After the news of Gary Gensler stepping down in January, XRP is witnessing explosive activity, with Ripple whales adding over 250 million tokens to their holdings in just a short period. Amid this buying spree, XRP’s price has surged, and the futures market is breaking records—topping $2.50 billion in open interest. The market is booming with news of the IPO launch and XRP ETF’s arrival in Q1 of 2025, if regulations take a back seat for XRP. Investors are waiting for a mega rally.
Let’s break down the latest developments and what they mean for XRP’s future.
Ripple’s whales have been snapping up XRP at an unprecedented pace. Blockchain analytics firm Santiment reports over 250 million tokens were purchased during a market dip, fueling a staggering 200% rally this month.
Major transfers further underscore this bullish momentum. Whale Alert flagged the movement of 149 million XRP (worth $227 million) from Bybit to a private wallet, alongside another whale acquiring 20 million XRP from South Korea’s Upbit exchange.
On-chain data reveals more significant activity, including 58 million XRP—valued at $87 million—transferred from Binance to a whale wallet. Analysts like Ali Martinez highlight these strategic accumulations as a clear sign that whales anticipate further price surges.
The XRP futures market is buzzing with activity, with open interest (OI) now exceeding $2.5 billion. This milestone underscores growing confidence in XRP’s potential. Major trading platforms like Binance and Bybit have seen significant spikes in futures activity, reflecting increased trader interest.
According to Coinglass data, XRP’s futures OI stands at 1.59 billion tokens. This aligns with XRP’s recent 4% price jump, trading around $1.51 with a 24-hour high and low of $1.54 and $1.31, respectively. A 24% rise in trading volume highlights the intensifying market activity.
Following this surge, analysts are eyeing $2 as a short-term target, with some speculating XRP could climb to $20 in the long run. The coin’s meteoric 200% rally over the past three weeks supports these predictions, as XRP reached $1.51 on November 25. Notably, it is on track to close the month with its largest candlestick since April 2021.
Technical indicators add fuel to the bullish outlook. XRP’s RSI remains above 70%, signaling strong upward momentum. The XRP/BTC pair has also made a significant comeback, doubling its value as Bitcoin’s dominance begins to wane. This shift suggests XRP might outpace BTC in the months ahead.
As of now, XRP is trading at $1.43, and as per records and bullish technical factors, is $20 in sight? We will come to know.
XRP might reach a high of $2.49 or an average of $1.73.
Today, XRP is experiencing a surge in price and trading volume, with whales accumulating tokens and futures open interest hitting $2.5 billion.
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