Latest update on XRP (Ripple) as of December 11, 2024
1. Recent price fluctuations
Strong growth: In the past 30 days, XRP has increased by 333%, becoming one of the fastest-growing cryptocurrencies in the top 10.
Slight decline after peak: After reaching a yearly high on December 3, the price of XRP has dropped nearly 18%, indicating a correction following a strong surge.
2. Whale activity and cash flow
Significant profit-taking: Large investors (whales) have realized over 4 billion dollars in actual profits in the past three days, showing strong profit-taking activity.
Cash flow out of exchanges decreases: The amount of XRP withdrawn from exchanges is decreasing, raising questions about the ability to maintain the current price level.
3. Technological development and collaboration
Software update: Ripple has released a new version for the XRP Ledger software (version 2.2.1) and called for servers to upgrade, aiming to improve performance and security. citeturn0search6
New collaborations: The online trading platform Robinhood has relisted XRP for customers in the U.S., helping to increase liquidity and reach users.
4. Legal situation
Lawsuit with SEC: The legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) continues, with new developments focusing on investors. The outcome of the lawsuit will significantly impact the future of XRP.
5. Predictions and outlook
Potential price level: If XRP recovers above $2.58, it could reach a new all-time high, depending on market and legal factors.