This is how Ripple (XRP) can surpass its yearly high of $0.74

Ripple’s native token was a bit late to the ongoing bullfest, but managed to post some gains earlier this week and hit a multi-month high of $0.74.

Since then, it has lost some of its appeal, along with the rest of the market, but it still has a chance to surpass its 2024 high and here’s how, according to Santiment.

XRP lost its place as the sixth largest cryptocurrency to Dogecoin last week and remained far from having a chance of regaining it. Currently, the meme coin has a market cap of $57 billion, while Ripple’s token stands at $39 billion.

Even the rally that occurred a few days ago and pushed XRP to $0.74 did not close the gap enough. However, it managed to attract the crowd, according to market analysis firm Santiment.

It recently reported that more than 4% of all cryptocurrency discussions on social media focused on Ripple following Tuesday’s price surge. As such, XRP has once again become the talk of the town, but it needs more to surpass this high.

Santiment noted that FOMO must remain “at bay” as traders continue to talk about XRP and, importantly, allocate funds to it.

Additionally, the tweet mentions funding rates on major crypto exchanges like Binance, as they are not expected to be “too burdened in the long term,” which could stop XRP’s rally.

The XRP community has erupted with excitement and discussions related to the crypto’s #7 market cap. Over 4% of all coin discussions are related to XRP after a +45% breakout over an 8-day period.

Getting above $0.74, its yearly high in March, will largely depend on whether FOMO continues… pic.twitter.com/IubbdmJY8n

–Santiment (@santimentfeed) November 13, 2024

Despite having a large and engaged community, XRP has lost much of its momentum due to the current coin craze. Many such altcoins have seen double- and even triple-digit price increases at times.

With assets like DOGE climbing 150% in a week, PEPE hitting a new all-time high, and PNUT attracting a $2 billion market cap in a matter of days, retail traders are expected to focus more on these latter rather than less fluctuating alternatives like XRP.