The recent ups and downs in the cryptocurrency market, alternating between bearish and bullish runs, are leaving many to wonder what to expect in the future from the major digital assets such as XRP.
Often, the actions of ‘whales’, or those who hold vast amounts of a particular cryptocurrency, may be used as a basis for making evaluations. In terms of the XRP whales – those holding between one and ten million of the coin – one thing has been clear.
Whales have collectively been accumulating the coin and currently hold their highest percentage of the asset’s supply in the last two months, as published by the on-chain and social metrics platform Santiment on May 25.
The chart posted by the analytics firm demonstrates this fact – indicating that the whale addresses had a 2.4% increase in their total holdings in as little as 11 days. According to the tweet:
“This is the most active tier of non-exchange holders, and currently hold 6.12% of all XRP.
As things stand, the DeFi asset is currently trading at $0.3894, a 2.36% drop from the day before and a 4.62% over the previous week.
Meanwhile, as Finbold reported in early May, fintech specialists are expecting the price of XRP to soar to $2.55 by the end of 2022. However, they base this prediction on the outcome of Ripple’s legal battle against the U.S. Securities and Exchange Commission (SEC) – if the blockchain company wins or settles the lawsuit.
As a reminder, the financial watchdog had alleged that the company had sold more than $1.3 billion in unregistered XRP tokens between 2013 and December 2020 – when the lawsuit was brought up.
Earlier, Ripple had stated that it expected the case to end by November 2022, but later both parties agreed that their closing briefs would be held a few days before Christmas.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
According to XRP's predictive model, XRP price is expected to move beween $0.42 and $0.50 in August 2024. This will allow XRP to rise to $0.61 later in 2024 and eventually $1.44 in 2025. Throughout 2024, XRP is expected to move between $0.29 and $0.61 with an average forecasted price of $0.41.
XRP's price has increased in recent weeks on speculation of an incoming settlement announcement, possibly following a closed-door SEC meeting next week. The XRP ledger has also seen its highest activity levels and new address creation since March, according to analytics firm Santiment.
The Ripple price prediction that they have published looks strong, but will be slow to get going. They believe that by 2030, Ripple could reach $3.54, suggesting that price could sixfold in the next 7 years or so.
If the crypto market cap hits $3 trillion and XRP retains its current 1.10% dominance, its price could ascend to $0.589 by 2025. In a more bullish scenario of the crypto market surging to $10 Trillion, the price of XRP could soar to a staggering $1.96, resulting in a potential 4x return for investors by 2030.
Can it reach 35k? Yes it can but it will take some time. My reasons for it is that Gold has a market capital of roughly $11T and Silver has a market capital of $1.3T right now. If XRP has the same market capital as Silver, it will be $26.
Jaydee mentioned in an X (formerly Twitter) post that $20 is a “possible top” for XRP using the market cap as a marker. For this to happen, he also noted that there must be a structure break on the charts.
Changelly's recent average prediction is $12.43 by the end of 2030. Some experts believe that XRP will fall to zero by 2030. It's smart to never risk more than you are willing to lose in any investment, and especially in volatile assets like cryptocurrency.
Moving Average. On the four-hour time frame, XRP is currently trending bullish with the 50 day moving average currently sloping up. XRP's 200 day moving average is sloping up and has been doing so since 7/19/2024 which means the trend is strong.
While it's theoretically possible for XRP to reach this price, it would require substantial market shifts or a major supply reduction. If the project were to reform significantly to drive value to the XRP token, there is every chance that XRP could soar to new highs.
All things considered, Ripple's path to $1 by 2025 is based on solid developments and strategic growth. Investors should keep a close eye on this undervalued cryptocurrency. Don't be afraid to add a few Ripple tokens to your crypto portfolio at today's bargain-bin price.
Regardless of the bearish certainties, many analysts continue to remain bullish on XRP and believe it to be a good time to stack XRP. The recent SEC update has boosted optimism around the token.
Like many other crypto investors, whales may well just value the anonymity of crypto. However, some may not wish to reveal their holdings for more iniquitous reasons. Elon Musk, for example, has been accused of hyping coins like DOGE in order to pump the price before selling holdings.
How Many XRP Coins Are There In Circulation? XRP currently has 45,404 billion tokens in circulation, while its total supply counts 100 billion XRP tokens. Though, Ripple Labs initially owned 55 billion XRP tokens, with the ability to sell 1 billion per month.
The exact threshold for what constitutes a whale is not precise, but it's generally agreed that ownership of a large amount of a cryptocurrency's circulating supply qualifies one as a whale. For instance, an entity that holds at least 1,000 BTC is often considered a Bitcoin whale.
Introduction: My name is Horacio Brakus JD, I am a lively, splendid, jolly, vivacious, vast, cheerful, agreeable person who loves writing and wants to share my knowledge and understanding with you.
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