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XRP price prediction: Can bulls break $1 barrier in 2024?Ripple scored a major win against the US Securities and Exchange Commission (SEC) in 2023, with XRP declared not a security. While XRP price surged amid the resulting exuberance, the rally faded just above the $0.94 mark in July.Another upside move collapsed above $0.74 in November. XRP price however remains well above the lows of $0.30 reached in January 2023. Although CoinGecko data shows the altcoin’s value has declined 8% over the past 30 days, its gains over the past year currently stand at 66%.XRP price chart. Source: TradingView Ripple’s established presence in the global payments market means further traction for XRP. Also notable is the imminent end to its legal battles with the SEC. Regulatory clarity combined with a confluence of positive market catalysts, including spot ETFs momentum, could be big for crypto, not just XRP.In this case, a break above $0.74 brings the $1 mark into view and could see XRP target $1.5. The all-time high for XRP/USD is $.40 reached in 2018.#XRPBullRun #ai

XRP price prediction: Can bulls break $1 barrier in 2024?

Ripple scored a major win against the US Securities and Exchange Commission (SEC) in 2023, with XRP declared not a security. While XRP price surged amid the resulting exuberance, the rally faded just above the $0.94 mark in July.Another upside move collapsed above $0.74 in November. XRP price however remains well above the lows of $0.30 reached in January 2023. Although CoinGecko data shows the altcoin’s value has declined 8% over the past 30 days, its gains over the past year currently stand at 66%.XRP price chart. Source: TradingView Ripple’s established presence in the global payments market means further traction for XRP. Also notable is the imminent end to its legal battles with the SEC. Regulatory clarity combined with a confluence of positive market catalysts, including spot ETFs momentum, could be big for crypto, not just XRP.In this case, a break above $0.74 brings the $1 mark into view and could see XRP target $1.5. The all-time high for XRP/USD is $.40 reached in 2018.#XRPBullRun #ai
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💸 Here is How Much $1,000 Invested in XRP Every Christmas Since 2013 is Worth Today 📊 Analysis Snapshot: The Evolution of a $1,000 XRP Investment Every Christmas Since 2013 As the crypto world rings in another festive season, let's unwrap the journey of a $1,000 investment in XRP made every Christmas since 2013. Amid the current market consolidation, XRP stands out as one of the most successful cryptocurrencies. However, questions linger about its current valuation compared to its historical performance. 🔍 Diving into the Past: XRP Performance Over the Years XRP Journey from 2013 to 2017: Bullish Bliss 🚀 In December 2013, the journey began with an explosive rally, securing 44,247 XRP tokens at $0.0226 each. Fast forward to 2023, and those tokens are now worth $27,371, marking a profit of $26,371. The trend continued in 2014, with a consolidation at $0.0233 on Dec. 25, resulting in today's value of $26,549. December 2015 witnessed a price upsurge, and an investment of $1,000 then now stands at an impressive $103,617. Moving to 2016, the $0.00635 price on Dec. 25 yielded 157,480 tokens, currently valued at $97,417. However, the festive season of 2017 saw a rally past $1, resulting in a loss for the $1,000 investment, now worth $609. Navigating the Storms: 2018 to 2022 🌊 December 2018 showcased XRP at $0.4037, turning a $1,000 investment into $1,532 today. The following year, a substantial drop led to a $0.1905 valuation, but the current value of the investment is $3,247. In 2020, amidst the SEC lawsuit, XRP dropped to $0.3393, and a $1,000 investment now stands at $1,823. Despite a surge in 2021, reaching $1.96 in April, a fall to $0.9119 by Christmas resulted in a $323 loss for the investment. 2022 witnessed more selling pressure, with XRP at $0.3517 on Dec. 25, turning a $1,000 investment into $1,959. 🚀 Stay Tuned for More Crypto Chronicles and Market Insights! #XRPBullRun #XRPWhaleAccumulation #XRPSurge #cryptocurrency #crypto2024
💸 Here is How Much $1,000 Invested in XRP Every Christmas Since 2013 is Worth Today

📊 Analysis Snapshot: The Evolution of a $1,000 XRP Investment Every Christmas Since 2013

As the crypto world rings in another festive season, let's unwrap the journey of a $1,000 investment in XRP made every Christmas since 2013. Amid the current market consolidation, XRP stands out as one of the most successful cryptocurrencies. However, questions linger about its current valuation compared to its historical performance.

🔍 Diving into the Past: XRP Performance Over the Years

XRP Journey from 2013 to 2017: Bullish Bliss 🚀

In December 2013, the journey began with an explosive rally, securing 44,247 XRP tokens at $0.0226 each. Fast forward to 2023, and those tokens are now worth $27,371, marking a profit of $26,371. The trend continued in 2014, with a consolidation at $0.0233 on Dec. 25, resulting in today's value of $26,549.

December 2015 witnessed a price upsurge, and an investment of $1,000 then now stands at an impressive $103,617. Moving to 2016, the $0.00635 price on Dec. 25 yielded 157,480 tokens, currently valued at $97,417. However, the festive season of 2017 saw a rally past $1, resulting in a loss for the $1,000 investment, now worth $609.

Navigating the Storms: 2018 to 2022 🌊

December 2018 showcased XRP at $0.4037, turning a $1,000 investment into $1,532 today. The following year, a substantial drop led to a $0.1905 valuation, but the current value of the investment is $3,247. In 2020, amidst the SEC lawsuit, XRP dropped to $0.3393, and a $1,000 investment now stands at $1,823.

Despite a surge in 2021, reaching $1.96 in April, a fall to $0.9119 by Christmas resulted in a $323 loss for the investment. 2022 witnessed more selling pressure, with XRP at $0.3517 on Dec. 25, turning a $1,000 investment into $1,959.

🚀 Stay Tuned for More Crypto Chronicles and Market Insights!

#XRPBullRun #XRPWhaleAccumulation #XRPSurge #cryptocurrency #crypto2024
🚀 Whale Moves: XRP Worth $12.6 Million Head to Prominent Exchange Amidst Mt. Gox Repayment Buzz 🌐 Ripple’s XRP Takes Center Stage In a striking market development, Ripple Labs Inc.'s cryptocurrency, XRP, is making waves as a substantial amount, 20 million tokens valued at $12.6 million, is on the move. A mysterious sender initiated this transfer to a major exchange, adding intrigue to the ongoing Mt. Gox repayment saga. 🔍 Mysterious Sender's XRP Shuffle Recent reports from the reputable crypto-tracking platform, Whale Alert, reveal a mysterious sender's transfer of 20 million XRP tokens worth $12.6 million. The sender's identity remains unknown, but the destination is clear - Bybit, a major crypto exchange. 🐋 Two More Waves of Whale Transactions The mysterious sender didn't stop at one move. In a span of 12 hours, two more substantial transactions unfolded. First, a transfer of 24.9 million XRP tokens worth $15.3 million made its way from an undisclosed wallet to Bitstamp, hinting at potential strategic selling. Another noteworthy transaction saw 25.2 million XRP moving from an unidentified wallet to Bitso, a prominent crypto trading platform, valuing at $15.54 million. ⚖️ Mt. Gox Drama Adds Intrigue The timing of these whale transactions coincides with the news of Mt. Gox, the long-dormant exchange, initiating compensation payments to users after over a decade of dormancy. Recent reports confirm users receiving refunds in Japanese yen via PayPal, triggering a ripple effect across the crypto market. 📉 Market Impact: Bitcoin and XRP React As the Mt. Gox revelation unfolds, Bitcoin witnessed a weekly low at $42,450. XRP experienced a 3.6% decline since the day’s opening, contributing to a 1.7% drop in the overall cryptocurrency market capitalization, totaling a staggering $27.7 billion. 🔗 Stay Informed, Stay Ahead! Follow The Blockopedia for Real-time Crypto Updates. #XRPBullRun #XRPWatch #crypto #cryptocurrency #crypto2023
🚀 Whale Moves: XRP Worth $12.6 Million Head to Prominent Exchange Amidst Mt. Gox Repayment Buzz

🌐 Ripple’s XRP Takes Center Stage

In a striking market development, Ripple Labs Inc.'s cryptocurrency, XRP, is making waves as a substantial amount, 20 million tokens valued at $12.6 million, is on the move. A mysterious sender initiated this transfer to a major exchange, adding intrigue to the ongoing Mt. Gox repayment saga.

🔍 Mysterious Sender's XRP Shuffle

Recent reports from the reputable crypto-tracking platform, Whale Alert, reveal a mysterious sender's transfer of 20 million XRP tokens worth $12.6 million. The sender's identity remains unknown, but the destination is clear - Bybit, a major crypto exchange.

🐋 Two More Waves of Whale Transactions

The mysterious sender didn't stop at one move. In a span of 12 hours, two more substantial transactions unfolded. First, a transfer of 24.9 million XRP tokens worth $15.3 million made its way from an undisclosed wallet to Bitstamp, hinting at potential strategic selling. Another noteworthy transaction saw 25.2 million XRP moving from an unidentified wallet to Bitso, a prominent crypto trading platform, valuing at $15.54 million.

⚖️ Mt. Gox Drama Adds Intrigue

The timing of these whale transactions coincides with the news of Mt. Gox, the long-dormant exchange, initiating compensation payments to users after over a decade of dormancy. Recent reports confirm users receiving refunds in Japanese yen via PayPal, triggering a ripple effect across the crypto market.

📉 Market Impact: Bitcoin and XRP React

As the Mt. Gox revelation unfolds, Bitcoin witnessed a weekly low at $42,450. XRP experienced a 3.6% decline since the day’s opening, contributing to a 1.7% drop in the overall cryptocurrency market capitalization, totaling a staggering $27.7 billion.

🔗 Stay Informed, Stay Ahead! Follow The Blockopedia for Real-time Crypto Updates.

#XRPBullRun #XRPWatch #crypto #cryptocurrency #crypto2023
first time #XRPBullRun $XRP showing something promising. since the bull run starts ,xrp forst time holding the price in upper circuit and consolidating for higher volume with the market cap 3.01 billion near to bnb. soon to flip bnb and come to 4th place. hope it will revive the Hope which is dead since 2017. be positive and keep eye. $BTC $ETH
first time #XRPBullRun $XRP showing something promising. since the bull run starts ,xrp forst time holding the price in upper circuit and consolidating for higher volume with the market cap 3.01 billion near to bnb. soon to flip bnb and come to 4th place.
hope it will revive the Hope which is dead since 2017.
be positive and keep eye.
$BTC $ETH
🚀 Ripple Shakes Up the Market: Locks 800M XRP in Escrow! 💎 In a strategic move, Ripple Labs Inc. has captured the market's attention by relocking a massive 800,000,000 XRP in escrow, further adding an intriguing layer to the cryptocurrency landscape. 🌐💰 Let's delve into the details and understand the potential impact on XRP's future. 1. Ripple's Escrow Lock-up: Unveiling the Numbers 📊 Ripple Labs executed a noteworthy XRP transaction, locking 800M XRP in escrow in two tranches. The first tranche, a staggering 500,000,000 XRP, holds a value of $308,354,921, while the remaining 300,000,000 XRP is worth $184,222,995. This move showcases Ripple's strategic approach to managing the XRP market dynamics. 2. Ripple's Monthly Escrow Release Strategy 🔄 Traditionally, Ripple releases 1 billion XRP from escrow every month, aimed at regulating market liquidity and ensuring long-term price stability. This unique strategy has become a defining feature of Ripple's commitment to the cryptocurrency's ecosystem. 💡 Insightful Analysis: Ripple Escrow Lock-up and Price Impact The recent release of 1 billion XRP triggered a bearish response, with XRP's price experiencing a 0.33% dip to $0.6206 in the last 24 hours. The market cap saw a marginal decline of 0.3% to $33,588,165,838, but trading volume surged by an impressive 20.47% to $763,801,745. 🔮 Future Outlook: Ripple's Transparent Escrow Account Program Ripple Labs has maintained transparency regarding its escrow release program, even providing a timeline for its conclusion in early 2027. This foresight offers the community a clear roadmap, fostering trust and stability in the XRP ecosystem. 🌐 Stay Informed, Stay Ahead! Follow The Blockopedia for Crypto Insights! 📰🚀 #XRP #XRPBullRun #XRPEscrow #cryptocurrency #crypto2024
🚀 Ripple Shakes Up the Market: Locks 800M XRP in Escrow! 💎

In a strategic move, Ripple Labs Inc. has captured the market's attention by relocking a massive 800,000,000 XRP in escrow, further adding an intriguing layer to the cryptocurrency landscape. 🌐💰 Let's delve into the details and understand the potential impact on XRP's future.

1. Ripple's Escrow Lock-up: Unveiling the Numbers 📊

Ripple Labs executed a noteworthy XRP transaction, locking 800M XRP in escrow in two tranches. The first tranche, a staggering 500,000,000 XRP, holds a value of $308,354,921, while the remaining 300,000,000 XRP is worth $184,222,995. This move showcases Ripple's strategic approach to managing the XRP market dynamics.

2. Ripple's Monthly Escrow Release Strategy 🔄

Traditionally, Ripple releases 1 billion XRP from escrow every month, aimed at regulating market liquidity and ensuring long-term price stability. This unique strategy has become a defining feature of Ripple's commitment to the cryptocurrency's ecosystem.

💡 Insightful Analysis: Ripple Escrow Lock-up and Price Impact
The recent release of 1 billion XRP triggered a bearish response, with XRP's price experiencing a 0.33% dip to $0.6206 in the last 24 hours.

The market cap saw a marginal decline of 0.3% to $33,588,165,838, but trading volume surged by an impressive 20.47% to $763,801,745.

🔮 Future Outlook: Ripple's Transparent Escrow Account Program

Ripple Labs has maintained transparency regarding its escrow release program, even providing a timeline for its conclusion in early 2027. This foresight offers the community a clear roadmap, fostering trust and stability in the XRP ecosystem.

🌐 Stay Informed, Stay Ahead! Follow The Blockopedia for Crypto Insights! 📰🚀

#XRP #XRPBullRun #XRPEscrow #cryptocurrency #crypto2024
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"XRP Desperately Seeks Ascent with $2.2B Surge - Are Profits Looming?"Recently, Martin Hiesboeck, the Head of Research at the U.S.-based exchange Uphold, highlighted that XRP appears poised to ascend to a fresh trading price range. Read more on: https://thecryptobasic.com/2023/12/09/uphold-head-of-research-says-xrp-looking-desperate-to-climb-amid-xrp-2-2b-volume/ #XRPUpdate #XRPSurge #XRPBullRun #XRPInvestment #CryptoNews🔒📰🚫

"XRP Desperately Seeks Ascent with $2.2B Surge - Are Profits Looming?"

Recently, Martin Hiesboeck, the Head of Research at the U.S.-based exchange Uphold, highlighted that XRP appears poised to ascend to a fresh trading price range.
Read more on: https://thecryptobasic.com/2023/12/09/uphold-head-of-research-says-xrp-looking-desperate-to-climb-amid-xrp-2-2b-volume/
#XRPUpdate #XRPSurge #XRPBullRun #XRPInvestment #CryptoNews🔒📰🚫
💰 Here Are Your Returns if You Hold 10K or 100K XRP and XRP Price Reaches $3.55, $5.33 and $7.76 Investors eyeing the potential resurgence of XRP have a lot at stake, especially as the crypto market gears up for what could be a substantial bull run. Let's delve into the potential returns for holding 10,000 and 100,000 XRP at various price points, as projected by the analysis conducted by Changelly. Returns for Holding 10K XRP 1. If XRP Reaches $3.55: Current Value: $6,112Projected Portfolio Value: $35,500Potential ROI: 480% 2. If XRP Hits $5.33: Projected Portfolio Value: $53,300Potential ROI: 771% 3. If XRP Soars to $7.76: Projected Portfolio Value: $77,600Potential ROI: 1,169% Returns for Holding 100K XRP 1. If XRP Reaches $3.55: Current Cost: $61,220Potential Gains: $355,000 2. If XRP Hits $5.33: Potential Gains: $533,000 3. If XRP Soars to $7.76: Potential Gains: $776,000 🚀 Insights and Considerations: Changelly's projections are based on a potential XRP bull market, with prices exceeding its previous all-time high. These estimations are not investment advice but aim to provide investors with insights into potential rewards and risks associated with XRP. Investors are advised to conduct thorough research and seek professional advice before making investment decisions. 📈 Stay Informed, Stay Prepared! The Crypto Journey Awaits. #XRPBullRun #XRPInvestment #crypto #cryptocurrency #crypto2023
💰 Here Are Your Returns if You Hold 10K or 100K XRP and XRP Price Reaches $3.55, $5.33 and $7.76

Investors eyeing the potential resurgence of XRP have a lot at stake, especially as the crypto market gears up for what could be a substantial bull run. Let's delve into the potential returns for holding 10,000 and 100,000 XRP at various price points, as projected by the analysis conducted by Changelly.

Returns for Holding 10K XRP

1. If XRP Reaches $3.55:
Current Value: $6,112Projected Portfolio Value: $35,500Potential ROI: 480%

2. If XRP Hits $5.33:
Projected Portfolio Value: $53,300Potential ROI: 771%

3. If XRP Soars to $7.76:
Projected Portfolio Value: $77,600Potential ROI: 1,169%
Returns for Holding 100K XRP

1. If XRP Reaches $3.55:
Current Cost: $61,220Potential Gains: $355,000

2. If XRP Hits $5.33:
Potential Gains: $533,000

3. If XRP Soars to $7.76:
Potential Gains: $776,000

🚀 Insights and Considerations:

Changelly's projections are based on a potential XRP bull market, with prices exceeding its previous all-time high.

These estimations are not investment advice but aim to provide investors with insights into potential rewards and risks associated with XRP.

Investors are advised to conduct thorough research and seek professional advice before making investment decisions.

📈 Stay Informed, Stay Prepared! The Crypto Journey Awaits.

#XRPBullRun #XRPInvestment #crypto #cryptocurrency #crypto2023
By December 2023, XRP will have deciphered an 800% nostalgia and the hope of reaching $1The month of December has been characterized by a cold spell for XRP for many years, with red charts and frigid winds each and every year. A number of purchasers continue to be concerned about the market since they recall the decline of 66% that occurred in 2021. The sounds of 2018, a year that saw an astounding 800% increase, sound like a Christmas carol when they are played in the distance. The XRP community is reminded of a period when XRP believed in the magic of year-end wonders, and they bring back childhood memories. Despite the fact that December charts used to be filled with Christmas happiness, XRP was caught in the shadow of previous trends, hoping that its luck would change by the time the year came to a close. Is There Going to Be a Difference in XRP This Month? There are traces of optimism for change in the air in December 2023, despite the fact that it is rather chilly outside. The issue that has to be answered is whether or not this month will be different, and whether or not XRP will finally be able to break free from the Scrooge-like grasp that has been restricting its performance till the end of the year. Even while CryptoRank's data, which is frequently like a Grinch to XRP's Christmas spirit, continues to depict a depressing image of December coming back, it is still a dismal picture. A cemetery of red bars may be seen across the chart (which can be found below). When the year comes to a close, each one displays a year's worth of losses. In spite of all, there is a brave evergreen that stands in the heart of this chilly landscape: 2017. The sparkling gains of 818% serve as a reminder of the potential that lies dormant inside XRP. There are two sides to the tale that are shown by the averages for XRP on the cryptocurrency market in December. The average return of 75% shines brightly like a holiday ornament, a reminder of times when the market was surging around this time of the year. On the other side, a median of minus four percent creates a shadow, a lump of coal that illustrates how unpredictable XRP's performances in December have frequently been. Nevertheless, this December has a dissimilar vibe. There is a subtle suggestion of change in the air, much like the promise of a mistletoe. The current market capitalization of XRP is $34 billion. TradingView.com is the chart. When one considers the pattern of frosty Decembers that XRP has had in the past, even a modest increase of 2% that may not appear significant in other circumstances feels like a significant event. There is a renewed warmth in the larger picture, despite the fact that the victories that occurred in December might not be permanent. All things considered, the fourth quarter of 2023 has been fairly successful, with a nice quarterly increase of 20.4%. There was a positive fourth quarter for the first time since 2017, making it the second-best quarter of the year. There is more to the speculations that are circulating about December than just adjustments in prices. Technical signs are pointing to the possibility of a bull run, which would be a significant departure from the downward trend that often occurs toward the end of the year. For XRP, there are going to be some challenging days ahead. When it comes to the possibility of an upward trend, there are three significant barrier levels that will be in the way: $0.63, $0.66, and $0.70. It is necessary for XRP to seize control of these positions, which were formerly battlegrounds between bulls and bears, in order for it to be able to break free from its previous limitations. It is not impossible to do so, despite the fact that the road is steep. On the other hand, the technical signals and resistance that have been observed this month are a sign of optimism, even though it is yet unclear what may bring such a transformation. In the event that XRP is able to overcome these levels of resistance, it may be on the verge of experiencing a significant increase, with the possibility of reaching the all-time high of $1 before the end of the current year. This is more than simply a narrative about figures and charts; it is a story about perseverance, going against the grain, and a ray of optimism in the midst of the icy grasp of December. In this narrative, XRP, which had been dormant at one time, comes to life with a great deal of potential. The reports that have been circulating since December make one thing abundantly clear: the winter blues may be on the verge of disappearing, and a brighter future may be on the horizon. The only thing that can tell us whether or not 2024 will be the beginning of a new $XRP is time. #XRPBullRun #xrp #crypto2023

By December 2023, XRP will have deciphered an 800% nostalgia and the hope of reaching $1

The month of December has been characterized by a cold spell for XRP for many years, with red charts and frigid winds each and every year. A number of purchasers continue to be concerned about the market since they recall the decline of 66% that occurred in 2021. The sounds of 2018, a year that saw an astounding 800% increase, sound like a Christmas carol when they are played in the distance.
The XRP community is reminded of a period when XRP believed in the magic of year-end wonders, and they bring back childhood memories. Despite the fact that December charts used to be filled with Christmas happiness, XRP was caught in the shadow of previous trends, hoping that its luck would change by the time the year came to a close.
Is There Going to Be a Difference in XRP This Month?
There are traces of optimism for change in the air in December 2023, despite the fact that it is rather chilly outside. The issue that has to be answered is whether or not this month will be different, and whether or not XRP will finally be able to break free from the Scrooge-like grasp that has been restricting its performance till the end of the year.
Even while CryptoRank's data, which is frequently like a Grinch to XRP's Christmas spirit, continues to depict a depressing image of December coming back, it is still a dismal picture. A cemetery of red bars may be seen across the chart (which can be found below).
When the year comes to a close, each one displays a year's worth of losses. In spite of all, there is a brave evergreen that stands in the heart of this chilly landscape: 2017. The sparkling gains of 818% serve as a reminder of the potential that lies dormant inside XRP.

There are two sides to the tale that are shown by the averages for XRP on the cryptocurrency market in December. The average return of 75% shines brightly like a holiday ornament, a reminder of times when the market was surging around this time of the year.
On the other side, a median of minus four percent creates a shadow, a lump of coal that illustrates how unpredictable XRP's performances in December have frequently been. Nevertheless, this December has a dissimilar vibe. There is a subtle suggestion of change in the air, much like the promise of a mistletoe.
The current market capitalization of XRP is $34 billion. TradingView.com is the chart.
When one considers the pattern of frosty Decembers that XRP has had in the past, even a modest increase of 2% that may not appear significant in other circumstances feels like a significant event. There is a renewed warmth in the larger picture, despite the fact that the victories that occurred in December might not be permanent.

All things considered, the fourth quarter of 2023 has been fairly successful, with a nice quarterly increase of 20.4%. There was a positive fourth quarter for the first time since 2017, making it the second-best quarter of the year.
There is more to the speculations that are circulating about December than just adjustments in prices. Technical signs are pointing to the possibility of a bull run, which would be a significant departure from the downward trend that often occurs toward the end of the year. For XRP, there are going to be some challenging days ahead.
When it comes to the possibility of an upward trend, there are three significant barrier levels that will be in the way: $0.63, $0.66, and $0.70. It is necessary for XRP to seize control of these positions, which were formerly battlegrounds between bulls and bears, in order for it to be able to break free from its previous limitations.
It is not impossible to do so, despite the fact that the road is steep. On the other hand, the technical signals and resistance that have been observed this month are a sign of optimism, even though it is yet unclear what may bring such a transformation. In the event that XRP is able to overcome these levels of resistance, it may be on the verge of experiencing a significant increase, with the possibility of reaching the all-time high of $1 before the end of the current year.
This is more than simply a narrative about figures and charts; it is a story about perseverance, going against the grain, and a ray of optimism in the midst of the icy grasp of December. In this narrative, XRP, which had been dormant at one time, comes to life with a great deal of potential.
The reports that have been circulating since December make one thing abundantly clear: the winter blues may be on the verge of disappearing, and a brighter future may be on the horizon. The only thing that can tell us whether or not 2024 will be the beginning of a new $XRP is time.
#XRPBullRun #xrp #crypto2023
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XRP Bulls Vs Bears – Whales Decide the Outcome
Read CoinChapter.com on Google News

YEREVAN (CoinChapter.com) – XRP whales have been a decisive force behind the token’s price fluctuations. However, before discussing their recent stance, let’s see what’s happening on XRP charts. XRP/USD has been consolidating sideways for the previous three sessions and held above the significant $0.6 support. As a result, the Dec 21 session saw the coin at $0.61.

XRP price on Dec 21. Source: CoinStats XRP Technicals See a Potential Break Ahead

Meanwhile, a detailed view of the XRP price action revealed that the token has been trading within a symmetrical triangle since its court-driven rally in mid-July. The triangle entails two converging trendlines with a similar slope. They connect the swing highs and lows, predicting a sharp move ahead, equal to the maximal triangle height, predicting an over 60% win or loss ahead.

XRP price action. Source: TradingView

But here’s the rub. The Symmetrical triangle does not indicate the vector direction. While the XRP bulls fight the bears, let’s see what the on-chain metrics have to say.

On-chain Metrics Say Bulls In Profit

Notably, XRP’s market capitalization stood at $32 billion on Dec 21, a whopping $22 billion less than the Realized market cap, suggesting the majority of XRP investors are in profit.

In detail, traditional market capitalization is the product of the current market price of a cryptocurrency and the total number of coins in circulation. Realized market cap, on the other hand, takes into account the price at which each unit of the cryptocurrency last moved. In other words, it’s the sum of the value of all coins at the price they were last traded, rather than the current market price.

XRP Realized market cap. Source: Messari

Generally, the high number of addresses in profit shows confidence in the underlying asset. Thus, could be construed as a bullish factor. However, when enough addresses are in profit, they tend to secure that profit by exiting the market. If that’s XRP Bulls’ plan, XRP might not make it to the bullish target.

Meanwhile, large XRP holders, in other words, the whales might have the key to more precise predictions. In detail, the fluctuations of their ranks and holdings could give retail investors a better clue of what’s coming.

XRP Whales Hold the Answer

Large XRP whales, i.e., addresses holding over $1 million and $10 million in XRP have not added new members to their ranks, while sharks and little shrimp stuffed their purses. Notably, the whales did not capitulate either. Generally, the number of large XRP whales has been steadily high since late October, which confirms the investor confidence mentioned above.

Number of XRP whales. Source: Messari

Did the bulls get discouraged by the fact that Solana (SOL) flipped XRP as the fifth-highest cryptocurrency by market cap? Not really, as Fund inflows to XRP in the week ending Dec 17 took third place after Solana and Cardano. According to CoinShares’ latest weekly report, the token’s inflows stood at $2.7 million. Considering the outflows from Bitcoin and Ethereum, XRP’s inflows could be considered a bullish factor.

Weekly fund flows. Source: CoinShares

In conclusion, while XRP price technicals could not give a definitive answer, on-chain metrics point to a bullish continuation ahead. However, the altcoin does not exist independently from the rest of the market. Thus, potential investors should watch macroeconomic factors closely, as well as fluctuations in the Bitcoin market to make a well-balanced decision.

The post XRP Bulls vs Bears – Whales Decide the Outcome appeared first on CoinChapter.
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