XRP Price Targets $13 After Completing Highest Candle Body Close In History – Details
After a period of gains and losses, XRP price ended December at around $2.08. Although the XRP price was just above the $2 mark in December, the XRP price experienced a bullish phase in the first half of the month, peaking at around $2.9, its highest price in more than six years.
Although XRP ended the month down 28% from its six-year high, it still achieved its highest monthly candle close in history. This interesting phenomenon be noticed Cryptocurrency analyst Tony Severino also said that the XRP price is expected to reach $13 this cycle.
XRP price completes all-time high candle body close
According to data, XRP ended December up 6.94% from the beginning of the year, based on an unexpected 281.7% rise in November. Data from CryptoRank. During this period of price growth, XRP has received a lot of attention from cryptocurrency analysts and investors, with multiple predictions that its bullish momentum will continue into 2025.
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However, Bitcoin’s Failed over $100,000 Price appears to have stalled XRP’s momentum Along with many other cryptocurrencies. This resulted in XRP being on a correction-plus-consolidation path in the second half of December. despite this, Bullish trajectory remains valid For XRP, this has also been confirmed by recent technical analysis from cryptocurrency analyst Tony Severino.
XRP price hit an all-time high of $3.40 in January 2018 but closed the month at $1.124, starting a series of bearish candles on the monthly time frame. As Tony Severino pointed out on the XRP monthly candle chart, December 2024 was the highest monthly close for XRP price.
Although the cryptocurrency failed to break out of its current all-time high in December, it managed to achieve this notable milestone. While this is not a significant technical indicator, it reflects the lingering bullish momentum surrounding XRP price, which has prevented the price from falling further below the $2 mark.
Technical analysis points to a price target of $13
Cryptocurrency Analyst Tony Severino also emphasized An interesting technical pattern has emerged on the XRP daily candlestick time frame. Analysts say a bull flag appears to be emerging following the XRP price correction in December.
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The bull flag pattern identified by Severino is a technical pattern that is typically associated with significant price increases. It is characterized by a sharp rise in November followed by a period of consolidation in a downward sloping channel in December.
An upward breakout from a bull flag pattern will usually result in Continuation of initial gains. In the case of XRP, Tony Severino expects XRP to break out to $13 in the coming months.
As of this writing, XRP is trading at $2.37, up around 12% in the past 24 hours. Reaching the projected target of $13 would represent a 450% upside from current price levels.
Featured image created using Dall.E, chart from Tradingview.com
