Could XRP Explode After US Elections? Data Hints At Massive 60,000% Rally
November 11 2024 - 8:30PM
NEWSBTC
Many analysts are anticipating a bull run for Ripple’s XRP which
could lead to an exponential growth, giving Ethereum and Bitcoin a
run for their money. Several experts suggest that XRP’s potential
price rally could be attributed to Donald Trump winning the US
election, a political event that brought so much excitement to the
cryptocurrency sector. Related Reading: Shiba Inu Strategic US Hub
Plan Sends SHIB Price On A 23% Moonshot XRP: 700% Price Hike
Analysts said that XRP could be on the brink of a possible price
rally based on historical price movement after an election. They
predicted that the price could skyrocket by 700% to about $4.89 per
coin if history repeats itself. Currently, the crypto is being
traded at $0.6113 with a total market capitalization of $34.76
billion and a 24-hour volume of $2.82 billion. Market commentators
said that they believed that XRP would greatly benefit from
positive sentiment brought by the upcoming administration of
pro-crypto Donald Trump. According to analysts, they see a
potentially massive price surge for the digital currency because of
the long-term pattern in its price movement and a possible
repetition of the coin’s post-election trends. However, some market
observers decided not to disclose any price target for the
anticipated XRP upsurge. Meanwhile, other analysts suggested that
the most optimistic forecast for a post-election surge would be a
growth between 100% and 500%, saying that the XRP price would be
somewhere between $1.22 to $3.67 per coin. Historical Price Rally
Analysts studied the price movement of XRP in past US elections,
saying that after the 2016 US election, the digital asset’s price
went down in the next four months after the election poll. They
however noted that after the initial price dip, the altcoin had a
massive price rally which propelled the coin to a whopping 60,000%
and hit the all-time high of $3.31, an event which is not
far-fetched at the moment. If XRP would again surge by 60,000%
after the election, it would reach the $367 level. $XRP huge
acceleration is coming Look at the past elections and see what
follows. pic.twitter.com/ufcqC8v5Y5 — Mikybull 🐂Crypto
(@MikybullCrypto) November 8, 2024 Likewise, in the 2020 election,
XRP also experienced a huge price uptick of 177%, coincidentally in
the same month as in the 2016 breakout before a correction was done
in December. Related Reading: Unstoppable Bitcoin: BTC Price
Barrels Past $81,000 For New ATH — $82k Now Within Reach New Record
Highs Could Be Around The Corner Crypto analyst Dark Defender
suggested that starting November 24, XRP could experience a major
bull run using Bitcoin’s historical patterns. Another analyst,
360Trader agrees with Dark Defender on the bullish outlook for XRP,
explaining that the coin’s extended price stability could fuel the
rally. 360Trаdеr added that an indicator that XRP is building
momentum for a bull run is the ongoing price stability. Mikybull
Crypto said that XRP is poised for another price upsurge,
expressing his confidence in the prospects of the cryptocurrency
following the notable price rallies during the previous elections.
Featured image from Pexels, chart from TradingView
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