Ripple whales have made significant moves, increasing their XRP Coin holdings as anticipation around a new stablecoin launch builds. A massive 830 million XRP purchase sent the price soaring over 10% in a short period. Could XRP soon surpass the critical $3 mark? Here’s what analysts are saying.
Whales Accumulate XRP as Stablecoin Launch Nears
The recent surge in Bitcoin to an all-time high has triggered a broader market rally, buoyed further by U.S. presidential candidate Donald Trump’s optimistic remarks, which boosted investor confidence.
On the Ripple front, sentiment is equally positive. Optimism around Ripple’s ongoing SEC case and rumors of SEC Chair Gary Gensler’s potential departure have strengthened investor sentiment. Analyst Ali Martinez reported that whales purchased 830 million XRP in the last 24 hours, underscoring strong institutional and investor demand.
Despite some profit-taking, including a notable transfer of 69.3 million XRP (worth $175.87 million) to Binance, investor interest remains high due to Ripple’s upcoming RLUSD stablecoin launch.
RLUSD Stablecoin Launch Boosts Market Excitement
On December 16, Ripple announced that RLUSD, its new USD-backed stablecoin, would launch on December 17. RLUSD will maintain a 1:1 peg with U.S. dollars, cash equivalents, and government bonds, with independent audits conducted monthly to ensure transparency and trust.
Advertisement Banner
Initially, RLUSD will be available on platforms like Uphold, MoonPay, and CoinMENA, with trading expected to start the following day. Listings on major exchanges such as Bitstamp and Bitso are set to follow. However, due to the European Union’s MiCAR regulations, RLUSD will not be available to European users at launch.
XRP Price Action and Future Predictions
In recent weeks, XRP has maintained a bullish trend, briefly reaching $2.80 earlier this month before settling at its current price of $2.51. With a market cap of $143.85 billion, XRP holds its position as the third-largest cryptocurrency behind Bitcoin and Ethereum. Trading volume has surged by 87%, hitting $12.49 billion.
According to leading analysts, XRP’s momentum is far from over. Notable crypto analyst CrediBULL Crypto predicts that XRP could surpass $5 by 2025, driven by strong fundamentals and increasing demand. Analyst DonAlt identifies the $2.60 resistance as a key level, suggesting a breakout could push prices to $3 and beyond. Meanwhile, JPMorgan has forecasted a bullish target of $5 for XRP.
Conclusion
The launch of RLUSD and the increasing whale activity signal a promising future for XRP Coin. With strong investor interest and bullish predictions, XRP appears poised for further gains. Stay updated with The Bit Journal for the latest insights into Ripple and the broader cryptocurrency market.
Follow us on Twitter and LinkedIn and join our Telegram channel to get instant updates on breaking news!
Disclaimer
The price predictions and financial analysis presented on this website are for informational purposes only and do not constitute financial, investment, or trading advice. While we strive to provide accurate and up-to-date information, the volatile nature of cryptocurrency markets means that prices can fluctuate significantly and unpredictably.
You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. The Bit Journal does not guarantee the accuracy, completeness, or reliability of any information provided in the price predictions, and we will not be held liable for any losses incurred as a result of relying on this information.
Investing in cryptocurrencies carries risks, including the risk of significant losses. Always invest responsibly and within your means.
