- XRP recently dropped 15%, reaching a low of $1.97, but has since recovered to $2.24, showing resilience with a 0.57% gain in the last 24 hours.
- Whale activity has surged, with 40 million XRP tokens accumulated in 24 hours, signaling growing investor confidence.
- Analysts project XRP could surge to $3 by year-end, supported by bullish technical indicators and market recovery.
Ripple’s native token, XRP, recently encountered significant turbulence, resulting in a sharp decline in its value. The cryptocurrency hit a low of $1.97, marking a substantial 15% drop over the past week. However, the token showcased resilience, gradually regaining ground and surpassing key resistance levels. It holds firmly above a crucial support level, signaling positive momentum despite prevailing market uncertainties.
At the time of writing, the token is trading at $2.24, with a 24-hour trading volume of $10.94 billion. Its market capitalization stands at $128.17 billion, commanding a market dominance of 3.85%. Over the last 24 hours, the token has recorded a modest gain of 0.57%, reflecting steady recovery efforts.
Whale activity has also played a significant role in XRP’s recent movements. Reports indicate that whales accumulated an additional 40 million XRP tokens in the past 24 hours, underlining growing investor confidence in the asset’s long-term potential.
XRP Could Surge to $3 by Year-End
Crypto analyst Javon Marks shared his bullish outlook on XRP’s price trajectory. According to Marks, the token’s 4-hour chart is showing a Hidden Bullish Divergence confirmation, suggesting a potential 30% recovery back to its 2024 highs at $2.91. Beyond this level, continued momentum could drive the token to new all-time highs.
Moreover, another analyst, Brett, highlighted that despite the token’s recent plummet below $2.19 after a sharp decline from recent highs, the cryptocurrency still has the potential to hit $3 before the end of this year.
Market observers remain optimistic about XRP’s outlook, with projections hinting at a potential surge to $3 before the year’s end. This anticipated growth is backed by improving technical indicators, increased whale activity, and a broader market recovery.
While the token has weathered a period of volatility, its current price structure and positive momentum suggest a promising trajectory in the weeks ahead. Investors are closely watching key resistance levels as the token aims for higher milestones.
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