Date: December 17, 2024
Crypto market analyst CryptoInsightUK has shared an optimistic outlook for XRP, forecasting a potential price surge by Christmas. This comes after he conducted a poll on X (formerly Twitter) to gauge community sentiment regarding XRP's price movement by December 25.
Currently, XRP is trading at $2.51, reflecting a 0.64% increase earlier today. The altcoin has been steadily climbing since December 15, recording a 4.21% gain as it attempts to break past the crucial $2.40 resistance level.
Community Sentiment
CryptoInsightUK's poll asked participants to predict XRP's price trajectory for Christmas. The options included:
Below $2
Between $2 and $3.30
Between $3.30 and $5
Above $5
Out of 2,033 respondents, a significant 36% anticipated XRP to trade between $2 and $3.30, while 30% expected it to rise to a range of $3.30 to $5. Notably, 26% predicted XRP could surpass $5, and only 8% foresaw a drop below $2. This overwhelmingly bullish sentiment indicates that 92% of participants expect XRP to maintain or exceed the $2 price mark by Christmas.
Analyst Projections
Building on this community feedback, CryptoInsightUK shared his own forecast. He predicts that XRP could rise to $5 by New Year’s Eve and reach double-digit prices (above $10) between January and March 2025.
Crypto market analyst BobbyA also offered his perspective, suggesting that XRP could trade between $4.50 and $5.25 by Christmas. However, he warned of a potential selloff following this rise, but he remains optimistic about a subsequent rally, expecting XRP to climb to a range of $8 to $13, with a possible extension into the $20s.
CryptoInsightUK's earlier projection of an $8 target for Christmas is still valid, but he clarified that $5 is his base case scenario, with the higher figure remaining a possibility if the bullish momentum accelerates.
Other analysts, such as Vincent Van Code, also see XRP reaching $5, but he believes this milestone is more likely to be achieved in February 2025, not by the end of this year.
Current Market Status
At the moment, XRP is trading at $2.51, representing a 4.75% gain in the past 24 hours. To hit the $5 target, XRP would need to rally nearly 99% from its current price. For context, XRP was trading around $0.60 on December 25, 2023, indicating a significant price increase over the past year.
Disclaimer
This content is intended for informational purposes only and should not be viewed as financial advice. The opinions expressed are those of the respective analysts and do not reflect the stance of The Crypto Basic. Readers are encouraged to conduct their own research before making any investment decisions
XRP (Ripple) News, XRP Price Prediction