XRP’s price has surged by over 80% since the beginning of the year. The token saw a surge in new investors after Ripple was partially victorious in its legal battle with the SEC (Securities and Exchange Commission). XRP is one of the few cryptos legally declared as a non-security for retail investors.
6Although the token has faced a 5.% and 11.6% correction in the weekly and 14-day charts, it is still up by over 11.7% over the previous month. Moreover, analysts anticipate the token to continue its bullish trajectory till the end of November.
Also Read: Ripple XRP Could Rally 480% and Hit $3.8: Predicts Analyst
According to PricePredictions, XRP could rise to $0.6746 by Nov. 28, 2023. The price rise would translate to a growth of about 10% from current levels. The platform also predicts the token will continue surging well into December 2023.
CoinCodex predicts that XRP will rise to $0.8265 by Nov. 25, 2023, a gain of around 35% from its current price. However, the platform anticipates the crypto’s price to drop to $0.7521 on Nov. 30, 2023, still higher than current levels.
Changelly also anticipates a bullish performance from XRP. The platform predicts the token to hit $0.8128 on Nov. 24, 2023, a rise of 33% from current price levels. However, Changelly expects the crypto’s price to fall to $0.7540 by Nov. 30, 2023.
Could XRP face a correction?
Although several analysts expect the crypto to continue its bullish outlook, there is a chance of a correction. According to the data from Whale Alert, an unknown wallet recently transferred 25 million tokens to Bitstamp, a centralized crypto exchange.
Also Read: Ripple XRP: Here is When It Can Reach $10
The movement of tokens to an exchange is considered bearish as it increases the chances of them being dumped. The transfer of tokens to Bitstamp could be the reason behind the latest price correction, and the asset might bounce back very soon.