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The XRP worth ended the month of December at round $2.08 after a interval of forwards and backwards between good points and declines. Though it ended December simply above the $2 mark, the XRP worth went by way of a bullish interval within the first half of the month, which noticed it peaking round $2.9, its peak worth in over six years.
Regardless of ending the month at a 28% decline from this six-year peak, XRP has nonetheless achieved the very best month-to-month candle physique shut in its historical past. This fascinating phenomenon was famous by crypto analyst Tony Severino, who additionally prompt that the XRP worth is on monitor to succeed in $13 this cycle.
XRP Value Completes Highest Candle Physique Shut In Historical past
XRP ended December at a 6.94% acquire from the place it began, constructing upon an sudden 281.7% enhance in November, in line with information from CryptoRank. This era of worth will increase noticed XRP receiving appreciable consideration from crypto analysts and traders, with numerous predictions of a continued bullish momentum into 2025.
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Nonetheless, Bitcoin’s failure above the $100,000 worth mark appears to have stalled XRP’s momentum alongside many different cryptocurrencies. This triggered XRP to spend the latter half of December in a correction plus consolidation path. However, the bullish trajectory stays legitimate for XRP, with current technical evaluation by crypto analyst Tony Severino additionally lending voice to this.
The XRP worth registered its present all-time excessive of $3.40 in January 2018 however closed out the month at $1.124 to kickstart consecutive bearish candles on the month-to-month timeframe. As identified on the XRP month-to-month candles by Tony Severino, December 2024 was the very best month-to-month shut for the XRP worth.
Though the cryptocurrency failed to interrupt previous its present all-time excessive throughout December, it managed to perform this notable milestone. Whereas this isn’t a lot of a technical indicator, it lends voice to the lingering bullish momentum surrounding the XRP worth, which has prevented additional worth declines under the $2 mark.
Technical Evaluation Factors To $13 Value Goal
Crypto analyst Tony Severino additionally highlighted an fascinating technical sample enjoying out on XRP’s day by day candlestick timeframe. In accordance with the analyst, a bull flag appears to be rising after XRP’s worth correction in December.
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The bull flag sample recognized by Severino is a technical setup typically related to vital worth surges. It’s characterised by the steep upward motion in November, adopted by a interval of consolidation in a downward-sloping channel in December.
A breakout to the upside from the bull flag sample sometimes results in a continuation of the preliminary rally. Within the case of XRP, Tony Severino projected a breakout that will see XRP surge to $13 within the coming months.
On the time of writing, XRP is buying and selling at $2.37 and is up by about 12% prior to now 24 hours. Reaching the projected $13 goal would translate to a 450% acquire from the present worth stage.
Featured picture created with Dall.E, chart from Tradingview.com
