The remarkable growth of Ripple (XRP) in November 2024 has revived hope and excitement in the cryptocurrency market, especially as XRP broke its previous ATH (All-Time High) and set a new peak price. Here are some highlights:
Performance and price prediction $XRP
1. Outstanding ROI: #XRP has increased more than 4 times in November 2024, generating the best returns since the historic bull run of 2017.
2. Price target for 2025:
• Trader Jacob Canfield predicts XRP could rise to around $6.60, double the expected price of $3.44 based on Fibonacci extension and previous XRP/BTC pair performance.
• Tony Edward from Thinking Crypto also sets a target in the range of $5-$8, but advises investors to be cautious with their profit-taking strategy.
On-chain data supports the upward trend
• Strong accumulation from large wallets:
• According to statistics from Santiment, wallets holding 1 million - 10 million XRP have purchased an additional 679.1 million XRP (worth $1.6 billion) in just 3 weeks.
• Entry of retail investors (newbies): Price behavior indicates that new players are prioritizing popular assets like XRP.
Growth in the derivatives market
• Open interest (OI) reached a new ATH of $3.99 billion, nearly doubling since the end of November 2024. This reflects strong investor interest in both the spot market and futures contracts.
End of year milestone for 2024
If XRP maintains a price above $1.99 at the time of December 31, 2024, it will be the highest closing price in history. This is a positive sign, further reinforcing confidence in XRP's ability to continue breaking out in 2025.
