Bitcoin Maxi Calls It Risky but Possible
If there’s one exciting story in 2024 that’s worth studying and revisiting, it’s Ripple’s XRP. For those familiar with the matter, the cryptocurrency has had a rough few years due to ongoing cases and investigations by the Securities and Exchange Commission.
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For three years, XRP prices have been trading sideways due to pressure from the SEC. But the XRP story changes dramatically in 2024. A few days after the US election, it began a parabolic price climb, breaking above $2 on December 2 and $3 on January 16. Three weeks from now in 2025, XRP will be making waves.
On January 19 last year, on-chain data showed that 30 million XRP worth approximately $95.5 million was transferred from Upbit to an unknown crypto wallet. Additionally, Twitter/X is awash with price predictions, with many predicting that XRP will soon surpass $4, while others are more boldly placing price predictions at $24.
So, what happened to XRP? Are these predictions warranted?
Whales reportedly moved 30 million XRP
Three weeks into the new year, on-chain data is showing interesting activity in XRP. Multiple reports claim that XRP whales approved the transfer of 30 million coins from South Korea’s Upbit to an undisclosed crypto wallet. The huge asset transfer has raised questions and speculation about XRP’s short-term direction.
🚨🚨🚨🚨30,000,000 #ripplecoin ($95,519,899) Reprinted from #Upbit To unknown wallethttps://t.co/FwwJoMhxET
— Whale Alert (@whale_alert) January 19, 2025
Whale Alert’s Twitter/X page shares little information other than a timestamp of January 19th (05:09:42 UTC), which states that it requires a fee of 0.01 XRP.
While whale trading reflects optimism in the market, some analysts advise caution. Market traders and holders are advised to exercise caution, taking into account current regulations and the inherent volatility of these tokens.
XRP is in bullish mode
According to its charts, some experts believe that XRP’s price action is rising. Experts say the asset’s price is moving away from the symmetrical triangle it has been in for years. The asset’s current pattern began after hitting an all-time high of $3.80 in December 2017.
According to Ali Martinez, XRP broke out of this pattern starting just days after the November 2024 US election. Martinez’s long-term target price for XRP is $15, which is 5 times the current price.
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XRP price may peak around $20
Forget the $4 price target some observers have set. If one Bitcoin supporter is to be believed, a bullish move in the altcoin could push its price into the $20 to $24 range. Davinci Jeremie (@Davincij15) predicted in a social media post that XRP could reach $24.
XRP could hit $24!
Ok ok… 💩 XRP may reach $20 – $24, but it’s not a safe long-term investment for everyone. Trade, but don’t hold blindly. pic.twitter.com/JOpUiSGkpm
— Da Vinci Jeremy (@Davincij15) January 17, 2025
Jeremie’s optimism comes from XRP’s impressive price gains starting late last year. Ripple is currently trading at a seven-year high, outperforming other digital assets.
However, Jeremie tempered his prediction, saying Ripple’s XRP may not be “a safe long-term investment for everyone.” In short, Jeremie provides a “buy” signal for XRP, but one should know when to exit the position.
Featured images from Pexels, charts from TradingView
