The awakening behemoth XRP is gradually coming out of its slumber - its potential position prediction in the future bull market was first revealed by Coinpedia Fintech News Platform
For a long time, XRP price seemed to be in a state of silence, and it remained calm no matter how the market changes. The reduction in trading volume and volatility undoubtedly revealed that market participants have turned their attention to other arenas. However, the current movement indicates that the price is about to usher in a sharp fluctuation as it has broken a two-month period of silence. The upcoming price trajectory is expected to set off a bullish wave throughout the market, but a key question arises: Can XRP price reach the $1 mark by the end of 2024?
Despite not showing the same massive volatility as other coins, XRP price has remained in a bullish range. The coin is currently testing the resistance above the descending trendline, which has been acting as a strong barrier since the 2021 highs were frustrated. Interestingly, the price has been following a similar trajectory since its inception, and if history repeats itself, XRP price may be able to hit a new all-time high in 2025.
In the long-term chart presented, XRP price seems to be gearing up for a massive move as it is about to end the monthly session on a bullish note. It follows a pattern of starting with a breakout from a multi-year descending pattern that pushes the price towards new highs. The monthly RSI has broken out of the average range of 51 for the first time in 2024, which is seen as a signal that will trigger a subsequent new uptrend.
Furthermore, the Bollinger Bands have been running parallel for almost a year, albeit in the same position. This suggests that if the XRP price can successfully close above the triangle pattern, a strong uptrend could be triggered. Once broken, the XRP price is expected to climb to new heights as the trend remains strong in the coming months, suggesting that 2025 will witness a new all-time high above $3.5.
