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Home CRYPTO

Ripple’s Unexpected Rally: A Bullish Outlook on How XRP Could Hit $1 This Month

Gary Ponce by Gary Ponce
November 13, 2024
in CRYPTO
Reading Time: 3 mins read
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  • With the crypto market enjoying a massive bull run, Ripple (XRP) could potentially hit $1 this month.
  • The election of Donald Trump as the pro-crypto US president and potential favorable regulations could greatly benefit XRP.
  • XRP has broken out of a four-year descending triangle pattern, and its technical indicators are bullish, suggesting a $1 price target is achievable soon.

The crypto market is currently experiencing an unprecedented bull run. Bitcoin reached an all-time high of $89,000 in early November, sparking optimism across the digital asset sector. Many are now wondering if Ripple’s XRP token could surge to $1 this month.

Ripple Struggles in the US But Regulation May Change

Over the past few years, Ripple has struggled significantly with its US operations. The company remains engaged in an ongoing legal battle with the Securities and Exchange Commission (SEC). However, changes in the White House could shift the regulatory landscape.

With SEC Chair Gary Gensler likely on his way out, many tokens like XRP could benefit from favorable regulations under President-elect Donald Trump. As the crypto market surges, the XRP price could hit $1 as early as this month.

Technicals Suggest an Upward Breakout

The XRP price is up over 16% in the last 24 hours and 30% over the last month, currently trading just below $0.70, according to CoinMarketCap. After breaking out of a four-year descending triangle pattern, the technicals suggest further upside.

XRP’s Relative Strength Index (RSI) is above 59.83, indicating bullish momentum without being overbought. Meanwhile, Bitcoin’s rally to $89,000 appears to be lifting the broader crypto market.

source: coingecko

When Can XRP Realistically Hit $1?

Given XRP’s current trajectory, hitting $1 seems inevitable. However, the question is when it can reach that threshold.

The recent descending triangle breakout points to $1 being achievable in the medium term. XRP may be able to target $1 by the end of November or early December. Either way, Ripple likely hits the $1 mark before 2025 begins.

For that to happen, XRP needs to maintain strong support and avoid excessive buying pressure too quickly. But the technicals and market dynamics appear favorable for Ripple to reach the historic $1 price point within weeks.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: $XRPBitcoinCoinMarketCapGary Genslerripplesec
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Gary Ponce

Gary Ponce

Gary has been active in the crypto space since 2019, developing hands-on experience in trading, airdrop hunting, and identifying emerging narratives in low-cap tokens. For over four years, he has contributed research and editorial content with Aiur Labs and BlockNews, focusing on market analysis and community insights. His work reflects both transparency and independent reporting, with an emphasis on simplifying complex ideas for readers. Gary is a long-term believer in Bitcoin, Sui, Hype, Litecoin, XRP, and select meme tokens, combining personal trading knowledge with professional editorial standards.

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