A crypto commentator explains why XRP could face a major challenge reaching $1,200 if it wants to repeat Bitcoin’s rally from November 2011 to 2013.
What is noteworthy is that XRP has recorded an impressive upward trend since the US elections in November 2024. During the election, where pro-crypto candidate Donald Trump won, XRP traded at $0.5035.
Since then, the token has risen 336% to $2.21, outperforming most top-tier crypto assets. This rally has triggered a renewal of optimism, with some market participants predicting future prices high as $27 And even $100.
In the latest commentary, market analyst Steph recently commented presented The idea of
Bitcoin’s historic price rise
He shared a detailed table The price of Bitcoin increase within this time frame. For comparison: at the end of November 2011, Bitcoin was trading for just $2. However, in August 2012 it reached $16, an increase of 700%.
After a brief decline from this peak, Bitcoin rose to $259 in April 2013, a 12,850% increase from its 2011 price. Interestingly, the rally continued and Bitcoin reached $1,200 in November 2013, achieving a total gain of almost 59,900% in two years.
With XRP now trading at $2.2, Steph, who has always been vocal in her support of the altcoin, wonders why it can’t repeat this uptrend. Notably, XRP showed its penchant for growth when it experienced a more significant increase from $0.005 to $3.31 in 2017/2018.
Big challenge for XRP
In response to Steph, Nathan…
