XRP: historical highs in sight

As the end-of-year holidays approach, the crypto market lights up, and several digital currencies emerge as promising gifts. Among them, XRP shines brightly, attracting both institutional investors and individuals. With a spectacular return in November, Ripple's token seems ready to set new historical highs.

As the festive end-of-year period approaches, several digital currencies are emerging as promising gift options. Among them, XRP shines brightly, attracting both institutional investors and individuals. With a spectacular return in November, Ripple's token seems ready to set new historical highs. But what exactly is driving this XRP hype and what can we expect for the future of this altcoin? Let's take a closer look.

XRP price analysis: historical highs in sight

In November 2024, XRP recorded a spectacular ROI of 297%, surpassing its previous peak from 2021. This performance, the best among the top 100 cryptocurrencies, brought its price to $1.95, its highest level in seven years.

After setting a new 2024 high on November 22, XRP fiyatı then began to consolidate, showing signs of a potential correction. However, the token managed to hold above the key support level of $1.50, setting the stage for another attempt at historical highs.

Best crypto to buy today 20 December: XRP fiyatı doubles in seven weeks, can it reach $6.60 next?

Some analysts, like Jacob Canfield, estimate that the XRP price could double its previous record of $3.40 to reach $6.60 by 2025. Based on Fibonacci extensions and BTC's relative performances in 2017, Canfield describes this level as “the ideal FOMO target.”

Tony Edward, founder of the Thinking Crypto podcast, shares a similar but more cautious perspective, placing the target price between $5 and $8. To reinforce this optimistic scenario, on-chain data reveals a growing enthusiasm among investors.

XRP wallets have reached 5.5 million active users, an unprecedented figure in eight years. This surge indicates renewed interest in Ripple. Moreover, XRP wallets with 1 to 10 million tokens have been on an acquisition spree.

Whales propel Ripple's crypto to new horizons

Institutional investors, dubbed the “wholes” continue to wield significant influence over XRP's momentum. Over the past three weeks, wallets holding between 1 and 10 million XRP have accumulated 679.1 million tokens, an average of 45.94 million XRP per wallet. At the current price, these tokens are valued at $1.6 billion.

This massive accumulation reflects an unwavering confidence in Ripple's future potential. Some notable figures:

On December 10, a single wallet acquired 100 million XRP tokens, valued at $195 million.

Another wallet gradually increased its XRP holdings, adding 50 million, 30 million, and 20 million tokens on three separate days.

A third wallet also joined the buying spree, purchasing 70 million XRP tokens in one go.

Collectively, these three wallets alone added 220 million XRP tokens to their portfolios.

Institutions continue to show a strong preference for XRP, despite the token's recent legal troubles. This interest is largely driven by Ripple's promising technological advancements and its potential to revolutionize cross-border payments.

As XRP fiyatı continues to soar, setting new records, it's clear that both institutional investors and individuals are flocking to acquire this altcoin. But what's next for XRP?

With the festive period approaching and crypto markets experiencing a bullish run, anything is possible. One thing's for sure, Ripple isn't done making headlines.

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La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose