According to the blockchain tracker Whale Alert, Ripple (XRP) whales have made a significant transfer of 60 million XRP, worth $132,202,106, between two unidentified wallets. This massive transaction has caught the attention of market analysts, leading to speculations about Ripple reaching a new all-time high. The transfer of 60 million XRP, initially reported by blockchain surveillance platforms, has raised possibilities regarding the strategies of large holders. Typically, Ripple whales’ movements are associated with significant market events or price fluctuations. Recent speculations about launching a Ripple ETF have also increased, possibly linked to this transfer. EGRAG Crypto, a market analyst, has predicted that based on the break level and price alignment with the 21-day moving average, Ripple’s price may reach $27. Additionally, according to CryptoQuant data, Ripple was the most traded altcoin on Binance futures in December 2024, with a trading volume of $116.6 million. Analysts believe this increase in activity indicates growing interest in Ripple ahead of a potential Christmas rally. Some analysts have compared Ripple’s current price movements to the 2017 upward trend. A trader named Crypto Vilian has described Ripple’s movement pattern as involving improvement and then a historical surge. He has forecasted that Ripple’s market value in this cycle could surpass $1 trillion, meaning a price higher than $17 per token. However, this prediction is dependent on the overall market trend, especially Bitcoin’s performance. While long-term predictions for Ripple seem bullish, the daily chart shows a descending triangle pattern highlighting short-term bearish pressure. Currently, a key support near $2.19 is in place, and if broken, the price may decline to $1.69. Nevertheless, analysts still predict a potential price reversal. If Ripple retraces from its support level and breaks $2.50 resistance, bearish predictions will be invalidated, paving the way to test the $2.90 level. On the other hand, Messari data indicates that addresses holding over one million XRP are decreasing their holdings. This suggests profit-taking by large holders during the price stabilization period, adding more pressure to the market and raising concerns about the short-term absence of a price rally unless the Ripple case with the U.S. Securities and Exchange Commission (SEC) concludes or Gary Gensler steps down from his position in January. On the page for real-time digital asset prices, you can monitor the prices of all tokens and cryptocurrencies live and instantaneously.
