Analyst: XRP's 'FOMO' target price surges to $6.6 in 2025
In the past month, XRP has been on the rise, accumulating over $1.6 billion in tokens from both large and small holders. An analyst mentioned that at this momentum, XRP's price could break $6 in 2025, hitting a new high!
XRP's performance this month has been impressive, rising 297% in November, surpassing even the peak of 2021 for the first time in seven years.
In the last 24 hours, XRP has increased by over 20%. An analyst, Jacob Canfield, stated that XRP could double from its previous high of $3.4, surging to $6.6!
Canfield analyzed Fibonacci extensions and compared XRP's historical performance with BTC, believing that the current BTC price is five times the peak XRP price in 2017, making a rise to $6.6 reasonable.
Another analyst, Tony Edward, the founder of the Thinking Crypto podcast, also believes XRP can reach between $5 to $8 but advises to take profits when possible.
Speaking of new retail, cryptocurrency educator Neil said that XRP's recent surge owes much to new retail investors, who love to invest in mainstream assets frequently mentioned in the news.
Not only is the price rising, but XRP's on-chain data is also looking good. Large whales and small retail investors are increasing their holdings. Data shows that in the past three weeks, wallets holding between 1 million to 10 million XRP have accumulated 679.1 million tokens, worth $1.6 billion!
Currently, XRP's non-empty wallets have exceeded 5.5 million for the first time in eight years!
The futures market is also bustling, with XRP's open interest on December 2 reaching a new high of $3.99 billion, nearly doubling from $2.06 billion on November 28! Spot, futures, and trading volume are all increasing, indicating genuine interest in Ripple's native cryptocurrency!
This upward trend is very favorable for XRP, facing almost no resistance above. If XRP can close above $1.99 by the end of 2024, it would mark the highest annual closing price in history!
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