The XRP price concluded December at approximately $2.08, experiencing a volatile journey marked by gains and declines. Despite closing the month just above the $2 threshold, XRP enjoyed a bullish surge in early December, reaching a remarkable high of approximately $2.9—the highest in over six years.
XRP Achieves Historic Monthly Candle Body Close
Despite ending the month with a 28% drop from this six-year peak, XRP achieved its highest monthly candle body close ever recorded. This milestone was highlighted by crypto analyst Tony Severino, who predicts that XRP is on a trajectory to reach $13 in this cycle.
XRP’s Impressive December Performance
In December, XRP recorded a 6.94% gain from its starting point, building on an unexpected 281.7% increase in November, according to CryptoRank data. This surge garnered significant attention from crypto analysts and investors, with many forecasting continued bullish momentum extending into 2025.
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However, the momentum was somewhat dampened by Bitcoin’s inability to surpass the $100,000 mark, affecting XRP and other cryptocurrencies. This scenario led to a period of correction and consolidation for XRP in the latter half of December. Nonetheless, the bullish outlook remains intact, with recent technical analysis by Tony Severino supporting this sentiment.
XRP’s Past Performance and Future Potential
XRP reached its all-time high of $3.40 in January 2018, but ended that month at $1.124, initiating consecutive bearish monthly candles. According to Severino, December 2024 marked the highest monthly close for XRP. Although it did not surpass its all-time high in December, this achievement supports the ongoing bullish momentum, preventing further declines below the $2 mark.
Technical Analysis Indicates $13 Price Target
Tony Severino also identified an intriguing technical pattern on XRP’s daily candlestick chart. The analyst notes a bull flag forming after XRP’s December correction.
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The bull flag pattern, recognized for signaling significant price upswings, emerges after a sharp rise followed by a consolidation phase in a downward-sloping channel. Severino projects a breakout from this pattern, potentially propelling XRP to $13 in the coming months.
Current Market Status
As of the latest update, XRP is trading at $2.37, marking a 12% increase in the past 24 hours. Achieving the projected $13 target would represent a 450% gain from the current price level.
Price reclaims $2.4 in impressive recovery | Source: XRPUSDT on Tradingview.com
