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XRP price ended the month of December at around $2.08 after a period of ups and downs. Although December ended just above $2, the price of
XRP achieved its highest monthly candle close in history despite ending the month down 28% from its six-year high. this interesting phenomenon was noted by Crypto analyst Tony Severino has suggested that the price of XRP will reach $13 this cycle.
XRP price completes its highest candle body close in history.
XRP ended December up 6.94% from where it started, building on an unexpected 281.7% gain in November. Data from CryptoRank. During this period of price increases, XRP has received significant attention from cryptocurrency analysts and investors, with various predictions for continued bullish momentum through 2025.
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However, Bitcoin’s Failure over $100,000 The price indication seems to have stalled XRP’s momentum. Along with many other cryptocurrencies. This sent XRP into the second half of December on a correction and consolidation path. nevertheless, The bullish trajectory is still in effect In the case of XRP, cryptocurrency analyst Tony Severino’s recent technical analysis also gave his opinion on this.
XRP price hit an all-time high of $3.40 as of January 2018, but ended the month at $1.124 to begin a string of monthly bearish candles. As Tony Severino pointed out on the XRP monthly candle, December 2024 was the highest monthly close for the XRP price.
Although the cryptocurrency failed to surpass its all-time high as of December, it did manage to achieve this notable milestone. Although this is not a technical indicator, it speaks to the continued bullish momentum surrounding the price of XRP, preventing the price from falling further below $2.
Technical analysis points to a $13 price target.
Cryptocurrency analyst Tony Severino Also emphasized This is an interesting technical pattern that occurs during XRP’s daily candlestick period. According to analysts, bullish flags appear to be emerging after XRP’s price correction in December.
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The bull flag pattern identified by Severino is a technical setup that is often associated with a significant price surge. It is characterized by a steep upward trend in November followed by a period of sideways movement in a downward channel in December.
An upside breakout from a bull flag pattern typically results in the following: 1st rally continues. As for XRP, Tony Severino predicted a breakthrough in the coming months that would see XRP surge to $13.
As of this writing, XRP is trading at $2.37 and is up about 12% in the last 24 hours. Reaching the projected $13 target would result in a 450% profit from current price levels.
Featured image created with Dall.E, chart from Tradingview.com