When discussing the standout narrative of 2024, Ripple’s XRP undeniably steals the show. This cryptocurrency faced significant challenges in recent years, grappling with investigations and legal battles initiated by the US Securities and Exchange Commission.
After three years of stagnation caused by regulatory pressures, XRP’s fortunes took a dramatic turn in 2024. Following the US elections, the token embarked on an impressive price surge, surpassing the $2 mark on December 2nd and hitting $3 on January 16th. XRP continues to make significant waves as we progress into 2025.
On January 19th, on-chain data revealed the transfer of 30 million XRPs valued at approximately $95.5 million from Upbit to an undisclosed crypto wallet. Speculation and excitement abound on Twitter/X, with many foreseeing XRP breaking $4 soon and bold projections reaching as high as $24.
So, what’s the latest scoop on XRP, and do these forecasts hold merit?
Notable Transfer of 30 Million XRPs by a Whale
Amidst the new year, on-chain data uncovered intriguing activity surrounding XRP. Reports indicate a substantial transfer of 30 million tokens from South Korea’s Upbit to an undisclosed wallet, sparking curiosity about XRP’s immediate trajectory.
— Whale Alert (@whale_alert) January 19, 2025
Although whale transactions often signal market optimism, analysts caution traders and holders to exercise prudence due to regulatory uncertainties and the inherent volatility of such assets.
XRP Displaying Bullish Momentum
Analysis of XRP’s charts indicates a positive upward trajectory. Experts observe the token breaking out of a symmetrical triangle formation that persisted for an extended period. This current pattern emerged following XRP’s peak at $3.80 in December 2017.
Ali Martinez suggests that XRP initiated this breakout from its pattern in November 2024, shortly after the US elections. Martinez sets a long-term price target of $15 for XRP, representing a substantial 5x increase from its current valuation.
Potential for XRP to Reach $20s
Despite conservative estimates targeting $4, enthusiastic supporters foresee XRP’s remarkable rally driving its price range towards $20 to $24. Notably, Davinci Jeremie (@Davincij15) predicts a potential surge to $24 in a social media post.
XRP may hit $24!!
Well well well…
— Davinci Jeremie (@Davincij15) January 17, 2025
While XRP continues its impressive ascent, Jeremie advises caution, emphasizing that XRP may not be a secure long-term investment for all. His recommendation leans towards a “Buy” signal, but with a reminder to exit the position prudently.
Featured image from Pexels, chart from TradingView
https://platform.twitter.com/widgets.js
