If there is one interesting statement to study and revisit in 2024, it is Ripple's XRP. For those who know, this crypto had a few years due to the ongoing issues and investigations launched by the US Securities and Exchange Commission.
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For three years, the price of XRP remained on the sidelines due to pressure from the SEC. But the XRP story changed dramatically in 2024. Days after the US elections, it started a parabolic price climb, breaking the $2 level on December 2nd and the $3 level on January 16th. XRP is making waves three weeks into 2025.
Last January 19, on-chain data suggests that 30 million XRP worth about $95.5 million was transferred from Upbit to an unknown crypto wallet. Also, Twitter / X is full of price predictions, with many expecting XRP to break $4 soon and others going bolder with a price projection of $24.
So, what is going on with XRP – and are these predictions made on solid ground?
A whale reportedly transferred 30 million XRP
Three weeks into the new year, data on an interesting activity chain for XRP emerged. Multiple reports claim that the XRP whale agreed to transfer 30 million tokens from South Korea's Upbit to an undisclosed crypto wallet. The massive asset move raises questions and speculation about XRP's short-term direction.
🚨 🚨 🚨 🚨 30,000,000 #XRP (95,519,899 dollars) transferred from # Be to an unknown wallethttps://t.co/FwwJoMhxET
– Whale Alert (@whale_alert) January 19, 2025
Whale Alert's Twitter/X page had little information other than the timestamp, on January 19 (05:09:42 UTC), that it was under a fee of 0.01 XRP.
Although the whale business shows optimism in the market, some analysts advise caution. Market traders and holders are advised to proceed with caution, considering current regulations and the inherent volatility of these indices.
XRP On A Bull Pattern
Based on its charts, some experts believe that the XRP price trend is going up. Experts say that the price of the asset is moving out of a symmetrical triangle in which it has been for years. The asset's current pattern began after it reached its all-time high of $3.80 last December 2017.
According to Ali Martinez, XRP has broken out of this pattern starting in November 2024, days after the US elections. Martinez offers $15 as the long-term target for XRP, which is 5x its current price.
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The price of XRP can exceed the $20s
Don't forget about the target price of $4 that some viewers float. If one Bitcoin supporter is to be believed, a bullish run can send the altcoin to the $20 to $24 price range. In a social media post, Davinci Jeremie (@Davincij15) predicts that XRP could hit $24.
XRP can hit $24!!
Well well… 💩 XRP could hit $20 – $24, but it's not a safe long-term investment for everyone. Trade, but don't take it blindly. pic.twitter.com/JOpUiSGkpm
— Davinci Jeremie (@Davincij15) January 17, 2025
Jeremie's optimism comes as XRP runs an impressive price run that began late last year. Currently, the Ripple token is trading at a seven-year high, beating the performance of other digital assets.
However, Jeremie downplayed his projections, saying Ripple's XRP might not be a “safe long-term investment for everyone. In short, Jeremie offers a “Buy” signal for XRP, but one should know when to exit the position.
Featured image from Pexels, chart from TradingView
