NewsBTC
12 November 2024
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XRP Analysts Predict Possible 700% Price Surge Following US Elections

Analysts predict a potential bull run for Ripple’s XRP, possibly leading to significant price growth, challenging Ethereum and Bitcoin.

Experts attribute this potential rally to Donald Trump's election victory, which has generated excitement in the cryptocurrency sector.

XRP: 700% Price Hike

Analysts suggest XRP could see a price increase of 700%, potentially reaching $4.89 per coin if historical trends repeat.

Currently, XRP trades at $0.6113, with a market capitalization of $34.76 billion and a 24-hour trading volume of $2.82 billion.

Market commentators believe XRP will benefit from positive sentiment under Trump’s pro-crypto administration.

Analysts expect a massive price surge based on long-term price patterns and previous post-election trends.

Some observers have refrained from specifying price targets for the expected XRP rise.

Other analysts forecast a more conservative increase of 100% to 500%, predicting prices between $1.22 and $3.67 per coin.

Historical Price Rally

Past US elections show that after the 2016 election, XRP's price initially dropped but eventually surged by 60,000%, hitting an all-time high of $3.31.

If a similar surge occurs, XRP could reach $367.

In the 2020 election, XRP experienced a price increase of 177%, following a similar pattern to the 2016 rally before correcting in December.

New Record Highs Could Be Around The Corner

Crypto analyst Dark Defender forecasts a major bull run for XRP starting November 24, based on Bitcoin’s historical performance.

Analyst 360Trader concurs, noting that XRP's price stability may contribute to the anticipated rally.

Mikybull Crypto expresses confidence in XRP's prospects, citing notable price rallies during previous elections.

Featured image from Pexels, chart from TradingView