TLDR:
- XRP price is currently at $2.18 to $2.30, with analysts predicting a potential rise to $10 by the first quarter of 2025 based on similar patterns to 2017
- Whales have accumulated 80 million XRP coins since December 17, showing strong market confidence despite the recent corrections
- Ripple plans to donate $5 million to Trump’s inauguration fund, alongside contributions from Coinbase and Kraken
- The cryptocurrency futures open interest rose 11.39% to $2.01 billion, indicating growing investor activity
- The launch of Ripple’s stablecoin RLUSD aims to improve liquidity across the XRPL platform
The price of XRP is around $2.20 as large investors, so-called whales, continue to build significant positions. Market data shows that these whales have added 80 million coins to their holdings since December 17, despite recent market corrections.
Price activity showed significant volatility, with XRP reaching $2.30 after a 15% rise in recent trading. This move coincides with increased trading activity, according to data from CoinGlass, evidenced by an 11.39% increase in futures open interest to $2.01 billion.
Technical analysts have drawn parallels between current market conditions and those of 2017. Crypto analyst Cryptoinsightuk has highlighted patterns that suggest XRP could potentially reach $10 by the first quarter of 2025 if it follows similar trends. The analyst’s predictions go even further, suggesting possible prices of up to $35 by the end of 2025.
I’ve overlaid the 2017 bar pattern, but also adjusted it to size relative to our recent breakout.
If we continue to follow this pattern of percentage gains this cycle, we could see $10+ in Q1 and $10+ in Q3/4. Q4 2025 will see a moon boy rise to around $35.
— Cryptoinsightuk (@Cryptoinsightuk) December 22, 2024
The cryptocurrency market dynamics take place against the backdrop of political developments. Donald Trump’s election victory has sparked discussions about possible changes in US cryptocurrency regulation. The president-elect has expressed his intention to position the United States as a cryptocurrency hub.
Ripple, the company closely linked to XRP, has announced plans to contribute $5 million to Trump’s inauguration fund. The move is in line with similar pledges from other major crypto companies, with Coinbase and Kraken each planning to raise $1 million.
In technological developments Ripple has launched its stablecoin called RLUSD. Market observers believe that this addition could improve liquidity across the XRPL platform and potentially strengthen XRP’s role in global payment systems.
Current market data suggests short-term challenges. Analyst Ali Martinez has identified potential liquidation risks, noting that $20.50 million worth of short positions could be liquidated if XRP hits $2.62.
The current price level represents a significant correction from recent highs, with XRP trading in the $2.18 to $2.30 range. This correction phase has not deterred large investors, who appear to view lower prices as a buying opportunity.
Trading volumes remained robust throughout these market moves, suggesting continued investor interest despite price volatility. Market participants closely monitor whale activity as an indicator of possible future price movements.
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 larger investors to take strategic positions.
Technical analysis of XRP price patterns shows that the cryptocurrency has maintained key support levels during recent corrections. This stability has encouraged further accumulation of larger market players.
Market data shows increasing institutional participation in XRP trading. Professional traders and investment firms have shown growing interest in the asset, as evidenced by increasing activity in the futures market.
The daily trading patterns suggest regular large transactions, suggesting continued institutional positioning in the market. These moves have contributed to price volatility while maintaining overall market liquidity.
The latest market data shows that XRP trading volumes are concentrated on major cryptocurrency exchanges, with ongoing buying pressure from larger market participants continuing to influence price action.
