The post XRP to $1? History Hint at 70% Gains in November! appeared first on Coinpedia Fintech News In just 48 hours, XRP has shot up by a whopping 10%, catching the attention of investors and crypto fans. The big shots in the market, from whales to sharks, are teaming up to fuel...
The post XRP to $1? History Hint at 70% Gains in November! appeared first on Coinpedia Fintech News
In just 48 hours, XRP has shot up by a whopping 10%, catching the attention of investors and crypto fans. The big shots in the market, from whales to sharks, are teaming up to fuel this remarkable rise.
Wondering why? It’s the Ripple vs SEC lawsuit hype, making XRP hotter than ever. But that’s not all—have you hopped on this wave yet? The buzz around Ripple’s Swell conference in Dubai, where IPO plans might be revealed, is adding more fuel to XRP’s fire.
XRP On a Roll: 20% in 5 Days!
Over the past five days, XRP, backed by Ripple Labs, has gained an impressive 20%, with its current trade value at around $0.693. Ripple’s growing influence in global markets has made XRP a trusted investment with a limited supply, winning over investors.
Known for its November winning streak, XRP is showing promise for more gains. With an average return of 71% in November, it’s one of the best months for XRP holders, second only to December. Already, XRP has jumped by nearly 22% in the first week of November, showing its strong potential.
XRP’s Winning Streak: A Look Back
Digging into the past, XRP has had three Novembers with triple-digit returns, the most recent being a massive 178% surge in November 2020. If XRP closes November positively, it would make a record-breaking three-month winning streak in 2023. This follows modest gains in September and a solid 16.5% increase in October.
Interestingly, the last time XRP showed such growth was in 2017, before the lawsuit. XRP soared 278% in February, 137% in March, and an incredible 378% in April before slowing down in May with gains of just 7%. The current bullish trend is thanks to Ripple’s legal victories against the SEC, creating a positive vibe.
Ripple Swell Effect
Adding to the excitement, the Ripple Swell event on November 8 and 9 in Dubai is expected to bring big announcements that could drive XRP prices even higher. Rumors of a possible IPO announcement during the event have already sparked trader speculation, making this a potentially profitable month for XRP.
What Does the Future Look Like?
According to on-chain data provider Santiment, Ripple’s legal moves may have led big XRP whales to accumulate since mid-October. Also, a whopping 277,630 wallets now hold over 10,000 Bitcoins.
Fibonacci numbers suggest XRP’s next big goal is $0.94481, with a chance of hitting $1 and $1.0675 in the first half of the year. There’s a possibility of XRP reaching its November 2021 high of $1.255 if positive vibes continue, especially around the next Bitcoin halving event.
With XRP’s current price at $0.68 signaling positive trends, recent attempts to break $0.70 in the last 24 hours have broken resistance, putting XRP in a good position for a strong $1 push.