The price of XRP, the native token of the XRP Ledger, has risen by more than 33% over the past 30 days, and is up over 91% year-to-date as it outperforms a number of other cryptocurrencies but falls short of BTC\u2019s performance. Some analysts, however, maintain that XRP\u2019s price will keep on rising in the near future.<\/p>\n
In a post shared on the microblogging platform X (formerly known as Twitter) with their nearly 100,000 followers, pseudonymous analyst Dark Defender noted that he believes the price of the cryptocurrency is set to soon rise to the $0.73 mark, before it moves to \u201ctouch $0.8737 on Nov 19th.\u201d<\/p>\n
XRP is, at the time of writing, trading at $0.65 per token after losing around 1.5% of its value over the past week in a correction that came shortly after its price exploded over the last few weeks.<\/p>\n
Other analysts have been notably more bullish on XRP, with a price prediction shared by on-chain metrics firm CoinCodex that took into account the cryptocurrency\u2019s potential gains from growing adoption pointing to $2 sometime next year.<\/p>\n
As CryptoGlobe reported, a popular cryptocurrency analyst has recently suggested XRP\u2019s price\u00a0could reach the $1 mark in the \u201cvery short term\u201d\u00a0while the cryptocurrency makes its way toward $1.88 and $5.85 in the future.<\/p>\n
The analyst used the\u00a0Elliott Wave\u00a0theory, a common tool for predicting future market fluctuations, to predict an impending surge for the price of XRP,\u00a0suggesting it could hit $5.85 as they did in the past.<\/p>\n
Earlier this month, crypto analyst Cryptoinsightuk said that on a weekly timeframe data going back to 2017, price action shows that after XRP \u201centers the overbought area on the RSI [relative strength index], it \u201cmoves between 1,000%-1485% (within 3 weeks).\u201d<\/p>\n
Notably, historical data suggests\u00a0XRP\u00a0could soar by an estimated 77%\u00a0during the month of November, as according to historical data, the cryptocurrency\u2019s price has surged significantly in November, with a record 531% rise in November 2013.<\/p>\n
Featured image via\u00a0Unsplash.<\/p>\n