The XRP token is stirring significant interest again in the crypto community, as it is finally capitalizing on the ongoing bull momentum in the crypto market.
While the broader market is cooling off from last week’s consecutive rallies, XRP commenced its own bull run late Friday and has seen impressive price movements since then.
Over the weekend, XRP’s price skyrocketed to $0.6622 from the Friday close of $0.5889, a growth of over 12.44%. Notably, XRP last saw the $0.66 price point in March, marking a six-month high.
Although XRP has experienced a slight pullback due to the broader market correction, it has defended most of its gains, trading at $0.6518 at press time. Despite its impressive weekend performance, market analysts believe XRP may not have even started its upward trajectory.
“Big Things” Happening to XRP Soon
In a post on X, Anup Dhungana, a notable trader and Bitcoin pundit, argued that “big things” are on the horizon for XRP. He expressed this sentiment on Sunday evening when XRP first broke back into the $0.65 range.
The chart accompanying his tweet highlighted his anticipation for XRP to approach the long-lost $3 price range in the midterm.
XRP chart by Anup Dhungana
XRP To $3 by Christmas
Similarly, in a separate commentary, widely followed analyst Myles G Investments argued that XRP could reach $3 by Christmas, which is just three months away.
Notably, at the current value of $0.6518, XRP would need a powerful surge to drive its value up by 360% to attain $3. This price threshold was last seen about seven years ago, but these analysts believe it is now within reach, given the ongoing momentum in XRP.
When asked whether he expects $3 to be XRP’s peak for this cycle, Myles indicated that he thinks $3 would be a bottom price. This suggests he anticipates higher valuations for XRP well into 2025.
In a statement earlier this year, Myles revealed that he would be profiting from his long-term XRP position within the price range of $3 to $7.
At the time, he narrated how his millionaire father sold his house for $800,000 to invest in XRP, showcasing confidence in its potential. With over 50 years of investment experience, Myles noted that his father believes the bold move could be the biggest “home run” of his career.
Conclusion
As XRP continues its bullish momentum in the crypto market, analysts are predicting significant price movements ahead, with some even suggesting a target price of $3 by Christmas. The excitement around XRP’s potential resurgence has investors and traders closely monitoring its progress.
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