XRP Price Prediction: Rally To $27 Possible?

Ripple’s XRP could achieve $6 by the end of December 2024 and $27 in January 2025 as stated in the EGRAG’s Bifrost Bridge analysis. This prediction is based on Fibonacci retracement levels and historical price behavior similar to that which we witnessed in the year 2017 for XRP.

XRP has risen by 26% in December so far and was on the rise by 283% in November. According to EGRAG’s analysis, the next important area is the “gold region” between $4.3 and $6.4.

The analysis also suggests that XRP could surge by 1,330% in January 2025 to trade between $13.7 and $27.3.

Whale Accumulations Boost Confidence in XRP Rally

Moreover, large XRP investors, or whales, have recently purchased 100 million XRP tokens. This is another positive sign for future price increases.

This accumulation was done at a slight price pull back and as at the time of writing the price of XRP was $2.48

Whale activity is considered as a sign of market sentiment especially when it coincides with the technical analysis.

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These acquisitions imply that there is a rising demand for XRP thus strengthening the bullish price prediction.

Additionally, the launch of the RLUSD stablecoin by Ripple Labs, green-lit by the New York Department of Financial Services (NYDFS), could greatly benefit XRP’s liquidity.

This development therefore prepares the XRP environment for expansion and utilization in cross border transactions.

The RLUSD stablecoin will help in simplifying the transactions, a crucial aspect of XRP’s overall usage.

According to analysts, this increased liquidity may cause price actions towards the predicted milestones.

Market Dynamics Align with Predictions

Ripple’s (XRP) performance in the last market cycle in 2017 seems to support this view.

According to EGRAG, in 2017, XRP rose by 1,330% within months. The same performance is expected to be repeated in the present situation.

The overall market cap of cryptocurrencies has risen from $60 billion in 2017 to $3.7 trillion today. This is favorable from a macroeconomic perspective.

Using past growth multiples on XRP’s present market capitalization indicates further room for gains.

It is estimated that in order to reach $6 and $27, XRP would have to capture 9% to 18% of the total market capitalization depending on the market conditions.

Similarly, crypto analyst Dark Defender believes that XRP price may rise to $5 once it breaks through $2.52 due to the conclusion of an ABC corrective wave pattern.

He expects this to be the catalyst for a move to $5.85 and then $18.22 by mid-2025. Another analyst at CasiTrades predicts that XRP will rise to $3.46 in the next move upwards.

In addition, Charles Hoskinson explained that XRP can be useful in boosting the Cardano ecosystem in one way or another.

Interviews with Ripple’s management showed that XRP can be included into the Midnight sidechain as the third token alongside NIGHT and DUST to enhance the transaction possibilities

Hoskinson also explained that XRP could be more efficient than ADA for the Marlowe platform for decentralised smart contracts.

This opens the door for the future partnership between Cardano and Ripple.