A strong and decisive move above $1.5 could set XRP to hit the immediate target of $2.
- Assessing the XRP price prediction, as the altcoin was up nearly 200% in November. Can the uptrend extend amid renewed whale interest?
Ripple [XRP] rallied nearly 200% in November, soaring to a four-year high of $1.63 in two weeks. Such an upswing meant most holders had massive unrealized profits, which always precede a potential price decline and cool-off.
But whales’ actions suggested otherwise. Crypto market analyst Ali Martinez noted that whales grabbed over 50 million XRP over the weekend, suggesting that some large players expected the uptrend to continue.
Source: Santiment
XRP price prediction
At press time, XRP was valued at $1.5, halfway from its 2018 high above $3 and about 20% below the 2021 cycle top of $2.
So, the $2 price target was the immediate bullish target for XRP, especially if the uptrend continued.
The strong price momentum, illustrated by the Stochastic RSI and spike in OBV (On-Balance Volume), indicated strong buying pressure and the potential for hitting $2 or higher targets.
Source: XRP/USDT, TradingView
But there was a small caveat for bulls. Last week’s candlestick closed below $1.5, similar to the past two days. This meant there was a tussle for the $1.5 level, and securing it could inform the next price direction.
On the daily chart, bulls had the upper hand. The price imbalance (FVG-fair value gap) below $1.4 has been a key re-entry point for bulls.
A strong momentum at this level could allow the uptrend to target upper targets like the $1.96.
Source: XRP/USDT, TradingView
The area below $1.5 also had a build-up of leveraged longs (bright orange levels), which market makers could use to hunt for liquidity.
On the upper side of the price action, leveraged short positions were also parked above $1.6. In short, XRP could experience a liquidity sweep at or below $1.4 before eyeing $1.6 or $1.9.
Source: Coinglass
In conclusion, XRP was primed for an extra uptrend, at least based on the spike in whale demand. However, the momentum could only be validated if XRP decisively soars above $1.5.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion
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