XRP Poised to Surge to $5 Amid Strong Market Momentum

XRP has been on a tear over the past few weeks, hitting a three-year high, but XRP’s rally isn’t over yet.

A crypto analyst on X predicts that XRP will continue to grow after an impressive price increase in the past few weeks. The analyst boasts about the accuracy of his predictions, citing a previous post where he predicted that XRP will outperform ETH and BTC.

On November 21, he predicted that XRP would reach an all-time high faster than most users expected. The analyst highlighted XRP’s performance, especially its retest of a four-year price range. He also set XRP’s initial target of more than 250% above its November 21 price.

To date, XRP has gained 170% since the analyst’s prediction, outperforming Bitcoin and Ethereum. He believes that XRP’s bullish momentum is not over yet, predicting that the price will continue to rise by another 98% before reaching its initial target. This would put XRP above $5 in the early stages of the forecast, according to calculations.

XRP hit a high of $2.91 in its recent rally. Analysts predict that the cryptocurrency could rise by around 30% to reclaim its long-term forecast zone, taking XRP above $3 for the first time in over six years.

XRP found fresh momentum after Donald Trump defeated Kamala Harris in the recent US presidential election. Trump’s victory created optimism across the crypto industry. Most users believe that XRP and its parent company Ripple could be the biggest beneficiaries of the situation.

Notably, the president-elect has pledged to push for more crypto-friendly regulations and has delivered on his promise by nominating crypto-friendly figures to key government positions. The crypto community expects the new administration to end the long-running lawsuit between Ripple and the SEC, paving the way for the blockchain project in the banking sector to reach its full potential.