NAIROBI (CoinChapter.com)—Ripple (XRP), the fourth-largest cryptocurrency by market capitalization, dropped nearly 10% this week but held firm at $2.23 on Dec. 24, fueling renewed investor optimism.
XRP Faces Market Correction but Retains Bullish Momentum
Ripples token witnessed a sharp decline from $2.50 on Dec. 17 to $1.96 within days, coinciding with a broader market pullback triggered by Federal Reserve policies. The token recovered slightly to hover around $2.23, a price level highlighted as critical by analysts.
Whales accumulate 80M XRP since Dec. 17 correction. Source: Ali Martinez
Ali Martinez noted that XRP must hold above $2.20 to avoid a drop to $1.96 or lower. Breaking above $2.70 could trigger a rally to retest this year’s high of $2.90.
Meanwhile, chartists such as Javon Marks have identified a hidden bullish divergence on XRP’s 4-hour chart. Marks projects a potential surge beyond $2.90, aligning with broader bullish sentiment in the market.
Analyst Predicts XRP Surge to $35 by 2025. Source: X
Similarly, CryptoInsightUK, a technical analyst, predicts XRP could rally to $10 in early 2025 and $35 by year-end if current bullish patterns persist.
Whale Exodus or Accumulation?
Data from Messari shows a drop in addresses holding at least one million XRP throughout December. This trend suggests that certain whales may be cashing out during the token’s consolidation phase. When these significant players reduce their positions, extra XRP floods the market. If buying interest weakens, this can weigh on price.
50M XRP transferred: Ripple’s big move sparks speculation. Source: Whale Alert
At the same time, other large holders have reportedly scooped up about 120 million tokens in recent weeks. Ripple itself transferred 90 million XRP—worth over $200 million—into undisclosed wallets. This mixed whale behavior has left traders guessing whether the token is headed for a strong bounce or another decline.
Ripple CTO teases with ’10X’ bubbles hint. Source: X
Ripple CTO David Schwartz added to the buzz with a cryptic tweet about “10x times,” sparking rumors of a possible big move. Though not an official forecast, it fueled discussions among supporters hopeful for a breakout.
Whales are sending mixed signals, and the broader market remains wary of global economic factors. Traders will be watching volume levels, whale activity, and any shifts in regulatory news. A decisive break above the descending channel’s upper boundary could confirm renewed bullish momentum. Conversely, further profit-taking by large holders could drag the price down again.
