By Nermeen Nabil Khear TLDR:
- XRP price currently at $2.18-2.30, with analysts projecting potential rise to $10 by Q1 2025 based on patterns similar to 2017
- Whales have accumulated 80 million XRP coins since December 17, showing strong market confidence despite recent corrections
- Ripple plans a $5 million donation to Trump’s inauguration fund, alongside contributions from Coinbase and Kraken
- The cryptocurrency’s Futures Open Interest increased by 11.39% to $2.01 billion, indicating growing investor activity
- Launch of Ripple’s stablecoin RLUSD expected to enhance liquidity through XRPL platform
XRP’s price hovering around $2.20 as large-scale investors, known as whales, continue to accumulate substantial positions. Market data shows these whales have added 80 million coins to their holdings since December 17, despite recent market corrections.
Price activity has shown considerable volatility, with XRP reaching $2.30 after a 15% surge in recent trading. This movement coincides with increased trading activity, as evidenced by Futures Open Interest climbing 11.39% to reach $2.01 billion, according to data from CoinGlass.
Technical analysts have drawn parallels between current market conditions and those seen in 2017. Crypto analyst Cryptoinsightuk has highlighted patterns suggesting XRP could potentially reach $10 by the first quarter of 2025 if it follows similar trajectories. The analyst’s projections extend further, suggesting possible prices as high as $35 by late 2025.
I have overlayed the 2017 bars pattern but also adjusted it to size in relation to our recent breakout.
If we continues following this pattern with this cycles % gains, we could see $10+ in Q1 and a moon boy blow of top to $35 ish in Q3/4 2025.
— Cryptoinsightuk (@Cryptoinsightuk) December 22, 2024
The cryptocurrency’s market dynamics are occurring against a backdrop of political developments. Donald Trump’s election victory has sparked discussions about potential changes in U.S. cryptocurrency regulation. The president-elect has expressed intentions to position the United States as a cryptocurrency hub.
Ripple, the company closely associated with XRP, has announced plans to contribute $5 million to Trump’s inauguration fund. This move aligns with similar pledges from other major crypto companies, with Coinbase and Kraken each planning $1 million donations.
In technological developments, Ripple has launched its stablecoin called RLUSD. Market observers suggest this addition could improve liquidity through the XRPL platform, potentially strengthening XRP’s role in global payment systems.
Recent market data indicates short-term challenges ahead. Analyst Ali Martinez has identified potential liquidation risks, noting that short positions worth $20.50 million could face liquidation if XRP reaches $2.62.
The current price level represents a substantial correction from recent peaks, with XRP trading in the $2.18 to $2.30 range. This correction phase has not deterred large investors, who appear to be viewing lower prices as buying opportunities.
Trading volumes have remained robust throughout these market movements, suggesting sustained investor interest despite price volatility. Market participants are closely monitoring whale activity as an indicator of potential future price direction.
The broader cryptocurrency market context has influenced XRP’s performance, with Bitcoin and other major cryptocurrencies also experiencing price fluctuations. These market-wide movements have created opportunities for strategic position-taking by larger investors.
Technical analysis of XRP’s price patterns shows the cryptocurrency has maintained key support levels during recent corrections. This stability has encouraged continued accumulation by larger market participants.
Market data reveals increasing institutional involvement in XRP trading. Professional traders and investment firms have shown growing interest in the asset, as evidenced by rising futures market activity.
Daily trading patterns indicate regular large-scale transactions, suggesting ongoing institutional positioning in the market. These movements have contributed to price volatility while maintaining overall market liquidity.
The most recent market data shows XRP trading volumes concentrated across major cryptocurrency exchanges, with consistent buying pressure from larger market participants continuing to influence price action.
The post XRP Price to $35? Inside the Massive December XRP Accumulation by Crypto’s Biggest Players appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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