XRP Still Below Its All-Time High As Crypto Explodes 107%, Psychologist Says
December 03 2024 - 9:00PM
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If you’re a crypto holder, a keen market observer, or just reading
the headlines lately, you’ll know that a few cryptocurrencies are
making waves. In addition to Bitcoin, which is currently teasing
the $100k level, Ripple’s XRP is creating a price surge: the
altcoin is enjoying a solid 107% gain in the last week, data from
Coingecko shows. Related Reading: Cardano To Hit $10? Analyst
Thinks It’s Happening This Cycle To fully understand XRP’s surge,
we must take a step back to its price during the November 5th
elections and its value at the start of the year. Immediately after
Donald Trump won, the coin was off to a sluggish start, trading at
$1.50 levels. But at the beginning of the year, it was trading at
$0.61, reflecting a 350% increase. Thanks to XRP’s bullish
movement, Tether has been dethroned from the top cryptos in terms
of market caps. But if you think that Ripple’s XRP momentum is
about to end, well – think again. According to Crypto Michael, a
market psychologist, the altcoin is still trading below its
potential peak, and he expects a bigger “FOMO” frenzy soon. The
craziest thing about this XRP rally is that it still hasn’t broken
its ATH Imagine what will happen when it breaks ATH and enters
price discovery They laughed at me when I called for a major
breakout back at $0.5 I think it’s time you stopped underestimating
this coin — Crypto Michael (@MichaelXBT) December 2, 2024 Ripple’s
XRP Is Having A Moment XRP is arguably the hottest crypto right
now, and its gains outperform those of Bitcoin and Ethereum. Today,
XRP is trading at around $2.73, consolidating its price above
$2.50. Last month, its price was hovering near the $0.60 level just
before the elections, reflecting a growth of over 400% in just one
month. XRP’s thrilling price rally has attracted considerable
attention from holders, traders, market analysts, and
psychologists. Crypto Michael, who regularly shares his bullish
calls on XRP, has contributed his insights on the current market
action. In a Twitter/X post, he shared that the token’s wild days
aren’t over. Altcoin To Break ATH And Enter ‘Price Discovery’ In
the same Twitter/X post that garnered over 72k views, Crypto
Michael argued that XRP’s current rally hasn’t broken its all-time
high. He added that if XRP breaks out and hits another all-time
high, it enters its price discovery, and all bets are off. Related
Reading: Shiba Inu All Set For ‘Bull Show’, Eyes 180% Rally –
Analyst Is It FOMO Time For Ripple’s XRP? The analyst also
challenged everyone to imagine a scenario in which XRP finally hits
another all-time high and enters price discovery mode. Michael
thinks a FOMO moment will break out if this happens. Crypto
Michael’s continuous bullish call on XRP has continued to receive
criticism. Still, the market psychologist remains firm in his
position. In an August 10th posting, he targeted $2 for XRP.
However, with the recent rally, Michael has re-assessed his
position and decided to hold. Featured image from Fortune, chart
from TradingView
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