XRP whales expecting $1 before 2024! Is it possible?

The majority of the crypto whales are expecting a significant increment in the trade price of XRP, as we are heading toward a near year. 

XRP is the native coin of the XRP Ledger (XRPL). Ripple Labs is the backend developer firm behind this crypto project. Ripple is a popular fintech firm in the world because of its unique cross-border payment solution which is based on XRP coin use. For the last 3 years, Ripple has been under huge legal hurdles because of a lawsuit filed by the United States Securities and Exchange Commission (SEC) over Ripple’s business in link with XRP coin.

The current trade price of XRP coin is $0.63 & this trade price is only 86% higher year to date (YTD). 

In July of this year, the trade price of the XRP coin fluctuated around $0.8 following the development related to the Ripple vs SEC lawsuit but later this coin saw a downfall in step-by-step phases. 

As we know, only 2 days remaining to enter in 2024, so currently the majority of the XRP whales are expecting to see a big pump in the trade price of the XRP coin. 

The surging interest level of XRP coin among the crypto whales can be seen in the bulk XRP trading activities. 

According to popular crypto analyst Ali Martinez, major crypto investors acquired approximately 360 million XRP between December 14 and 22. That means a net $220 million money inflow in the XRP coin market in only 8 days. 

#Ripple whales have bought around 360 million $XRP over the past week, worth roughly $223 million! pic.twitter.com/VKmRowPwbo

— Ali (@ali_charts) December 22, 2023

Apart from expectations, the current analysis showed that the trade price of XRP coin is very near to showing a rally & hit $0.85 maximum in the next 7 days, which is not a much good prediction picture for XRP coin lovers. 

#XRP The weekly analysis indicates a bullish trend with the occurrence of a golden cross. However, for a more decisive upward movement, the price must breach the upper trendline. It's essential for the price to successfully close above $0.85214 on the weekly timeframe to trigger pic.twitter.com/k72F8LmMsx

— Xeolden (@Weihong25409516) December 29, 2023

Crypto market sentiments

The current crypto greed & fear index is 65 which means the majority of the crypto Investors are optimistic about the current crypto market situation & not expecting any downfall for the upcoming weeks.

So here we can expect that XRP still has better potential to hit $0.8 easily in the next week but it is only the probability as per sentiments, so should not consider this analysis as financial advice.

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