XRP Price Forecast for November 23: Expert Analysis
XRP has been on a roll, with prices climbing over 65 percent in the past week and currently trading above $1.50. In the last 24 hours alone, it has surged by almost nine percent. This positive momentum follows Gary Gensler’s exit from the U.S. SEC, which sparked a rally not only for XRP but also for altcoins like Cardano, creating an optimistic vibe in the market.
One key highlight is XRP breaking past the 78.6% Fibonacci level at $1.30, a significant resistance level. Maintaining support above $1.30 could signal further price hikes, with the next targets set at $1.60 to $1.70, possibly even reaching $2.
Traders have been eyeing the short-term breakout, as XRP surpassed resistance levels at $1.12 to $1.13. This breakout, confirmed by a candle close above those levels, encouraged many to enter the market. The first target of $1.34 to $1.35 has already been hit, with a potential projected target of $1.72, indicating a profitable trade opportunity and a promising 50% gain from the breakout.
Looking ahead to 2025, analysts predict that the altcoin season is just beginning, hinting at a bigger market rally down the road. Additionally, watching the XRP/BTC chart reveals a double bottom pattern reminiscent of the 2021 bull market start. If this trend continues, XRP could outperform Bitcoin and see gains of 80-90% versus BTC, nearly doubling in value relative to Bitcoin.
Stay tuned for more updates on XRP and the cryptocurrency market trends!
