One of the strongest performing coins over the past two months, Ripple ($XRP ) has surged over 234% in the last 30 days as traders anticipate that this coin will exceed the $5 mark by 2025. Traders have high expectations for this cryptocurrency as it enters the first year of the second non-consecutive term of elected President Donald Trump.
November witnessed the entire cryptocurrency market being strongly driven by Trump's election victory. However, considering the ongoing legal struggles between XRP and the current administration's Securities and Exchange Commission (SEC), it may have the brightest future within the entire industry.
Will Ripple reach $5? Why 2025 could be a game-changing year for XRP.
The cryptocurrency market has experienced an unprecedented bull market over the past month. Specifically, November has seen a surge in value, bringing numerous firsts to the industry. Among these is the surge of $BTC reaching an all-time high of over $100,000 for the first time in history.
However, one of the strongest performing coins is Ripple, as XRP could reach a high of $5 by 2025 based on its performance in recent weeks. This token has shown outstanding performance, but can it surpass its current all-time high of $3.84 by more than a dollar in the next twelve months?
In the past 30 days, XRP has risen over 235%, according to CoinMarketCap data at the weekend. Moreover, it has maintained its gains over the past week, staying above $2.43. Although its market cap and trading volume have stabilized, it seems to have maintained some notable momentum that it gathered last month.
However, there is immense optimism forming due to the presence of a bullish flag on its chart. Specifically, XRP has seen a bullish flag pattern beginning to form at the end of October. Current chart data confirms that Ripple is in the middle of an Elliott wave correction. Along with this pattern, XRP has maintained above both the 50-day and 100-day moving averages.
This indicates that Ripple has plenty of room to grow. For the pattern to be confirmed, the token will need to rise above the $2.90 level. From there, there is a possibility that the asset could be pushed above the psychological level of $3. With all the positive sentiment remaining from Trump's election and Ripple's stablecoin launch, $5 XRP seems like a potential target for next year.
