XRP Price Potential: Can it Reach $1 Resistance in 2024?
Date: 2023-12-26 Author: Dima Zakharov Categories: BLOCKCHAIN
The Bullish Flag Formation
On the monthly chart, XRP has formed what could be the most significant bullish flag since its peak at $3.84 in 2018. Despite the legal challenges Ripple faced in 2020 with the SEC, hindering price recovery, the overall performance of XRP has led to this bullish pattern.
Speculations Surrounding Ripple's IPO
Another factor contributing to XRP's surge is speculation regarding Ripple's Initial Public Offering (IPO). This speculation arose following the company's recent announcement of a senior shareholder relations manager vacancy in major financial centers. The role's responsibilities align with tasks typically associated with IPO preparations, including managing investor relations and communicating with shareholders and analysts.
Current XRP Price and Growth
As of now, XRP is valued at $0.6343, showing a 2.81% increase in the last 24 hours and maintaining a positive 2.2% result over the past 30 days.
Over the past year, XRP has witnessed remarkable growth, soaring by 81.9%, surpassing 52% of the top 100 cryptocurrencies. Currently, the token is trading above the 200-day simple moving average, recording 17 "green" days in the last 30 days (57%). The crypto community is closely watching XRP's journey, eager to see if it can indeed break the $1 resistance in 2024.
