XRP has started the new year strong, with the price rising by 10% in the past 24 hours. This rise comes amidst the accumulation of 350 million XRP over the past two days.
On-chain data is pointing to further bullish momentum, suggesting that XRP’s rally may not be over. Here’s what could be next for the cryptocurrency.
XRP Holders Start 2025 Buying Big
On December 31, 2024, Ripple was worth $2.12. As of this writing, it has risen to $2.36, making it the highest-gaining cryptocurrency among the top 10.
According to BeInCrypto’s findings, this price surge could be linked to a massive XRP accumulation. Santiment data reveals that addresses holding between 100 million and 1 billion XRP increased their total balance from 9.36 billion on Tuesday to 9.71 billion today — buying 350 million tokens worth $826 million.
Such large accumulations usually indicate strong buying pressure, and if the trend continues, the price of XRP may see further upward momentum.
Along with this buying pressure, on-chain data shows a significant increase in the social dominance of a cryptocurrency. Social dominance, as the name suggests, measures the level of interest the market gives to a cryptocurrency.
When it increases, it indicates that there is a high level of discussion around the token compared to other assets in the top 100. However, a decrease indicates the opposite.
At press time, XRP’s social dominance was up to 5.61%, suggesting that demand for the token could increase if it continues to gain the attention it is currently receiving. If that is the case, XRP’s price could start the first month of this year above $3.
XRP Price Prediction: Bullish Momentum Continues
With XRP closing the year above $2, the daily chart shows that the altcoin has formed a bull flag. The bull flag pattern, which resembles a flag on a pole, is an important signal when analyzing cryptocurrencies.
It forms after a strong uptrend, followed by a short consolidation. This often leads to another sharp rise in price as investors anticipate the upward movement to continue. Usually, when the price breaks below the flag, a correction occurs. But in this case, the XRP price broke above the flag, indicating that the altcoin could rise to $3.25.
If the XRP accumulation process intensifies in large quantities, the price may be higher. However, if the token faces significant selling pressure, the trend may change, and the price may drop to $1.80.
If the XRP accumulation process intensifies in large quantities, the price may be higher. However, if the token faces significant selling pressure, the trend may change, and the price may drop to $1.80.
If the XRP accumulation process intensifies in large quantities, the price may be higher. However, if the token faces significant selling pressure, the trend may change, and the price may drop to $1.80.