As a seasoned investor with over two decades of experience in the financial markets, I find myself increasingly drawn to the promising potential of Ripple (XRP) in today’s rapidly evolving digital economy. Having closely observed the crypto landscape since its inception, I have developed a keen sense for spotting trends and identifying opportunities that are poised for success.
Instead of fluctuating and potentially stabilizing at a reduced level in the long run for Ripple tokens, or experiencing an unprecedented surge within the subsequent 60 days, could it be more likely that their price trajectory will lean either towards a gradual decline to a support zone or a significant upward trend?
Here are 6 of the most current signals regarding XRP’s price. But real quick first:
For those who prefer long-term investments in digital currencies like XRP, or altcoins that strategically adjust over cycles and occasionally engage in swing trading: Is XRP a good choice for temporary investment?
Is it too Late to Buy XRP in 2024-2025?
For those considering investments in cryptocurrencies, it’s a crucial query to examine the leading coins based on market capitalization as they search for potential chances to fulfill their financial ambitions within their specified investment periods.
Compared to Bitcoin, it seems that RippleNet hasn’t yet fully penetrated its potential market size (Total Addressable Market) at this stage in its growth. To illustrate, Bitcoin has made its way onto Wall Street through various ETF offerings, while XRP remains absent from such platforms.
On the other hand, Brad Garlinghouse, CEO of Ripple, expresses that a XRP ETF is seen as an unavoidable step by his company. Notably, Ripple Labs has pursued Initial Public Offering (IPO) possibilities for quite some time, yet they have opted to do so outside the U.S., primarily due to the expensive legal struggle with the SEC.
Beyond this, the market adoption rate of XRP can also be compared to the SWIFT cooperative based in Belgium, which offers a direct point of reference.
Whereas Swift handles approximately $5 trillion in international payments each day, it seems that RippleNet is merely embarking on its journey.
As a researcher delving into the realm of digital finance, I’ve uncovered an intriguing fact: The XRP tokens on the XRP Ledger are facilitating roughly USD $1.5 billion worth of transactions daily, based on data sourced from XRP Scan.
1. XRP Stablecoin Gets Nod From NY Regulator
Last week the New York state financial regulator, the Department of Financial Services, approved a new Ripple stablecoin—RLUSD.
On December 17, RippleNet’s XRP token issuer introduced a new product, causing a surge in XRP token prices on cryptocurrency exchanges. The price increase was approximately 11% due to the regulator’s approval, pushing the token’s value from $2.38 to over $2.47 in just minutes after the company announced the launch date.
Following the product launch, XRP’s value continued to climb, reaching a high point beyond $2.7 over the course of several weeks.
2. Ripple Token Technicals
Technical signals for Ripple were strong in mid-December.
Between December 3 and December 10, the value of XRP dropped from a peak over $2.70 and stabilized above the $1.90 mark. On Tuesday, December 17, however, its price surged back above $2.70, suggesting that the XRP tokens for RippleNet may have found their long-term support level again, potentially paving the way for another rise in December.
The price-performance is commendable, demonstrating remarkable resilience following what Jeff Park, strategic head at cryptocurrency firm Bitwise, referred to as “one of the most intense sell-offs witnessed in the altcoin market” in an interview with Fortune.
According to Park’s perspective, this temporary decline in the market resembles a brief pause for rest: “It appears quite intense. However, the growth beforehand was exceptionally rapid, and this could be a sign of exhaustion following such astronomical gains.
On Tuesday, the moving averages for Ripple, spanning over 10 days, 20 days, 30 days, 50 days, 100 days, and 200 days as per TradingView’s data, suggested a Strong Buy recommendation, characterized by their simple and exponential nature.
A significant risk for XRP supporters may arise from massive transactions resembling those of ‘whales’ being sent to exchanges, increasing the potential supply that can be easily traded. This increase in liquidity might suggest that major investors are planning to sell their holdings.
In November, an increase in whale transfers to Binance‘s XRP account more than doubled compared to the end of October. This level of whale inflows hasn’t been seen since March 2024 before a three-month decline in the asset occurred.
3. Strong Business Model, America’s ‘Secret’ Weapon?
This fundamental evaluation of Ripple’s long-term future prospects as a payments business cannot be understated. Ripple maintains a SaaS product that is so good with a business and team around it that are so capable that RippleNet could be the US’s secret weapon to maintain global financial hegemony in the face of a fading dollar.
As a discerning analyst, I recently found myself aligning with X Anderson’s perspective in a recent publication. He characterized XRP as a potent strategic tool for the United States.
Main reasons why Ripple along with XRP is a strategic weapon for the US:
Ripple has built a next-generation B2B cross-border payments system controlled by a US company.
RLUSD aims to broaden the adoption of USD globally, particularly among financial organizations.
— Anders (@X__Anderson) December 2, 2024
In his writing, Anderson stated that Ripple has constructed a cutting-edge business-to-business cross-border payment system, overseen by an American corporation. Moreover, it’s worth noting that around 45% of all existing XRP is owned by this US-based company, making them the largest XRP owner.
4. XRP Ledger Daily TXs Trending Up
In light of further examination, the daily transaction volume associated with decentralized finance on the XRP Ledger could fuel optimism among traders and investors regarding potential growth through January.
Daily transfers between the two accounts significantly grew, rising from approximately 0.73 million dollars per day on September 17th, to around 1.4 million dollars per day by December 16th. This increase represents a near-doubling over a period of three months.
Consequently, during the same timeframe, transactions involving XRP tokens on the XRP Ledger saw a significant rise, going from 762 million to 1.99 billion.
As an analyst, I’ve observed that the number of daily active accounts on the XRP Ledger has been mirroring the upward trend in the market value of the Ripple token. On December 2 alone, we saw more than 105,000 unique senders operating on the ledger.
Previously, this metric had barely surpassed 50,000 on three occasions that were nearly comparable to this month’s record high. Additionally, the daily new account activations indicate a positive trend.
5. Trump Effect, Ripple SEC Lawsuit Dust Settles
As a crypto investor, I’m relieved to see the change in administration, with the departure of the Biden administration’s aggressive stance towards cryptocurrency through the SEC. Now, with Donald Trump taking over as New York City’s next leader and cable television’s president, there seems to be a shift in approach. The appointment of David Sacks, an apprentice of Peter Thiel and a tech mogul, as the new White House’s crypto and AI advisor is a clear indication that the incoming administration will be more open and supportive towards cryptocurrencies like XRP.
In a tweet from November, Ripple’s Chief Legal Officer, Stuart Alderoty, expressed that the defense Ripple has presented in the U.S. court against the SEC serves as a guide to overpower Gary Gensler’s seemingly unexplainable crusade against cryptocurrency.
In a recent 60 Minutes discussion, Ripple’s CEO, Brad Garlinghouse, explained that their firm had established a fresh political action committee, dubbed “Fairshake,” with a focus on cryptocurrencies, due to what he described as the Securities and Exchange Commission’s (SEC) ongoing hostilities towards crypto.
Its impact on policymakers will stem from its significant legal triumphs, global business collaborations with foreign governments and financial entities, and an immense pool of financial assets, indicating an abundance of funds – even amidst a lengthy and costly battle with the SEC and a challenging cyclical bear market within the crypto sector.
6. Dollar and Bitcoin Macro Cycles
Currently, the U.S. dollar is experiencing an inflationary period with low interest rates. Conversely, Bitcoin is going through its typical bullish price increase phase that happens every 12 to 18 months after a 50% reduction in supply every four years. This most recent reduction, known as “halving,” took place on April 20, 2024.
Due to its involvement in a wide, long-term financial uplift affecting multiple months (a pattern seen in past cycles), the value of XRP has been significantly impacted and could potentially experience a substantial rise in its daily market exchange rate, similar to other altcoins such as XRP.
#XRP is not dumping, it’s a whole market thing. Triggered by #BTC dump.
Based on its solid foundations, I have a feeling that XRP could reach $5 by February 2025. Ignore the commotion; this is just noise.
Not Financial Advice. I am not qualified to give any advice.
— Vincent Van Code (@vincent_vancode) December 5, 2024
A tech entrepreneur who is the head of an AI company, as well as an investor in Ripple, has predicted that the price of XRP could reach $5 by February, under his alias Vincent Van Code on social platform X.
As the price of Ripple started to pull back in early December, Van Code expressed that the fundamentals for XRP are robust. If you’re an investor, his intuition suggests that it could reach $5 by February 2025; all this talk is merely noise.
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2024-12-18 10:32