XRP Ripple coin investment fever is heating up! Google searches hit a record high, analysts are optimistic about this point

The price surge is synchronized with the search popularity.

Recently, the price of Cryptocurrency $XRP has experienced a staggering surge, rising over 91% in the past week to reach $1.2198, the highest level since early 2021. This upward trend has taken investors by surprise as $XRP quickly broke through key resistance levels of $0.7468 and $1.1290. Additionally, according to Google Trends data, search interest in Ripple reached a perfect score of 100 on November 17, indicating unprecedented public attention.

Image source: Google search trends show significant rise in search trends for Ripple and $XRP

Multiple factors drive $XRP pump

The rise in the price and public attention of $XRP can be attributed to various factors. One key factor is the large accumulation of big investors, commonly known as "Whales". According to data provided by Santiment, they have invested over $526 million (approximately NT$15.8 billion) in recent times to purchase $XRP, indicating their strong confidence in the asset's future potential.

The technical indicator also shows a bullish outlook. Senior trader Peter Brandt pointed out that $XRP is forming a "huge consolidation," suggesting that a parabolic rally may be imminent. He emphasized that $XRP has already broken the high point of 2023, and once it surpasses the approximately $1.6 high point of 2021, the price could rise significantly, possibly reaching the $9 level.

Source: Peter Brandt Peter Brandt suggests that $XRP is forming a "huge consolidation", implying that a rally may be imminent.

In addition, according to another analyst Tony Severino, the price of $XRP has broken through the Kumo resistance on the monthly Ichimoku cloud chart, which has been a difficult obstacle to overcome since 2021. This breakthrough indicates a potential long-term bullish reversal.

Image source: Tony Severino Tony Severino said that the price of $XRP broke through the Kumo resistance on the monthly Ichimoku cloud chart.

Analysts are optimistic about the future trend

Market analysts are optimistic about the future performance of XRP. Cryptocurrency analyst Dark Defender, based on Elliott Wave Theory, believes that after a brief correction, $XRP is expected to rise to $1.88. Another analyst, Egrag Crypto, predicts that $XRP may further climb to $4 after breaking through $1.

More aggressive predictions believe that $XRP could reach $10 or even higher, similar to the huge surge in 2017. The open contracts of $XRP futures also hit a new high of $15.3 billion, indicating strong growth in market participation and trader confidence.

Source: Egrag Crypto Egrag Crypto predicts that $XRP may further rise to $4.

Global attention and future outlook

The rise in the price and public interest of $XRP is global, with high search volumes in countries such as Australia, Canada, South Africa, the United States, and Russia. Despite the recent excitement in the rise, $XRP is still below its historical high of 3.84 US dollars, indicating there is still room for further growth.

Market analysts attribute this upward trend to the positive progress of Ripple in legal litigation and the increasing adoption of $XRP in cross-border transactions. Investors are closely following whether $XRP can maintain this momentum and possibly set new historical highs in the next seven years.

Although some retail investors believe that the upward trend may be difficult to sustain and choose to sell, the continued rise has triggered a fear of missing out (FOMO), further driving up the price. Conservatively estimated, $XRP is expected to reach $5 to $10, while more optimistic predictions suggest it could rise to $300.

[Disclaimer] There are risks in the market, and investment needs to be cautious. This article does not constitute investment advice. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their specific circumstances. Investing based on this is at your own risk.

'XRP Ripple Coin investment fever is rising! Google search hits a new high, analysts are optimistic about this point' This article was first published in 'encryption city'.