- XRP has experienced a significant surge, rising 30% over the past week and reaching a high of $1.62, sparking speculation that it could hit $2 or even surpass its all-time high of $3.84 in December.
- However, despite increased whale activity and bullish sentiment, price predictions suggest XRP may face a decline, with an expected average price of $0.85 by the end of the month.
Ripple’s cryptocurrency XRP has captured the attention of many investors recently, as it experienced a significant price surge. Over the past few weeks, XRP has been on an impressive upward trajectory, gaining 30% in just one week and trading at a high of $1.62 from a low of $0.49. This performance has sparked hopes that the cryptocurrency could continue to climb, with many speculating that it could hit $2 in the coming weeks, or even reach its all-time high of $3.84.
XRP’s Current Momentum
At the time of writing, XRP is trading at $1.46, up nearly 4% in the past 24 hours, and a remarkable 178% over the last month. Despite these gains, the asset is still trading significantly below its all-time high, which is 61% below its peak of $3.84. If XRP continues its current streak, there is potential for it to surpass that all-time high, but it faces some significant hurdles along the way.
Whale Activity and Investor Sentiment
One of the key factors contributing to XRP’s recent rally is the increased activity from large investors, also known as “whales.” According to data from Santiment, these whales have been on a buying spree, increasing their holdings by more than 700 million XRP during the past month. This surge in whale activity is a strong indicator that some of the largest players in the cryptocurrency market believe in XRP’s potential to extend its recent gains.
Challenges Ahead: Can XRP Reach $2 in December?
Despite the bullish sentiment surrounding XRP, the road ahead may not be entirely smooth. According to a recent price prediction from CoinCodex, XRP is expected to finish December trading between $0.81 and $0.94, with an average price of around $0.85. This suggests a potential decline of approximately 41% from its current level, which is a significant setback for those hoping to see XRP hit the $2 mark or beyond this month.
Conclusion: The Future of XRP
While XRP has been on an impressive rise, and whale activity suggests continued interest in the cryptocurrency, it appears that the asset may face some obstacles in the short term. As of now, the asset is expected to experience a dip in price before possibly rebounding in the longer term. For investors, this means that while XRP could eventually reach new highs, patience may be required before the asset reaches its previous peaks. The coming weeks will be critical for the altcoin, and its performance in December will likely set the tone for the months ahead.