The resignation of Gary Gensler as the Chair of the US Securities and Exchange Commission (SEC), effective January 20th -the same day President-elect Donald Trump is set to be inaugurated – is set to be a monumental day for the XRP community. In his latest video, crypto analyst Rodney (@cryptojourneyrs) shared an analysis of the price potential in the post-Gensler era. At the time of his analysis, XRP was trading at $1.43, reflecting a remarkable 172% increase over the past month. The market capitalization had soared to $81 billion, accompanied by $22 billion in daily trading volume. “XRP is starting to return to its normal spot in crypto, being one of the dominant altcoins,” Rodney remarked. Why XRP Is Poised To Surge Higher In his video, Rodney suggests that Trump’s promise to fire Gensler on his first day in office may have influenced Gensler’s decision to resign preemptively. “Gary Gensler is going to be stepping down from his role as the chair of the SEC January 20th, the same day Trump is going to be inaugurated,” Rodney stated. “Trump promised to fire Gary Gensler on day one, so I think Gary Gensler wanted to go out on his shield and resign on his own.” Related Reading: XRP Analyst Sets $2 Target If It Holds Key Level – Can It Reach Multi-Year Highs? Reflecting on the SEC’s lawsuit against Ripple, Rodney noted the significant impact it had on the price and market perception. “When the SEC sued Ripple, [XRP] price dipped 50%. This was one of many lawsuits that the SEC and Gary Gensler filed against many different crypto projects. It seemed like they were trying to regulate the space out of existence,” Rodney stated. He pointed out that despite the legal challenges, XRP remained a top cryptocurrency. “Even through all the BS, XRP has still been a top crypto and it really hasn’t fallen out of the top 10 in many years,” he said. Rodney also discussed Ripple’s partial victory against the SEC in July 2023, which set a significant precedent in the crypto industry. However, he expressed surprise that the price did not react more positively at the time. “When we heard about that news of them partially beating the SEC, XRP started to pump to around $0.67 but then promptly dipped down to about $0.50 and didn’t really do anything,” he observed. “It wasn’t moving with the cryptocurrency market at all… It was a running joke that it was kind of our favorite stablecoin.” Turning to the political landscape, Rodney explained: “Donald Trump actually ended up destroying Kamala Harris and is going to be the next president of the United States,” he stated. He emphasized Trump’s pro-crypto stance, noting that he was “much more open about supporting crypto” and was “the first president to purchase anything with cryptocurrency.” Rodney highlighted the involvement of various crypto projects in political campaigns, mentioning that “many cryptocurrency products were funding both candidates’ campaigns behind the scenes.” Related Reading: XRP To Hit $40 In 3 Months But On This Condition – Analyst With the political shift, Rodney expressed optimism about the future integration of cryptocurrency into government systems. “Now more than ever, it seems like cryptocurrency is going to be involved with our government, and in my opinion, XRP is going to be up there with the top projects,” he asserted. He elaborated on XRP’s core objectives, stating, “What is XRP trying to do? They want to be used for international money transfers […] They want to enable fast and low-cost international money transfers and currency exchanges.” He suggested that with supportive figures in government, XRP could realize this potential. How High Can XRP Price Go? Rodney also delved into his price predictions for XRP, considering various market capitalization scenarios. If XRP were to achieve Ethereum’s market cap of approximately $400 billion, it would result in a 4.9x increase from its current price, bringing XRP to around $6.98. “Say, for example, XRP becomes a part of our government and we actually use it for its real utility. Everyone uses it, and it magically got the same market cap size of Ethereum,” he speculated. Imagining XRP reaching Bitcoin’s market cap of about $2 trillion, he calculated a 24x increase, which would place XRP at approximately $33. “Let’s fantasize a little crazier […] Say we gave it Bitcoin’s market cap size that’s currently sitting around $2 trillion,” he mused. He considered a $10 XRP, corresponding to a $600 billion market cap, as a reasonable possibility. “I think that a $10 XRP or an XRP with a $600 billion market cap size is reasonable,” he concluded. However, Rodney acknowledged the challenges inherent in these predictions, noting that “it would be tough for any cryptocurrency project to hit those market cap sizes because Bitcoin’s dominating the entire market right now.” At press time, XRP traded at $1.40. Featured image created with DALL.E, chart from TradingView.com
Ripple Labs has introduced the first tokenized money market fund on the XRP Ledger (XRPL). The initiative, in partnership with Archax and UK-based asset manager abrdn, signifies a notable advancement in the tokenization of real-world assets (RWA) and the expansion of institutional decentralized finance (DeFi) for the XRP ledger ecosystem. Ripple Enters The RWA Sector […]
Crypto analyst Behdark has predicted that the XRP price can reach $28. This prediction follows his Elliot Wave theory analysis, which also showed when the crypto will reach this double-digit price target. When XRP Price Will Reach Double Digits In a TradingView post, Behdark’s Elliot Wave theory analysis showed that the XRP price can reach […]
On Thursday, the XRP price soared to $1.41, marking its highest trading value in over three years. This surge coincides with a shifting regulatory landscape in the United States, spurred by the anticipated administration of President-elect Donald Trump. During his campaign, Trump pledged to position America as the “crypto capital of the world,” a promise that is beginning to resonate with market participants even before his inauguration on January 20, 2025. Gensler Sets Last Day At SEC For January 20 In recent weeks, the cryptocurrency market has seen a notable uptrend, with Bitcoin leading the charge and achieving consecutive all-time highs. This momentum is in part a response to the positive sentiment surrounding Trump’s pro-crypto promises, which is expected to facilitate a more favorable environment for digital assets. Related Reading: FTX Provides Details On $16 Billion Distribution Timeline For Customers And Creditors Central to this optimism is the expected departure of Gary Gensler, the current chair of the US Securities and Exchange Commission (SEC). Gensler has been criticized for fostering an unclear regulatory environment that many argue has stifled the growth of cryptocurrencies in the US. For XRP and Ripple Labs, this scrutiny has been particularly pronounced over the past four years under the Biden administration. Trump previously vowed to remove Gensler from his position, a move that many in the crypto community view as a necessary step toward clearer regulations. Yet, on the same day as Trump’s anticipated inauguration, Gensler confirmed that January 20, 2025, will be his last day at the SEC. His resignation preempts what many experts speculated could be a contentious conflict if he remained in office while Trump sought to replace him. XRP Price Surges Nearly 30% In 24 Hours This shift in the regulatory landscape in the US has contributed to a clearer outlook for digital assets, as reflected in XRP price movements. In the past 24 hours alone, XRP recorded gains of nearly 30%, and over the past week, it has increased more than 70%. Crypto analyst Ali Martinez recently shared his views on X (formerly Twitter), stating that Gensler’s exit could be highly beneficial for both Ripple Labs and the XRP price, which he believes is now targeting $2. Related Reading: Ethereum Sees Neutral Netflow On Binance: What Does This Signal? Another analyst, CrediBull, echoed this sentiment, noting that XRP’s monthly Relative Strength Index (RSI) is approaching overbought territory for the first time in three years. The analyst emphasized that a higher RSI typically indicates stronger momentum and bullish prospects for the asset, absent any bearish divergences. CrediBull suggested that the next significant target for XRP is $2, with aspirations for new all-time highs thereafter. Currently, the token’s all-time high stands at $3,040, which was reached nearly seven years ago in January 2018. This means that the XRP price could be in for a massive 150% uptrend in the coming months. Featured image from DALL-E, chart from TradingView.com
On-chain data shows the XRP Binance Netflow has spiked to positive levels recently. Here’s what this could mean for the asset’s price. XRP Investors Have Been Depositing To Binance Recently As explained by an analyst in a CryptoQuant Quicktake post, a large amount of XRP deposit transactions have headed to Binance recently. The on-chain metric of relevance here is the “Exchange Netflow,” which keeps track of the net transfers going in or out of a given centralized exchange. The traditional form of this metric measures the difference between the inflow and outflow volume for the platform, but in the context of the current topic, a different version of the indicator is of interest: one that counts the net number of deposit/withdrawal transactions. When the value of the metric is positive, it means there are more inflow transfers happening for the exchange than outflow ones. As one of the main reasons why investors deposit to these platforms is for selling-related purposes, this kind of trend can be bearish for XRP. Related Reading: Cardano Outperforms Market With 50% Surge: Here’s Why On the other hand, the indicator being negative implies withdrawals are dominant on the exchange. Such a trend can be a sign that holders are interested in HODLing into the long term, which can naturally have bullish effects on the price. Now, here is a chart that shows the trend in the 30-day moving average (MA) of the XRP Exchange Netflow for Binance over the last couple of years: As is visible in the above graph, the XRP Exchange Netflow for Binance has mostly stayed inside the positive territory during the last two years, which suggests investors have constantly been making withdrawal transactions. Recently, however, the metric appears to have diverged from the norm, as its value has registered a sharp positive spike. The asset has seen a sharp rally of over 54% in the past week, so it’s possible that the traders making the deposits are looking to sell and realize their profits. Now, the main question is, is this selling a potential threat to XRP’s value? The indicator is sitting at 470 right now, which suggests significantly more inflows than outflows. Considering that this is also just the 30-day MA, the peak value is bound to be even higher. Related Reading: Bitcoin Is About To See A Historically-Profitable Crossover In This Metric While this high number of inflow transactions may look like a danger at first glance, it may actually not be so, since it corresponds to activity that’s mostly from the retail investors. Whales don’t tend to leave behind too many transactions, as they prefer to move large amounts with a single transaction. Thus, whenever this version of the Exchange Netflow spikes, it’s a sign that the small holders are depositing. Naturally, there could still be a few whale transfers among these inflows, which can indeed end up having a negative effect on the XRP price. It only remains to be seen, though, which of the scenarios holds true. XRP Price XRP has pulled ahead of the rest of the market with a sharp rally during the past week, which has taken its price to $1.09. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
Charles Hoskinson, the founder of Cardano, and David Schwartz, the Chief Technology Officer of Ripple, have unveiled details about a potential collaboration between their respective blockchain platforms. The partnership aims to integrate Cardano’s advanced decentralized finance (DeFi) capabilities with Ripple’s extensive liquidity network, potentially bridging two of the industry’s most prominent ecosystems. Potential Cardano And […]
A crypto analyst has noted that XRP has finally broken out of its long consolidation phase, signaling the onset of a major price rally. He further predicts that the XRP price is on the verge of ending an 11-year SuperCycle, which could pave the way for a surge to $3.4 once finalized. SuperCycle To Trigger $3.4 Surge Skyrexio, a TradingView crypto analyst, has released an XRP price analysis, forecasting a possible increase to $3.4. In the chart analysis, Skyrexio disclosed that XRP has recently broken out of its four-year consolidation period, potentially signaling the start of a bullish uptrend. Related Reading: Ethereum Sees $1 Billion Exchange Outflow Alongside Bitcoin: What This Means For Price Unsurprisingly, the total duration of the consolidation period coincides with the number of years XRP has been involved in a legal battle with the United States Securities and Exchange Commission (SEC). Following the lawsuit, the XRP price crashed significantly, staying range-bound for years as it struggled with legal and regulatory challenges. Notably, Skyrexio’s bullish forecast for the XRP price relies on the Elliott Wave Theory, a technical indicator that predicts price movements of an asset by identifying recurrent long-term price patterns. The analyst noted that XRP’s first Elliott Wave began in 2013, almost 11 years ago. After that, the cryptocurrency experienced a price correction, followed by the legendary Wave 3. Over the last three years, the price of XRP had been trading sideways, failing to experience gains that would push its price significantly above the $0.5 mark. Skyrexio has revealed that this prolonged sideways movement can be interpreted as a corrective triangle pattern in Wave 4. The analyst revealed that XRP has successfully broken out of this triangle pattern, signaling the end of its correction phase. He suggests that the cryptocurrency is now in Wave 5, the last wave of its first global SuperCycle. Based on XRP’s Elliott Wave analysis, Skyrexio has outlined two bullish targets for the XRP price. The analyst forecasts that XRP could rise between $2.5 and $3.8 at the end of this SuperCycle. He emphasized that the higher price target at $3.8 is more likely to be achieved, as historical data shows that in 90% of cases, Wave 5 experiences a higher high than Wave 3. Concluding his analysis, Skyrexio pointed out key bullish indicators on his price chart, including a bullish reversal bar and green dot at the end of Subway C. He suggested that these bullish signs, appearing on the monthly time frame, are strong indicators of a potential upward move that could drive the XRP price to its final bullish target. Related Reading: Bitcoin Golden Multiplier Ratio: Analyst Says The Party Is Just Getting Started Update On XRP Price Dynamics The XRP price has achieved a monumental milestone for the first time in years. In just one week, the cryptocurrency rallied by 101.77%, experiencing significant price gains following Donald Trump’s win in the US presidential elections this month. Earlier this year, the price of XRP was stuck in the $0.5 range, experiencing slight gains but unable to break past this critical resistance level. Now, the cryptocurrency has doubled its price and is trading above $1, a historic feat that has caught the attention of the broader crypto community. As of writing, XRP has gained another 10.1% and is priced at $1.16, according to CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Dr. Artur Kirjakulov, CEO and founder of XPMarket, has publicly accused Bitstamp of executing a “rug pull” against the XRP community. This serious allegation has ignited a contentious debate among industry stakeholders, raising questions about the stability and reliability of Bitstamp’s involvement in XRPL-based financial instruments. Has Bitstamp Rug Pulled The XRP Community? On Sunday, November 17, Dr. Kirjakulov took to X to voice his concerns regarding Bitstamp’s recent actions. “Bitstamp literally has just rug pulled XRPL community,” he claimed and asserted that Bitstamp had “withdrew more than 90% of liquidity from USD/XRP and BTC/XRP AMM Pools,” a move he characterized as a “silent” and unannounced maneuver that has left the XRPL community in a precarious position. According to Kirjakulov, the absence of any formal statement from Bitstamp or RippleX exacerbates the uncertainty surrounding this liquidity withdrawal, potentially leading to “extremely volatile” trading conditions and significant price impacts for these asset pairs. Dr. Kirjakulov further highlighted the intricate relationship between Ripple and Bitstamp, noting that “Ripple owns an equity share in Bitstamp.” This connection suggests that Ripple’s stake in Bitstamp may influence the exchange’s strategic decisions within the XRPL space. The CEO of XPMarket expressed deep concerns about the assurance of a 1:1 conversion rate for Bitstamp-issued wrapped assets, drawing a parallel to the Stably incident where such guarantees were not honored. He emphasized, “How can anyone trust DeFi on XRPL, when official partners make such moves? Optics are terrible.” Related Reading: XRP Primed For $100 Price Target – Here’s Why The allegations did not go unnoticed within the XRPL community. Daniel Keller, CTO at Eminence and an XRPL ambassador, responded with skepticism regarding the authenticity of Kirjakulov’s claims. Keller questioned the legitimacy of the accounts associated with the liquidity pools, stating, “Do we know that’s an official Bitstamp account? Looking back on the activation sequence it was activated via Binance, which is weird if Bitstamp runs it.” In response, Dr. Kirjakulov maintained that the accounts in question were indeed affiliated with Bitstamp. He clarified, “Going through the accounts it is visible that they are clearly associated with Bitstamp, because they are also market making these tokens. There is literally no one else interested here in market making these tokens, because they are niche and unpopular.” He further explained that the liquidity had been pulled back to a market-making (MM) account, reinforcing his assertion of Bitstamp’s direct involvement. Kirjakulov also dismissed the significance of activation accounts, noting, “Activation account does not mean anything. I activate my account from multiple exchanges specifically to make less traceable.” Related Reading: XRP Climbs Above $1, Fibonacci Levels Reveal More Gains Ahead Keller pressed for more concrete evidence to support the claims. He asked: “Can you share some of these connecting transactions because if you already looked them up it would be cool to share. An activation account is very important if you are an exchange supporting an LP, because you want people to know it’s your company. Dr. Kirjakulov responded by emphasizing the strength of the circumstantial evidence pointing towards Bitstamp, stating, “Circumstantial evidence? Yes. But this evidence points rather clearly into Bitstamp, as no one else has such a huge amount of these assets issued by them, other than someone affiliated by them. And circumstantial evidence is no excuse to ignore them.” The discourse extended to the topic of Bitstamp’s IOU services. Michael Nardolillo, a user on X, defended Bitstamp by highlighting its regulated status and the redeemability of its IOUs. He argued, “There’s no guarantee Bitstamp will honor their IOUs?! That’s like saying there’s no guarantee you can withdraw your crypto from an exchange. Bitstamp is highly regulated, IOUs are always redeemable they are no different than holding an asset on an exchange.” This defense was met with skepticism from Kirjakulov, who drew attention to past failures in the industry. He countered, “Somewhere FTX creditors did a few facepalms. Again, Stably did not honor 1:1 conversion. And there is nothing on Bitstamp or even GateHub sources to claim there will be 1:1 conversion and absolutely nothing of proof of funds.” In an attempt to substantiate his defense, Nardolillo shared a screenshot from Bitstamp’s website detailing their IOU service. The screenshot outlines that users can transfer value on the XRP Ledger through IOUs issued by Bitstamp in exchange for real assets like BTC, USD, EUR, or ETH. Dr. Kirjakulov highlighted a critical oversight in this arrangement. He stated, “And this is the problem. This is the only way how you can make this swap. Also, it says absolutely nothing about 1:1 conversion. What if it depegs by 50%? Will they make 1 bUSD (which is worth 50 cents) swap to 1 USDT (which is worth 1 USD)?” As of press time, the XRP community awaits an official response from Bitstamp. XRP traded at $1.15. Featured image created with DALL.E, chart from TradingView.com
The XRP price is experiencing a significant uptick, rising 20% over the past two days and an impressive 47% in the last five days. The surge can be attributed to a confluence of factors, including speculation surrounding SEC Chairman Gary Gensler’s potential resignation, favorable regulatory tailwinds under the incoming Trump administration, increased whale activity, and a notable technical breakout. #1 Speculation About SEC Chairman Gary Gensler’s Resignation A primary driver behind XRP’s recent price movement is the growing speculation regarding the possible resignation of Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC). On November 14, Gensler delivered a speech at the Practicing Law Institute’s 56th annual conference on securities regulation, where he lauded the efforts of the SEC. “It’s been a great honor to serve with them, doing the people’s work, and ensuring that our capital markets remain the best in the world,” Gensler stated. The crypto community on Xinterprets this speech as a potential farewell address, especially in light of the upcoming transition following Donald Trump’s victory in the US presidential election. Investors anticipate that the Trump administration will appoint a pro-crypto chairman to lead the SEC. “I will fire Gary Gensler on day one,” Trump pledged during the Bitcoin 2024 conference. Brad Garlinghouse, CEO of Ripple Labs, echoed these sentiments on X: “Joined Cantor’s annual Crypto Conference today – safe to say that the US is ready to be the crypto capital of the world with the next Trump Administration. Also an apt shirt to wear..on perhaps what are Gary Gensler’s last days in office?!” After Gensler’s resignation, there’s speculation that the SEC might reconsider its appeal against Ripple Labs, potentially alleviating regulatory pressures that have weighed heavily on the XRP price over the last years. #2 Regulatory Tailwinds For XRP Under Trump The anticipated policy shift under the incoming Trump administration is another critical factor contributing to the XRP price appreciation. The administration is reportedly preparing to adopt a more permissive stance toward crypto, with plans to appoint industry-friendly candidates to key regulatory positions. “Chatted with Tony Romm about how the incoming Trump Administration is already engaging proactively with the crypto industry on clear rules of the road… what a breath of fresh air!” Garlinghouse remarked today on X. Further emphasizing the potential positive impact, Garlinghouse stated via X: “I’ve shared some thoughts on what the Trump administration could mean for crypto and wanted to also recognize the XRP family’s patience and unwavering support. A lot has happened since XRP was the 2nd most valuable digital asset. It’s been – at times – a frustrating journey. ~6 years since the SEC started meddling in the crypto market, picking winners and losers… ~4 years since the SEC sued Ripple. He added, “Now FINALLY we see a light at the end of the tunnel as these external (frankly unnatural and manipulative) market factors fade. The tides are shifting, headwinds are turning to tailwinds, and the opportunity for those of us who believe in the future for XRP is enormous!” #3 Increased XRP Whale Activity Whale activity, indicative of large-scale investments by major holders, has also played a significant role in the XRP price surge. On-chain analysis firm Santiment reports on X: “Wallets with at least 1M XRP now hold a combined 45.61B tokens, their highest amount held since June 2018. In the past 2 years, whales & sharks have reversed course and accumulated 3.44B more XRP, a +8.16% increase. Traders have enjoyed a +40% return in the past 7 days.” #4 Technical Breakout Complementing the fundamental drivers are technical factors contributing to the XRP price action. XRP has broken above a six-year-long symmetrical triangle pattern, a significant technical indicator that suggests the potential for sustained upward momentum. Historically, such breakouts have preceded notable price increases, and in XRP’s case, the price had previously declined by as much as 97% during the formation of this pattern. At press time, XRP traded at $0.85. Featured image created with DALL.E, chart from TradingView.com
The XRP price has just had its biggest 24-hour surge in years to reach its highest level in over two years. Particularly, XRP surged by about 22% in a few hours to reach $0.8386. This intriguing surge has brought into focus XRP’s potential to challenge the narrative of it being dead. Ironically, this XRP surge […]
Societe Generale-FORGE (SG-FORGE), the digital asset subsidiary of French banking giant Societe Generale, has announced plans to deploy its MiCA-compliant stablecoin, EUR CoinVertible (EURCV), on the XRP Ledger in 2025. The decision makes the XRPL the third blockchain platform for EURCV, following its initial launches on Ethereum and Solana. XRP Ledger Gains French Stablecoin Partner […]
XRP is making waves in the crypto market, trading at $0.82 after setting new yearly highs following an impressive 65% surge in just a few days. This rally has captured the attention of investors and analysts, with top analyst Carl Runefelt sharing insights into XRP’s bullish breakout. According to Runefelt, XRP has finally broken above a multi-year resistance level, signaling the potential for a massive rally to higher prices in the coming weeks. Related Reading: Bitcoin Weekly RSI Entering Power Zone – Last Time BTC Soared 80% Adding to the optimism, recent positive developments in the broader crypto space have further boosted market sentiment. Reports suggest that SEC Chair Gary Gensler may step down, a move that potentially reduces regulatory pressure on the crypto industry. Elected President Donald Trump’s pro-crypto stance and policies also spark renewed interest and confidence among crypto enthusiasts. These factors have created an environment where XRP appears poised for significant gains. As investors watch closely, the focus remains whether XRP can sustain this momentum and continue pushing higher. With key resistance levels cleared and favorable news driving sentiment, XRP is positioning itself as one of the most promising assets in the crypto space right now. XRP Staring A Bullish Phase XRP has entered a promising new bullish phase after years of lackluster performance and prolonged legal battles with the SEC in the U.S. This resurgence sparks optimism among investors and analysts alike, with top crypto analyst Carl Runefelt sharing a compelling technical analysis on X. Runefelt highlighted XRP’s breakout from a multi-year resistance level, which signals a significant shift in its price trajectory. In his analysis, Runefelt cautiously predicted that XRP could reach $2 during this bull cycle, a modest target compared to analysts who foresee price levels soaring past $20. The breakout marks a turning point for XRP, which has faced years of sideways price action and persistent selling pressure. Legal setbacks, regulatory uncertainty, and market skepticism had kept the asset underperforming relative to its peers. However, with favorable developments in the broader crypto market and the ongoing adoption of blockchain solutions, XRP is regaining its footing. Related Reading: Solana ‘God Candle Is Close’ As It Breaks From Crucial Resistance – Top Analyst Many believe the coming months could be transformative for XRP, with the potential to finally rise above its previous all-time high of $3.84 set in January 2018. As bullish momentum builds and investor confidence strengthens, XRP is positioned to be one of the standout performers in this market cycle. Bullish Price Action: Key Supply Levels To Watch XRP trades at $0.82 following a massive breakout that clears multiple resistance levels, signaling renewed bullish momentum. This surge has reignited optimism among investors as XRP demonstrates strength after prolonged underperformance. The next critical supply level for XRP to test lies at $0.92, a price point it hasn’t revisited since 2021. A successful breakout above $0.92, followed by consolidation and support building at this level, could open the door for significant upward movement. If XRP maintains its bullish momentum and establishes $0.92 as a support zone, demand could skyrocket, propelling the price toward the $1.4 level. This would mark a significant milestone, aligning with broader market optimism and strengthening investor confidence in XRP’s long-term potential. Related Reading: Chainlink Whales Waking Up – Data Shows Signs Of Accumulation However, the possibility of a failed breakout above $0.92 cannot be ignored. If the price struggles to hold this level, XRP could enter a consolidation phase, remaining range-bound until new catalysts emerge. Such a scenario would likely delay the next major move but might offer opportunities for accumulation. As the price continues its climb, traders and investors are closely monitoring these key levels, recognizing that the outcome could define the next chapter of XRP’s price action in this bullish cycle. Featured image from Dall-E, chart from TradingView
In a new analysis, crypto analyst Dark Defender (@DefendDark) highlights a significant pattern in the daily XRP/USDT chart that suggests a possible sharp rise in the price of XRP. According to his analysis, the XRP price is possibly forming a technical pattern known as a “bull flag” after decisively breaking above the multi-year resistance at $0.6649, a move that has been further substantiated by two consecutive daily closes above this key level. XRP Price To Reach $1.03 This Week? A “bull flag” pattern occurs when the price of an asset moves sharply higher, then consolidates in a narrow, downward-sloping range, resembling a flag on a pole. This pattern is typically considered a continuation pattern, suggesting that after the consolidation phase, the price is likely to break out upward in the direction of the initial sharp movement. In the context of XRP, the flagpole was formed by the steep price increase from $0.52 leading up to the break above $0.6649. Furthermore, Dark Defender points out the Relative Strength Index (RSI), which is currently in the overbought territory at 84. An overbought RSI often indicates that the asset might temporarily pause or consolidate due to short-term selling pressure as traders take profits. Related Reading: XRP NVT Ratio Has Been High Recently: What It Means This aligns with the expectation of the consolidation phase of the bull flag pattern. However, an overbought RSI in the context of a bull flag pattern can also indicate strong underlying momentum, suggesting that once consolidation is complete, a breakout to the upside could follow. Dark Defender highlights the next substantial price target at $1.03, which could be achieved swiftly if XRP manages to ascend beyond the immediate resistance near $0.7496. Specifically, touches or minor closings above $0.7496, with potential surges to $0.76 or higher, are deemed critical for this bullish scenario to unfold. Should these conditions be met, Dark Defender expects that the price of XRP could rally to $1.03 within this week. Related Reading: XRP Surges To $0.74, Reaching Its Highest Price Since Mid-March: Here’s Why Notably, the analysis also rests on the understanding of Fibonacci levels, which are used extensively in crypto trading to predict potential support and resistance levels based on prior market movements. The level at $0.6649, now surpassed, could likely serve as a 70.20% retracement from the previous market high to low. If this level is breached to the downside, the bull flag pattern could extend more to the downside. Then, the 61.80% and 50% Fibonacci levels at $0.6044 and $0.5286 could serve as a support zone from which the XRP price could escalate above $1. The analyst states: “XRP closed 2 days in a row above $0.6649. Now we can say this Fibonacci Level is dead, too. There are no more substantial levels than this until $1.03. If we see touches above $0.7496, such as $0.76 or more, we can quickly expect the $1.03 this week.This is not financial advice but my expectation. Remember, XRP broke the multi-year (7) resistance of $0.6649 in NOVEMBER 2024.” At press time, XRP traded at $0.7086. Featured image created with DALL.E, chart from TradingView.com
In an exchange on X (formerly Twitter), Ripple’s Chief Technology Officer David Schwartz, also known as “JoelKatz”, addressed criticisms about his company and the XRP Ledger. Has Ripple Failed With Its Payments Business? User @188ape challenged Schwartz by questioning the uniqueness of the XRPL in today’s market, stating that it seems like “most new layer […]
On-chain data shows the XRP Network Value to Transactions (NVT) Ratio has seen some spikes recently. Here’s what it means for the asset. XRP NVT Ratio Reached A High Of 1,162 Earlier In The Month In a CryptoQuant Quicktake post, analyst Maartunn has discussed about how the latest trend in the NVT Ratio of XRP has been like. The “NVT Ratio” here refers to an indicator that keeps track of the ratio between the market cap of the asset and its transaction volume (both in USD). Related Reading: Dogecoin Explodes 150% As Shark & Whale Buying Returns When the value of this metric is high, it means the value of the network (represented by its market cap) is high compared to its ability to transact coins (measured by its volume). Such a trend could imply the asset may be overvalued. On the other hand, the indicator being low suggests the market cap isn’t inflated when compared to the transaction volume, so the asset’s price could be due a rebound to the upside. Now, here is a chart that shows the trend in the XRP NVT Ratio over the last few years: As displayed in the above graph, the XRP NVT Ratio has witnessed some spikes recently, with a particularly large one having come on the 2nd of this month. These recent highs in the indicator would imply the market cap of the coin isn’t being justified by its volume. Over the last week, the asset has registered a jump of more than 25% in its price, but if volume doesn’t catch up soon, it’s possible that the rally would run out of steam before long. Something else that could be a danger to the XRP run is an excess of Fear Of Missing Out (FOMO) developing among the investors. According to data from the analytics firm Santiment, a couple of FOMO indicators related to the the asset have seen a surge recently. The metrics in question are the Binance Funding Rate and the Social Dominance. The former of these keeps track of the ratio between the long and short positions present on the cryptocurrency exchange Binance, while the latter measures the percentage of social media discussions related to the top 100 cryptocurrencies that XRP alone is contributing. Below is the chart shared by the analytics firm that shows how these metrics have changed for the coin recently. From the graph, it’s apparent that traders on Binance have opened a massive amount of long positions alongside the price surge as the Funding Rate has turned highly positive. Related Reading: Ethereum Could Be Set To Explore New Highs As On-Chain Metrics Light Up The Social Dominance has also seen an uplift of its own, with XRP-related discussions making up for more than 4% of social media discussions around the cryptocurrency sector. Both of these can point to the presence of excessive hype in the market, which is something that has historically led to a top for the asset. XRP Price XRP had surged to a high of $0.74 yesterday, but it appears the coin has seen a pullback since then as its price is now floating around $0.67. Featured image from Dall-E, Santiment.net, CryptoQuant.com, chart from TradingView.com
Over the past nine days, XRP has experienced a significant rally, climbing from $0.4957 on November 4 to a peak of $0.7407 today on Binance—a surge of over 50% at one point. Approximately 30% of this ascent occurred within the last 48 hours. However, following this rapid rise, XRP saw a sharp correction, retreating by -12% to $0.65 as of press time. These are the key reasons for the rally: #1 XRP Funding Rates and Social Dominance Spike One of the primary drivers behind the XRP price surge appears to be heightened social media activity and shifts in funding rates. On-chain analytics firm Santiment noted via X that the XRP community “has erupted with excitement and discussions related to crypto’s #7 market cap,” with over 4% of all coin discussions currently related to XRP following its 45% breakout over an eight-day span. The firm emphasized that surpassing $0.74, XRP’s year-high back in March, will largely depend on “FOMO staying at bay, and funding rates on large exchanges like Binance not getting too weighed down by longs.” Related Reading: XRP Price Patterns And 2024 Election Spark Talk Of A New Rally Santiment’s analysis highlighted that the ratio of Binance XRP long versus short positions has reached its highest point since March 31, indicating strong bullish sentiment among traders. They also observed that previous spikes in social dominance, such as those at the beginning of August, served as perfect top signals, suggesting that the current surge in social discussions could precede a market correction. Conversely, Santiment also pointed out that the previous social spike marked a bottom signal. #2 Gensler Resignation This Week? Speculation about potential regulatory changes is also influencing XRP’s market dynamics under the Trump administration. Pro-crypto lawyer James “MetaLawMan” Murphy shared an intriguing timeline via X, drawing parallels between US presidential elections and the resignations of SEC chairs. Related Reading: Could XRP Explode After US Elections? Data Hints At Massive 60,000% Rally He noted that after the 2016 and 2020 elections, SEC chairs Mary Jo White and Jay Clayton announced their resignations shortly after the results. Murphy suggested that with the 2024 election, there could be expectations for current SEC Chair Gary Gensler to resign, posting, “Hey Gary Gensler, we’re waiting.” Time to say Goodbye Gary! Nov. 8, 2016: Trump elected Nov. 14, 2016: Mary Jo White (SEC Chair) announces her resignation Nov. 3, 2020: Biden elected Nov. 16, 2020: Jay Clayton announces resignation Nov. 5, 2024: Trump elected Nov. __, 2024: Hey @GaryGensler, we’re waiting — MetaLawMan (@MetaLawMan) November 12, 2024 This speculation is particularly significant for the XRP community because of the ongoing legal battle between Ripple and the SEC. President-elect Donald Trump has explicitly stated his intention to remove Gensler from his position on his first day in office, citing the need for a more crypto-friendly SEC chairman—a statement he made at the Bitcoin 2024 conference. Ripple CEO Brad Garlinghouse has shown strong support for this potential change, urging Trump to appoint replacements more favorable to the crypto industry, such as Chris Giancarlo, Brian Brooks, or Dan Gallagher. Garlinghouse highlighted the need for regulatory clarity, especially concerning digital assets like Ethereum and XRP. The speculation among some Ripple supporters is that Gensler’s removal could lead to a more favorable outcome for Ripple, potentially through the SEC dropping its appeal in the case. The market seems to be reacting to this speculation, with investors possibly trying to front-run the news in anticipation of a settlement or regulatory shift. At press time, XRP traded at $0.65. Featured image created with DALL.E, chart from TradingView.com
Ripple President Monica Long has revealed that the company’s upcoming US dollar stablecoin, Ripple USD (RLUSD), has already secured early customer commitments prior to its official launch. Speaking at the Singapore Fintech Festival, Long emphasized that stablecoins are set to become a “massive trend” in the payments industry. Ripple Is Waiting For Regulatory Approval In […]
Ripple Labs could be exploring the launch of a dirham-backed stablecoin in the United Arab Emirates (UAE), expanding beyond its existing US-dollar-backed stablecoin, RLUSD. This speculation arises following Ripple’s newest blog post dated November 7, 2024, titled “UAE Stablecoin Regulation: A Blueprint for Financial Innovation.” The post hints at significant interest by Ripple in a […]
In the wake of Donald Trump’s victory in the US presidential election, crypto industry giants like Ripple and Coinbase are anticipating significant regulatory shifts. Trump has expressed a pro-crypto stance and has indicated his intention to replace Securities and Exchange Commission (SEC) Chair Gary Gensler “on day one” of his administration. This move could lead […]
In the aftermath of Donald Trump’s election victory, Ripple’s top executives have outlined their expectations for the incoming administration, emphasizing the need for regulatory clarity in the crypto industry. On November 6, Ripple CEO Brad Garlinghouse congratulated Trump via X and presented a “first 100-day checklist” aimed at overhauling the current regulatory framework. Ripple Leadership […]
The XRP Ledger (XRPL) is on the brink of a major governance transformation with the official confirmation of a Decentralized Autonomous Organization (DAO). This shift is poised to decentralize decision-making processes and significantly enhance community participation, marking a pivotal evolution in the ecosystem’s governance framework. XRP Ledger DAO Confirmed Prominent community member Crypto Eri (@sentosumosaba) […]
The United States Court of Appeals for the Second Circuit has issued an order in the XRP lawsuit between the Securities and Exchange Commission (SEC) and Ripple Labs, Inc. The court has mandated that the SEC must file its appellate brief by January 15, 2025, setting a firm deadline. Ripple Case Update: New SEC Filing […]
On Friday, crypto asset manager 21Shares filed an S-1 registration form for a spot XRP ETF with the US Securities and Exchange Commission (SEC) to establish the 21Shares Core XRP Trust. This filing follows similar applications from other firms, including Canary Capital and Bitwise in the past months, as interest in crypto ETFs surges, particularly […]
The XLS-40 amendment on the XRP Ledger, which introduces a new standard for Decentralized Identifiers (DIDs), was activated on October 30. Approved by 28 out of 35 validators (85.71%), the amendment went live yesterday. Mayukha Vadari, a Senior Software Engineer at RippleX, announced the activation via X (formerly Twitter), stating: “The XRPL DID amendment goes […]
A crypto analyst has made a bold prediction about the XRP price, highlighting that an explosive rise above $3 is not a matter of if but when. While XRP’s slow price growth over the years has tested the patience of many investors, the analyst is confident that the cryptocurrency’s fundamentals and market dynamics are aligning for a significant upward movement. Timeline For XRP Price Surge Above $3 Popular crypto analyst Javon Marks has expressed optimism about the future outlook of the XRP price, predicting that the prominent cryptocurrency could be on the verge of a significant rally above the $3 mark. In an X (formerly Twitter) post on Tuesday, Marks revealed that the recent XRP price action indicated a “massive bullish breakout” to the upside. Related Reading: Bitcoin Price Breaks Out Of 7-Month Descending Broadening Wedge Pattern For Continuation Above $70,000 The analyst suggested that this upward momentum could happen very soon, implying that all the conditions and signs were pointing towards a substantial price shift for XRP in the future. Sharing a detailed chart of XRP’s historical price movements, Marks noted that the cryptocurrency had formed a distinct triangle pattern, starting in 2014 and peaking in 2017. After breaking out of the triangle pattern in 2017, XRP experienced a dramatic price surge, reaching new highs before recording a short dip and then rallying again to its current all-time high of $3.84 in 2018. Based on Mark’s price chart, XRP has formed another similar triangle pattern, which started around 2018 and is projected to peak in 2025. Marks pointed out that breaking out of this triangle pattern could trigger a massive increase in the XRP price, potentially pushing the cryptocurrency to new highs around $3.6 by 2025. Price Remains Stagnant While Other Cryptocurrencies Rally Despite the optimistic price projections for the XRP price, the cryptocurrency has been facing immense downward pressure for the past few months. While other cryptocurrencies like Bitcoin, Ethereum, and most meme coins have been experiencing significant price gains amidst the positive shift in market conditions, XRP price has struggled to build momentum. Related Reading: Dogecoin Price Is About To Complete This Breakout To A Descending Megaphone Pattern, Is $1 Next? Data from CoinMarketCap has revealed that XRP is currently trading at around $0.5, recording significant declines, much to the frustration of long-time XRP holders and investors. While Bitcoin has skyrocketed to $72,000, Ethereum to $2,670, and Shiba Inu to $0.0000188, XRP has declined by 0.37% in the last 24 hours and decreased by 18.61% over the past month. Currently, XRP is being cited as one of the worst-performing assets in the crypto space, as its price has failed to break beyond the $1 mark since February 2022. This bearish price trend and slow momentum could be attributed to XRP’s bearish market sentiment and the ongoing legal battles between Ripple Labs and the United States Securities and Exchange Commission (SEC). Featured image created with Dall.E, chart from Tradingview.com
Crypto analyst Random Crypto Pal has predicted that the XRP price is finally ready for a breakout, just as on-chain metrics turn bullish. With a breakout on the horizon, the analyst also provided insights into price targets that XRP could hit as it moves to the upside. XRP Price Ready For A Breakout Random Crypto Pal predicted in X post that the XRP price was ready for a breakout while sharing a picture of the XRP monthly chart. He remarked that an “explosion is coming,” indicating that the price rally will be parabolic. The analyst made this claim while noting that XRP has recorded a perfect retest of both trend lines. Related Reading: ‘Bird Beak Sign’ Appears On Bitcoin Price Heikin Ashi Chart, Analyst Explain What This Means The accompanying chart showed that the XRP price could rise to as high as its current ATH of $3.84 when it records this price breakout. XRP has consolidated for about seven years since 2018, when it reached its current ATH. Since then, the XRP community has eagerly anticipated a price breakout, which never came in the 2021 bull run. However, this time looks different, considering that XRP has finally gained legal clarity and a non-security status in the long-running legal battle between Ripple and the US Securities and Exchange Commission (SEC). Meanwhile, on-chain metrics have turned bullish and support an XRP price breakout. The active addresses on the XRP Ledger (XRPL) have hit a six-month high, indicating renewed interest in the coin among crypto investors. New investors are also flocking into the XRP ecosystem, as new addresses on the network have surged by over 10%. Daily transactions on the network are also on the rise, which shows that investors are actively trading using XRP. Therefore, these bullish on-chain metrics could also contribute to the XRP rally, which Random Crypto Pal predicts is on the horizon. Price Could Reach Triple Digits Crypto analyst Javon Marks has again reaffirmed that the XRP price could reach triple digits when this price breakout finally occurs. In an X post, the analyst alluded to the historical price gains that XRP recorded in the 2017 bull run to prove why the coin could reach $200. Related Reading: Cardano Price Prediction: Analyst Says 80-90% Correction Is Over With 100% Jump Imminent His accompanying chart showed that the XRP price could enjoy a price breakout by year-end and a massive rally that will last until year-end 2025, around when the crypto will hit $200. Interestingly, crypto analyst Dark Defender also echoed a similar sentiment when he revealed in an X post that the XRP bull run will last from November 2024 to November 2025. Meanwhile, Javon Marks noted the similarities between the current XRP price action and that of 2017 are “major.” He remarked that this time around is larger, which means that the result of the price breakout could be greater than the one witnessed in the 2017 bull run. Featured image created with Dall.E, chart from Tradingview.com
On Thursday, October 24, Ripple Labs filed the Civil Appeal Pre-Argument Statement, known as Form C, in its case with the US Securities and Exchange Commission (SEC). This document outlines the critical issues the company intends to present on appeal, each subject to a de novo standard of review, meaning the appellate court will re-examine […]
The entire crypto market is enjoying a strong surge, yet XRP has been lagging, remaining stuck below the crucial $0.55 level since the start of October. Analysts and investors are closely watching for signs of strength and confirmation that XRP is poised for significant gains in this market cycle. Key data from Santiment offers a glimmer of optimism. It shows a notable spike in active wallets on the XRP Ledger, which could signal growing interest and accumulation. Related Reading: Dogecoin Breaks Above $0.12 Level – Time For DOGE To Catch Up? As the broader market continues to push higher, the coming days are pivotal for XRP. Investors hope for a breakout from the weeks of sideways consolidation that have kept its price action subdued. A decisive move above $0.55 could ignite bullish momentum and put XRP on track to catch up with the broader market rally. For now, the market eagerly awaits further developments, with many anticipating that XRP’s moment may finally be approaching. XRP Ledger Activity Signals A Shift XRP remains one of the most popular altcoins in the crypto market, yet many investors are increasingly concerned as the price has struggled to reclaim local highs around $0.65. Despite the lack of upward momentum, critical data from Santiment offers a glimmer of hope. The XRP Ledger recently experienced a significant spike in activity, with 35,799 unique wallets making at least one transfer daily, marking the highest activity level in over three months. In addition, 3,858 new wallets were created in a single day, the largest increase over seven months. This surge in network activity is a promising sign for XRP, as spikes in active wallets and new addresses often precede major price movements. The growing interest in XRP could be an early indicator of an impending shift in price action, especially as the broader market trends upwards. However, the price must still exceed the local highs of around $0.65 to confirm a bullish trend. While the network data points to potential growth, the coming weeks will be crucial for XRP’s price movement. Related Reading: Bitcoin Whales ‘Grew Substantially’ During Last Dip, Data Shows Large-Holder Accumulation If it can reclaim key resistance levels, XRP may finally align with the overall market’s bullish sentiment, providing a more optimistic outlook for its investors. Price Action: Technical Levels To Watch XRP is trading at $0.555 after three weeks of sideways movement. It remains below the 4-hour 200 exponential moving average (EMA), but it is now testing this key indicator as resistance. A successful breakout above the 200 EMA, followed by consolidation and holding it as support, would likely signal a surge to higher supply zones around $0.60 and potentially $0.65. This breakout would confirm renewed bullish momentum, encouraging investors to wait for a clear upward trend. However, if XRP fails to break above the 200 EMA and these critical resistance levels, a retrace to $0.52 or even lower could be imminent. Failing to breach this resistance would point to further consolidation or even a correction as the market seeks lower liquidity levels. Related Reading: Solana Struggles To Break $160 Resistance As Top Analyst Predicts A Coming Surge As XRP continues to test this key technical level, the next few days will be pivotal in determining whether the altcoin can finally break out of its range-bound trading and follow the broader market’s bullish sentiment. Featured image from Dall-E, chart from TradingView
Elon Musk, CEO of Tesla and SpaceX, directly mentioned XRP for the first time during a Town Hall meeting in Pittsburgh, Pennsylvania. The dialogue unfolded when an attendee, seemingly a supporter, asked Musk: “Do you envision the XRP Ledger being incorporated into financial institutions in the future?” He responded thoughtfully: “I do think that cryptocurrency […]
The idea of the XRP price reaching $1,000 has once again gained traction as a social media platform X user called Drewski called for the Ripple community to unite in driving XRP to the unprecedented price level. While Drewski’s post reignited the conversation, the $1,000 price target is far from new, as it has been a goal shared by many XRP investors for years. Bold $1,000 Price Target For XRP Drewski’s comment on XRP echoes the entire cryptocurrency investor community. Particularly, it can be inferred that the investor is confident that the combined strength of the Ripple community can trigger a historic price surge for XRP. Related Reading: BTC Held On Exchanges Hits Lowest Point In 5 Five Years, Here’s What It Means For Bitcoin Price Interestingly, the bullish price target for XRP is primarily driven by sentiment rather than technical analysis. However, XRP is no stranger to very bullish price targets when viewed through the lens of technical analysis. For instance, renowned crypto analyst EGRAG CRYPTO has provided analysis indicating that XRP could be on a trajectory towards $27. In another technical analysis, the analyst highlighted the possibility of XRP surging further to $99. How Feasible Is The $1,000 Price Target? While the prediction is exciting, there are skeptics who question whether XRP can realistically reach $1,000. Critics highlight the enormous market capitalization required to reach this level. For XRP to hit the $1,000 mark, it would either need to achieve a market cap of $99.99 trillion based on its current total supply or burn most of its supply. Many critics are also quick to point out the regulatory uncertainties surrounding XRP and Ripple. If you ask many crypto participants, many will call XRP dead, considering the crypto has performed poorly than many expected in recent years. Currently, XRP is trading at a fraction of the $1,000 target. At the time of writing, XRP is trading at $0.5515. The cryptocurrency has been down by 0.7% in the past 24 hours but remains up by 2.5% in a seven-day timeframe. Related Reading: Bitcoin Price To $95,000? Here’s What Needs To Happen First To reach the price target, XRP would need to go on a 1,800x price surge from the current level, which would make many of its holders multi-millionaires. Therefore, the prospect of such a move has kept the dream of a $1,000 price target alive for many XRP enthusiasts. A more realistic dream would see XRP break above the $1 mark before reaching the double-digit threshold at $10. For XRP to go on a steady rally, it would need to continue growing in adoption in the traditional financial system. Furthermore, a final resolution to the ongoing Ripple-SEC lawsuit is needed, as achieving regulatory clarity could bring the dream of a $1,000 XRP closer to reality than ever before. Featured image created with Dall.E, chart from Tradingview.com