XRP News: Analysts Predict Bull Run Target of $100 Despite Recent Volatility

XRP Price Prediction: Analysts Target $100

Ripple’s XRP has been one of the top-performing digital assets in the 4Q of 2024. However, the altcoin has faced bearish sentiment in recent weeks, dropping to as low as $1.96 on March 11th. Despite this volatility, with prices trading between $2.30 and $2.47 this month, some crypto analysts remain confident in XRP’s potential. Captain, for instance, predicts a realistic target of $100 for this bull run, while Egrag Crypto offers a more conservative estimate of double digits.

XRP Price Rally May Already Be Over

XRP has seen a 370% increase since elections, but the daily chart reveals a bearish price structure. Long-term holder unrealized profit/loss metric shows similarities to the 2021 cycle top, which could be ominous for bulls. The altcoin’s 1-day price action showed a bearish structure on the daily chart when it slipped below the $2.19 level a week ago. Since then, it has rebounded to test the $2.45 level as resistance.

Ripple (XRP) Price Predictions for This Week

XRP continues to hold above $2, a sign of strength. Despite market turbulence, XRP remained steady above the $2 support level and buyers recently took the price to almost $2.5 before a shallow pullback. This indicates high demand for XRP. To turn the chart bullish, XRP must break the resistance at $3. The daily MACD moving averages are making higher lows and the histogram is positive, showing that bullish momentum is building up.

Ripple Mints 25 Million RLUSD Tokens, Doubles Supply in Less Than Two Months

Ripple has minted 25 million RLUSD tokens, doubling the supply in less than two months. The total market capitalization of RLUSD now stands at $169.5 million. The majority of RLUSD tokens are issued on Ethereum (ETH) with 125.64 million, while an additional 44.05 million are on the XRP Ledger (XRPL). This comes after Ripple acquired a license from the Dubai Financial Services Authority (DFSA). Data from CoinGecko and CoinMarketCap (CMC) shows the significant growth in RLUSD’s supply.