Data on Tradingview shows that XRP broke through $1 to hit a three-year high of $1.26 on November 11, 2021. The surge suggests expectations of favorable regulatory changes and a possible end to Ripple's long-running legal dispute with the U.S. Securities and Exchange Commission.
However, on November 17, the price fell sharply, by as much as 20%, triggering a massive shift in XRP’s flow and holding distribution.
Data from CryptoQuant shows that XRP reserve balances on exchanges increased by 3% in the ten days ending November 16. Between November 13 and 16, XRP prices rose 56%, while exchanges’ XRP reserves increased by 44 million.
XRP trading volumes in the millions as rally stalls
Whale Alert revealed that tens of millions of XRP flowed into the Bitstamp exchange, coinciding with the XRP price pullback on November 17. The exchange received 10 million XRP from a whale who may have hoped to profit from the recent price surge.
According to Santiment, wallets holding between 1 million and 100 million XRP sold a total of 453.3 million tokens (about $526.3 million) in the past week. These tokens mainly came from small retail investors, whose wallets (holding less than 1 million XRP) sold a total of 75.7 million tokens (about $87.9 million).
Retail traders increased their selling activity, likely to book profits, while larger wallets took the opportunity to accumulate XRP, leading to positive growth in the market capitalization.
On November 17, CoinGlass revealed that the XRP derivatives market liquidated more than $12.6 million. The sudden drop in XRP prices caught long traders off guard, resulting in liquidations of $9.1 million. In the past 2-3 hours alone, more than $3 million in leveraged long positions were liquidated.
XRP’s long-term outlook remains bullish until 2030
Although XRP is expected to drop 23% by November 18, Changelly’s analysis shows that by 2030, XRP’s minimum price target is $5.36, with a possible peak of $6.36.
Technical indicators show that market sentiment is 88% bullish, with the Fear and Greed Index at 86 (extreme greed). In the long term, the data predicts a minimum price target of $255.67 and a maximum peak of $325.86 by 2040. By 2050, the minimum price target is expected to be $410.96 and the maximum peak is expected to be $482.87.
Similarly, analysts at Margex speculate that XRP’s maximum price could reach $2.21, depending on the outcome of the SEC case and the formation of a bullish divergence on the weekly RSI chart. However, optimistic data from CoinCDX predicts a price range of $1.8 to $3 for XRP in 2025.
