In the last seven days, the price of XRP has risen by 5.68%. It’s worth wondering if the price of XRP will continue to rise or fall. Will the price of XRP rise? How high can the XRP price go? Let us examine this in this XRP price prediction post.
XRP Price Prediction: Why is XRP Price UP?
The price of XRP responds quickly to cryptocurrency news and speculation. The excitement around the Bitcoin ETF approval sent waves across the crypto sector, boosting the value of XRP. Even though the ETF news was a rumor, XRP’s price stayed elevated, reflecting continued optimism in the crypto industry. The purchasing power was visible as it raised XRP prices, with a 36.56% gain over the previous month and a current market worth of roughly $35,446,007,921.
Recent market data from Whale Alert, a blockchain monitoring service, reveals that around 24.70 million XRP was moved from an unidentified wallet, r4wf7enWPx…5XgwHh4Rzn, to Bitso, a digital currency exchange based in Mexico. Additionally, the same wallet transferred 23.40 million XRP to Bitstamp, a centralized exchange located in Luxembourg City.
These significant transactions, involving large amounts of XRP being sent to exchanges, suggest a potential increase in the token’s availability, which could lead to a bearish market outlook.
Contrarily, another notable transaction that caught the attention of cryptocurrency enthusiasts involved an anonymous wallet, rJqiMb94hy…W8AzELa8nE, sending a substantial 100 million XRP to another unidentified wallet, rP4X2hTa7A…7XZ63sKxv3, today.
This particular movement of a large XRP amount to an unknown wallet seems to contrast with the transfers to exchanges. The exchange of tokens between anonymous wallets might indicate a bullish market sentiment surrounding the token.
Remarkably, the Ripple Swell conference in Dubai concluded without the highly anticipated announcement of an Initial Public Offering (IPO) for Ripple.
The conclusion of the conference without an IPO launch left the crypto market community in a state of surprise, leading to widespread speculation about Ripple’s future strategies.
Is XRP a Good Buy Today?
XRP underperformed for a long time, with prices stabilizing for more than two months. Prices plummeted to a 2023 low of $0.4756. However, with the crypto market on the rise, now is considered a favorable moment to buy XRP, especially since it displays symptoms of a positive trend.
XRP Price Prediction: How High will XRP Go?
While it may be too late for XRP prices to hit an all-time high (ATH) in less than two months as we approach the end of the year, positioning yourself by purchasing near support levels may be a sensible move. The present momentum implies that a target of $1 might be reached shortly, but attaining the ATH may need a longer-term view.
How to Buy XRP?
Bitget is currently a good option to buy XRP. Known for its safety and ease of use, Bitget allows new users to get started with cryptocurrency purchases quickly. To buy XRP on Bitget, create an account, complete the necessary KYC procedures, deposit funds, and you’ll be ready to trade XRP.
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