TLDR
XRP has surged 124% in the last 30 days, reaching $2.54 and becoming the third-largest cryptocurrency by market cap
Major institutional buying activity reported with whales purchasing 30 million XRP in 24 hours
Price projections from analysts range from $11 to $35 by 2025, representing potential gains of over 1,200%
Trump’s election victory coincided with XRP breaking past $1 after 3-year resistance at $0.50
Trading volume and accumulation trends show strong upward momentum with market cap now at $145 billion
December 2024 has marked a transformative period for XRP as the digital asset surged past $2.54, securing its position as the third-largest cryptocurrency by market capitalization. The token’s remarkable ascent has been fueled by increased institutional buying activity and a series of technical breakthroughs that have captured the attention of both retail and professional investors.
Recent market data reveals that XRP has experienced a 124% price increase over the past 30 days, with trading volume surging by 53.72%. This momentum has pushed its market capitalization to $145 billion, overtaking Tether (USDT) in the rankings of largest cryptocurrencies.
Whale activity has emerged as a key driver of the recent price movement. Data tracked by market analysts shows large holders accumulating substantial positions, with a notable purchase of 30 million XRP tokens within a single 24-hour period. This level of institutional interest suggests growing confidence in XRP’s long-term prospects.
#XRP HOLDERS WILL BE THE RICHEST PEOPLE YOU KNOW – HERE’S WHY! pic.twitter.com/k0tc6tCAq0
— STEPH IS CRYPTO (@Steph_iscrypto) December 17, 2024
The asset’s price movement shows a clear break from historical patterns. After maintaining a stubborn resistance level at $0.50 for over three years, XRP broke through this barrier in November, coinciding with Donald Trump’s victory in the U.S. Presidential elections. The price then accelerated past the $1 mark, maintaining its upward trajectory throughout December.
Technical analysts have observed strong buying pressure in the volume indicators, with consistent increases during upward price trends. The Relative Strength Index (RSI) displays a sharp upward curve, suggesting maintained momentum in the current rally.
Market observers point to several factors contributing to XRP’s price appreciation. The resolution of Ripple’s legal challenges with the U.S. Securities and Exchange Commission (SEC) has provided clarity for institutional investors who previously remained on the sidelines due to regulatory uncertainty.
XRP Price on CoinGecko
Trading data indicates increased adoption across Asian markets, where Ripple has expanded its partnership network. These developments have contributed to higher transaction volumes and broader market participation.
The current price level of $2.54 represents a substantial increase from earlier valuations, but some analysts project further upside potential. Conservative estimates suggest a target range of $11, while more optimistic projections extend to $35 by 2025.
Based on current prices, these projections would represent returns ranging from 432% to 1,277%. A theoretical $1,000 investment at current levels could grow to $14,000 if the higher end of these projections materializes.
Ripple’s expansion of cross-border payment partnerships has attracted attention from traditional financial institutions. Banks and payment providers have shown increased interest in the underlying technology, potentially driving further adoption.
Looking at daily trading patterns, XRP has established new support levels above $2.50, with resistance forming near the $3 mark. Volume analysis shows consistent buying pressure during price increases, suggesting sustained market interest.
Recent data from CoinMarketCap confirms XRP’s position as the third-largest cryptocurrency, trailing only Bitcoin and Ethereum. The daily trading volume metrics indicate broad market participation across major exchanges.
The market structure shows maturation, with improved liquidity and reduced volatility compared to previous rally periods. Institutional-grade trading platforms report increased activity from professional trading desks and investment funds.
Current chart analysis reveals attempts to break through the $2.50 resistance area, with price action showing repeated tests of this level. The seven-day performance shows an 8% increase as the asset consolidates recent gains.
While market sentiment remains bullish, trading professionals emphasize the importance of risk management. The cryptocurrency market’s inherent volatility suggests traders should monitor position sizes and maintain appropriate stop-loss levels.
The post XRP (XRP) Price: Surpasses $2.54 as Whale Accumulation Reaches Record Levels in December appeared first on Blockonomi.
