Can Ripple (XRP) turn things around on Christmas? Listen to what analysts say
Ripple (XRP) recently fell from $2.5 to below $2, but it is back to $2.25. Analysts are watching and think that XRP may rise sharply in the next few weeks.
In the past week, XRP's big holders bought 120 million tokens. With less supply, the price may rise.
Is this the last sprint?
XRP has fallen badly recently, and it is one of the most severely falling cryptocurrencies on the market. Starting from December 17, the price fell from $2.5 to below $2 three days later. However, it has risen back a little in the past few days, and is now about $2.25 (according to Coingecko data). But compared with last week, it is still down 10%.
Although the price has adjusted a bit now, many analysts are still optimistic about XRP and think it will rise sharply soon. For example, there is a big guy named Crypto Bitlord, who has nearly 400,000 followers. He said that "the big rise in 2024 is coming." There are also market observers who predict that it will rise to $12 next month, saying that "the rise is just beginning now."
Javon Max is also bullish. He looked at the 4-hour chart of XRP and felt that there were signs of "bullish divergence" and that the price could exceed $2.9 or even set a new high.
CrediBULL Crypto also thinks that the XRP/BTC chart is "festive to look at" and is "one of the most bullish charts." They are also planning to open a long position in a few days.
Big players are taking action
As soon as the Federal Reserve announced that it would cut interest rates again and said that it might suspend policy adjustments next year, XRP's big players began to take action.
On December 20, a big guy named Ali Martinez said that these big investors bought 80 million tokens in three days. This morning (December 24), he said that whales bought another 40 million.
Once the big players buy, the circulation of XRP will decrease, and the price may go up (if the demand remains the same or increases). Once the big players sell, small retail investors may follow suit, and the price is more likely to go up.
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