XRP Price Ends December at $2.08 with Highest Monthly Close Ever
The XRP price concluded December at approximately $2.08, following fluctuations between gains and losses. It peaked at around $2.9 during the first half of the month, marking its highest price in over six years.
Despite a 28% decline from this peak, XRP recorded the highest monthly candle body close in its history, as noted by crypto analyst Tony Severino, who suggested that XRP could reach $13 in this cycle.
XRP Price Completes Highest Candle Body Close In History
XRP ended December with a 6.94% gain compared to the start of the month, building on a significant 281.7% increase in November, according to CryptoRank data. This surge attracted considerable attention from analysts and investors, with various predictions indicating continued bullish momentum into 2025.
However, Bitcoin's failure to surpass the $100,000 mark has hindered XRP's momentum, causing it to enter a correction and consolidation phase in late December. Nevertheless, recent technical analysis supports the continuation of a bullish trajectory for XRP.
XRP reached an all-time high of $3.40 in January 2018 but closed that month at $1.124, initiating a series of bearish candles. The highest monthly close prior to December 2024 was noted by Severino, reinforcing the ongoing bullish sentiment that has kept XRP above the $2 level.
Technical Analysis Points To $13 Price Target
Tony Severino identified a potential bull flag pattern in XRP’s daily candlestick timeframe, suggesting a significant price surge may follow. The bull flag pattern is characterized by an initial steep upward movement, followed by downward consolidation.
A breakout from this pattern typically signals a continuation of the preceding rally. Severino projects that XRP could rise to $13 in the coming months.
Currently, XRP trades at $2.37, reflecting a 12% increase in the past 24 hours. Achieving the projected $13 target would represent a 450% gain from the current level.
