XRP price up 7% on Christmas Eve, analysts eye rally to $2.91, BTC back $99K.
XRP is currently trading at $2.34, up more than 7% since Christmas Eve. Analysts are predicting that XRP could look towards a rally to the yearly high of $2.91 after its recent gains. Crypto analyst Javon Marks recently noted that XRP's 4-hour chart is coming from confirmation of an underlying bullish divergence, which shows a more than 30% recovery to the 2024 highs of $2.91. A further continuation could lead to a new all-time high, he added.
Marx is convinced that this is a matter of when, not when, the intended rally. In addition, in anticipation of this rally, Ripple Whales has accumulated 40 million XRP, which gives a bright outlook for the crypto.
Crypto analyst CrediBULL Crypto has shared a chart stating that the XRP/BTC chart looks absolutely “amazing”. He indicated that a parabolic rally is on the horizon, stating that he would like to go long again for another trade in the coming days.
The crypto analyst added that the XRP chart is still very bullish everywhere outside of the lows and believes the crypto is under “powdery key building pressure.”
XRP price forms double bottom pattern
In an X post, crypto analyst CasiTrades said that XRP's price has essentially formed a double bottom as it revolves around key Fibonacci levels. The analyst added that XRP is now experiencing a high tide.
However, she noted that the crypto is still below $2.38, which means it is still technically in this price correction. As the RSI and price increase, the structure looks promising and XRP is still on a wave path, pushing towards the D targets of $2.60.
Bitcoin will go back
Surprisingly, Bitcoin regained the $99,000 level after its recent reversal. It is currently trading at $98,598, up more than 6% in the last 24 hours.
