Source: Watcher Guru
Major Points:
- At the moment, the price of XRP is $0.7965. This year, it has increased by 26.52%. But this year, it hasn’t performed as well as other cryptocurrencies like Ethereum and Bitcoin.
- There are rumors that SEC chair Gary Gensler may step down shortly. This could impact the XRP case. If a more pro-crypto leader is chosen, the impact could be significant.
The price of XRP was $0.6295 at the start of this year. It is currently trading at $0.7965, up 26.52% so far this year. In the meantime, the Bitcoin market has grown by a staggering 98.13% in the same time frame. This year has seen impressive performance from several leading cryptocurrencies, including Solana and BNB.
According to some analysts, the XRP market might not do any better during this cryptocurrency boom. But not everyone agrees, particularly XRP acolytes.
XRP’s Sluggish Growth in Relation to Other Leading Cryptocurrencies
As previously said, this year, most the leading cryptocurrencies—particularly Bitcoin, Ethereum, Solana, and BNB—have outpaced the XRP. Too far, the Bitcoin market has experienced a 98.13% increase, while the Ethereum market has reported a 154.26% increase. At least 71 of the top 100 cryptocurrencies have reportedly done better this year than XRP. XRP’s current price is at least 382.23% less than its peak of $3.84.
Historical Trends Indicate a Potential Bull Run for XRP
Source: ET Now
XRP is notorious for its volatile price movements. During prior cryptocurrency bull cycles, it stunned many with its surprising price rises. After a protracted period of market stasis, the price of XRP surged by around 1,523% in just three weeks in late 2017. Many XRP fans think that the market will repeat this pattern of behavior in the current cycle as well.
Current Bullish Indicators Spark Hope Among XRP Investors
Since November 5, the XRP market has surged by 57.99%. In the previous 24 hours, the market has risen about 15.4%, surpassing most of the leading cryptocurrencies, including Bitcoin (-2.7%), Ethereum (-6.0%), Solana (-5.9%), BNB (-2.7%), Dogecoin (-8.4%), and Cardano (+2.5%). This result suggests that the XRP may repeat its historical pattern in this cycle.
XRP Future Price Goal
Javon Marks, a cryptocurrency analyst, recently voiced optimism on XRP’s prospective growth. He recommended a cautious $15 goal for the XRP market.
In conclusion, a spectacular surge in XRP may begin if historical trends continue.
