Ripple’s cryptocurrency token XRP has recently surged to $1.66, marking a price level not seen in over 42 months. This rally has helped the XRP token to surpass Binance Coin (BNB) in market capitalization, positioning it as fifth-largest cryptocurrency by market cap. The sudden surge is all because of the whale activity that was recently observed and the growing optimism.
XRP’s current market cap stands at around $95 billion, surpassing BNB’s market cap of approximately $94 billion, marking a significant shift in the market rankings.
Whale Activity Fuels Price Rally
XRP recently has been seeing a significant whale activity. Almost an hour ago from the press time, a notable transfer of 104,392,571 XRP worth $167,229,621 was made from an unknown wallet to a new unknown wallet.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 104,392,571 #XRP (167,229,621 USD) transferred from unknown wallet to unknown new wallethttps://t.co/jxusdRpArG
— Whale Alert (@whale_alert) November 29, 2024
Whale Alert has reported several large XRP transactions which include both large accumulations and sell-offs to exchanges such as Bitstamp and Binance, indicating mixed market sentiments. The large transactions indicates the increasing confidence within Ripple‘s XRP token, while sell-off indicate the hesitancy amongst the investors.
Year-End Prediction for Ripple’s XRP
Market analysts remain optimistic about XRP’s future. Short-term predictions suggest that if the XRP continues the same trajectory, by the end of the year the token could reach $2.00 per token. Long-term predictions suggest that the XRP token can reach up to $4.00-$5.00 in early 2025, if this momentum continues and if there are any more developments in the Ripple vs. SEC case.
At press time, the XRP token price stands at $1.66 with a surge of approximately 14.1% in the last 24-hours.
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Source: https://www.cryptonewsz.com/ripple-42-month-high-flips-bnb-market-cap/