NAIROBI (CoinChapter.com)โ Rippleโs XRP, currently the fourth-largest cryptocurrency by market cap, experienced a volatile week, declining nearly 10% but stabilizing at $2.23 as of December 24. Despite the market correction, investor sentiment remains optimistic as analysts spotlight key price levels and whale activity driving market speculation.
๐๐๐ซ๐ค๐๐ญ ๐๐จ๐ซ๐ซ๐๐๐ญ๐ข๐จ๐ง ๐๐๐ฌ๐ญ๐ฌ ๐๐๐โ๐ฌ ๐๐ฎ๐ฅ๐ฅ๐ข๐ฌ๐ก ๐๐ฎ๐ญ๐ฅ๐จ๐จ๐ค๐ฅ
After reaching $2.50 on December 17, XRP saw a sharp retracement to $1.96, paralleling broader crypto market weakness linked to Federal Reserve policy adjustments. However, the token quickly rebounded to hover near $2.23, a critical support level identified by analysts. According to Ali Martinez, maintaining support above $2.20 is essential to prevent further losses toward $1.96. On the upside, breaking past $2.70 could pave the way for a retest of the annual high at $2.90. Technical expert Javon Marks highlights a bullish divergence on XRPโs 4-hour chart, reinforcing the potential for a breakout above $2.90 in the coming weeks.
๐๐ก๐๐ฅ๐๐ฌ ๐๐ง๐ ๐๐ง๐ฌ๐ญ๐ข๐ญ๐ฎ๐ญ๐ข๐จ๐ง๐๐ฅ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐๐ข๐ ๐ง๐๐ฅ ๐๐ข๐ฏ๐๐ซ๐ ๐๐ง๐ญ ๐๐ซ๐๐ง๐๐ฌโด๏ธ๐ค
Data from Messari indicates a notable decline in whale addresses holding over one million XRP during December, suggesting a possible sell-off during the tokenโs consolidation phase. Increased selling pressure from such large holders could flood the market and weigh on prices. Conversely, reports show significant accumulation, with some whales acquiring 120 million XRP post-correction. Ripple itself transferred 90 million tokensโvalued at over $200 millionโinto undisclosed wallets, raising speculation about potential strategic moves.
๐๐๐'๐ฌ ๐๐จ๐ง๐ -๐๐๐ซ๐ฆ ๐ ๐จ๐ซ๐๐๐๐ฌ๐ญ ๐ ๐ฎ๐๐ฅ๐ฌ ๐๐ฑ๐๐ข๐ญ๐๐ฆ๐๐ง๐ญ๐ฒโ๐ข
Analysts project a bullish trajectory for XRP, with CryptoInsightUK forecasting a potential surge to $10 in early 2025 and up to $35 by year-end if market conditions align. Ripple CTO David Schwartz further ignited speculation with cryptic hints of a โ10xโ growth opportunity, stoking excitement among traders and investors. Despite mixed signals from whale activity, traders are advised to monitor key technical levels and regulatory developments closely. A confirmed breakout above the descending channelโs resistance could signal renewed bullish momentum, while continued selling pressure from large holders may test support levels once more.
