Can XRP price rise to $3 in December when Bitcoin hits $100k?

XRP has seen a sharp rise over the past week, with its market capitalization increasing and approaching its all-time high.

This rally has taken XRP to new heights, but it is crucial to understand that these market phases are usually temporary. Several indicators suggest that XRP could be approaching its peak.

In addition to predicting it will hit $3 this month, experts are speculating which altcoin will be next to explode.

XRP Price Analysis

XRP recently hit a new all-time high, surpassing its previous market capitalization record from January 2018. Binance reported that XRP's market capitalization reached $153 billion, marking a major milestone, although not adjusted for inflation, which which would align it with its 2018 unit price highs.

Despite this achievement, the real question is how much higher can XRP go. Data from CoinMarketCap shows that XRP reached $3.80 in early 2018, but its market capitalization was much lower at the time. Today, XRP's market capitalization has surpassed its 2018 peak, but the unit price still has room to rise before reaching inflation-adjusted highs.

XRP has risen steadily over the past five weeks and shows no signs of slowing down. However, a closer look at the Relative Strength Index (RSI) reveals worrying signs of overbought conditions. XRP's RSI currently sits at 92, indicating that the asset is in extremely overbought territory.

Typically, such a high RSI indicates that the asset may need a correction. On the daily chart, XRP's RSI hit 95, reinforcing the idea that the rally could be coming to an end. Historically, the best time to enter XRP has been when the RSI is much lower (below 35), indicating more favorable buying conditions.

While the market may continue its euphoria for a few more weeks or even a month, the inevitable correction is likely looming, bringing XRP back to more reasonable levels.

With a market capitalization of $153 billion, XRP has surpassed its previous all-time high of $122 billion from January 2018, but several areas of resistance remain. Using Fibonacci retracement levels, XRP's potential market capitalization could approach $200 billion, marking the upper limit of its current bull run.

XRP Price Prediction

XRP's dominance in the market is another crucial factor to consider. Historically, XRP dominance has fluctuated and a low dominance level (around 1%) has often signaled a strong buying opportunity.

However, as competition from other blockchain platforms such as Solana, Avalanche, and Cardano grows, XRP's dominance is unlikely to reach its previous highs of 30%. Currently, XRP dominance is around 5%, but it is essential to keep an eye out for any notable drops in this figure to spot better buying opportunities in the future.

For those who invested early in XRP, current market conditions offer an opportunity to profit. XRP's recent 5x price rise means that many early investors could sell their holdings for good profits. While the future of XRP looks promising, evaluating your investment strategy, whether short-term or long-term, is essential to making informed decisions.

If you entered XRP at lower prices, consider taking profits in tranches over the next few weeks. Despite XRP's impressive growth, the market currently appears overheated and waiting for a possible correction could be a prudent strategy.

Two best altcoins to consider

Additionally, there are other promising opportunities, such as new cryptocurrencies currently in their pre-sale phase, that offer potential for big profits.

Best wallet (BEST)

Utility coins are gaining traction, but smaller cap projects could generate higher returns as the market changes. While XRP already has a huge market cap, smaller projects like Best Wallet have more growth potential.

Best Wallet (BEST) ICO has raised over $2 million so far, with its native token, $BEST, available for just $0.022925. Investors are showing interest in the benefits that come with holding $BEST.

These include reduced fees within the Best Wallet ecosystem, early access to new cryptocurrency releases, and staking rewards with APYs over 1500%. What sets Best Wallet apart is its all-in-one design.

It's more than just another MetaMask alternative – it offers a full set of services, including a DEX that finds the best exchange rates by aggregating other exchanges. The team is also working on a crypto debit card for real-world spending.

With support for over 60 blockchains, Best Wallet makes it easy for users to manage their wallets in one place. As utility coins gain momentum and the Best Wallet ICO hits important milestones, early investors could step in at the perfect time. To participate in the $BEST token pre-sale, visit bestwallet.com.

Unchained Baby (PEPU)

Pepe Unchained (PEPU) is a popular pre-sale cryptocurrency that creates the first layer 2 ethereum blockchain focused on meme coins. Their fundraising has been a huge success, raising more than $70 million so far.

Pepe Unchained runs 100 times faster and costs much less than ethereum, making it ideal for trading meme coins. Interest is growing rapidly as the pre-sale ends in 8 days and $PEPU will soon be listed on top-tier exchanges.

A standout feature of Pepe Unchained is the Pepe Pump Pad, a version of Pump.fun created for Pepe Chain. Pepe Pump Pad allows anyone to flip a meme coin with just two clicks with no coding knowledge required.

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It has been a long journey and <a target="_blank" href="https://twitter.com/search?q=%24PEPU&src=ctag&ref_src=twsrc%5Etfw”>$PEPU Pre-sales have seen unprecedented demand.

As we approach the hard cap of 74 million, the journey to establishing Pepe Unchained as the go-to chain for meme coin development and trading begins. pic.twitter.com/CPbkj2Px5p

— Pepe Unchained (@pepe_unchained) <a target="_blank" href="https://twitter.com/pepe_unchained/status/1864378014953558493?ref_src=twsrc%5Etfw”>December 4, 2024

Thousands of tokens are launched daily on Pump.fun, and now ethereum will have its own version thanks to Pepe Unchained's advanced transaction capabilities. Since launch day, Pepe Unchained aims to be a thriving ecosystem. It will include a block explorer, ethereum bridge, decentralized exchange, and staking options.

Recently, Best Wallet named Pepe Unchained its “Token of the Week.” Investors can purchase $PEPU through the Best Wallet app or by connecting a different wallet to the Pepe Unchained pre-sale website. Using Best Wallet also allows users to track their tokens and get live updates through their dashboard.

With just a few days left until the pre-sale closes, this could be the last chance for buyers to arrive early. To participate in the pre-sale of the $PEPU token, visit pepeunchained.com.

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