fluctuations between gains and declines. While it closed the month just above the $2 mark, XRP went through a bullish phase in the first half of December, reaching a peak of around $2.9, its highest price in over six years.
Despite ending the month with a 28% decline from its six-year peak, XRP achieved its highest monthly candle body close in history. This noteworthy achievement was highlighted by crypto analyst Tony Severino, who also suggested that the XRP price is on track to reach $13 during this cycle.
XRP saw a 6.94% gain in December, following an unexpected 281.7% increase in November, according to data from CryptoRank. This surge in price attracted significant attention from crypto analysts and investors, with many predicting a continued bullish trend into 2025.
However, XRP’s momentum was somewhat halted by Bitcoin’s failure to surpass the $100,000 price mark, along with a broader correction and consolidation phase in the cryptocurrency market in the latter half of December. Nonetheless, the bullish trajectory for XRP remains intact, with technical analysis by Tony Severino supporting this outlook.
While XRP’s current all-time high stands at $3.40, achieved in January 2018, the cryptocurrency closed December 2024 with its highest monthly close ever. Although XRP did not break its previous all-time high during December, it still marked a significant milestone that reflects the ongoing bullish sentiment surrounding the XRP price.
Looking at technical analysis, Tony Severino identified a bull flag pattern on XRP’s daily candlestick timeframe. This pattern often precedes significant price surges, with a breakout to the upside typically leading to a continuation of the initial rally. Severino projected a breakout that could propel XRP to $13 in the coming months.
As of the latest update, XRP is trading at $2.37, showing a 12% increase in the past 24 hours. Achieving the projected $13 target would represent a 450% gain from the current price level.
In conclusion, XRP’s price performance in December and the technical analysis pointing towards a potential surge to $13 indicate a positive outlook for the cryptocurrency in the near future. Investors and analysts will be closely monitoring XRP’s price movements to see if it can maintain its bullish momentum.