TL:DR;
- Ripple’s cross-border token has stolen the show once again as its price shot up to $3.2 for the first time in over seven years.
- At the same time, analysts have turned highly bullish, with predictions of up to $10 per token during the ongoing cycle.
Keep in mind that the value of this asset was just $2.1 at the beginning of the year, only two weeks ago. However, it’s been on an incredible surge since then, one that not even last Monday’s downturn could halt.
Over the last few days, there’s been nothing ordinary about the third-largest cryptocurrency; it skyrocketed from $2.3 on Monday to $3.2 this morning, which is approximately a 40% increase over just 72 hours. This significant rise has pushed its price to a seven-year high.
Regardless of dropping to around $3.1 currently, XRP has surged by 9% today and over 30% compared to a week ago. This significant surge occurred shortly after the release of the US CPI data yesterday, which propelled many cryptocurrencies upward. Remarkably, XRP’s growth stands out in this context.
Events surrounding XRP kicked off last week following news that some large investors (XRP whales) had invested over $2 billion to acquire around a billion tokens in just two days. Since then, things have been looking up, with increased activity on the XRP network for significant transactions and other encouraging advancements.
Despite the SEC’s last-minute appeal in its legal dispute with Ripple, XRP’s growth remained unshaken. Simultaneously, renowned analyst Ali Martinez projected a substantial potential price for the asset, reaching as high as $10.
Following his explanation about the accumulation of whales, he noted that the token has burst free from a bullish pennant formation, often signaling an extended upward trend. If the current buying momentum persists, he predicts that the value of XRP could surge over three times its current price.
$XRP is going to $10!
— Ali (@ali_charts) January 15, 2025
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2025-01-16 17:28