As the end-of-year holidays approach, the crypto market lights up, and several digital currencies stand out as promising gifts. Among them, XRP shines brightly, attracting both institutional investors and individuals. With a stunning comeback in November, Ripple's token appears poised to set new all-time highs. Analysis of recent data reveals a record accumulation of XRP tokens by crypto whales, suggesting an even brighter future for this altcoin.
XRP: all-time highs in sight
In November 2024, XRP recorded a spectacular ROI of 297%surpassing its previous high of 2021. This performance, the best since 2017, brought its price to $1.95, its highest level in seven years.
Analysts, such as Jacob Canfield, believe that XRP price could double its previous high of $3.40 to reach $6.60 by 2025. Based on Fibonacci extensions and BTC's relative performance in 2017, Canfield describes this level as ” the ideal FOMO goal “.
Tony Edward, founder of the Thinking Crypto podcast, displays a similar, but more cautious outlook, placing the target price between 5 and 8 dollars. To reinforce this optimistic scenario, on-chain data reveals a growing enthusiasm of investors.
XRP wallets have reached 5.5 million active usersan unprecedented figure in eight years. A rise in power which demonstrates renewed interest in Ripple.
Whales propel Ripple’s crypto to new horizons
Institutional investors, nicknamedhe “whales” continue to weigh heavily on the dynamics of XRP. Over the past three weeks, wallets holding between 1 and 10 million XRP have accumulated 679.1 million tokensrepresenting $1.6 billion.
This massive accumulation reflects unwavering confidence in Ripple’s future potential.
Some notable figures:
- 5.5 million active XRP wallets in 2024, an all-time high;
- $3.99 billion in open interest on XRP futures, highest ever;
- A 100% increase in trading volume on the futures market since the end of November.
Neel, crypto educator, also points out that the growing interest among individuals in XRP shows that new investors are venturing into the market, attracted by the media excitement around Ripple:
Such a dynamic is rare
In conclusion, XRP continues to surprise, now rising to the rank of 3rd crypto by capitalization. This meteoric rise could well worry Ethereum, which must monitor this rival closely. One thing is certain: Ripple has not finished making headlines.
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