The post How High Can XRP Go? XRP Price Prediction Amid Whale Accumulation appeared first on Coinpedia Fintech News
The last month was simply special for XRP; a steep growth from $0.51311 to $1.95710 in just 30 days was definitely unusual, as well as exciting. This development brings to a vital question: what will be the future of XRP – the most controversial crypto? And, the story begins here!
XRP’s Stunning November Performance
The talk of the town is XRP’s exceptional performance in November. The XRP market truly deserves this newly gained attention and even this late appreciation, for the fact that it outperformed almost all the other top cryptocurrencies last month. How is it even possible for a crypto, which was considered ‘partly filled’ until recently? The 297% rise in November of XRP – the highest monthly return since December 2017 – definitely says a lot about its future potential.
At the start of the month, with a price of $0.51311, there were no signs for an impending massive uptrend, other than the general expectation among investors that the US election could overturn the market scenario. On November 5, when the political scenario started to tilt towards Pro-Crypto Leader Donald Trump, the market showed its first sign of growth. Between November 5 and 30, what we saw was a steep climb from just around $0.5 to a few micro points less than the milestone of $2 – which the market achieved on the first day of December itself.
Bold XRP Predictions from Top Analysts
There is no confusion that the XRP market is unlikely to face any disruption in its upward momentum anytime soon; even during the previous month’s bull cycle, it only faced two corrections, both minor in nature. But how far can the market go up? There are analysts who predict the next target of XRP to be $10.
The problem with these exaggerated predictions is that most of them have no digestible reason to support them. Meanwhile, Jacob Canfield’s $6.60 target looks convincing for the simple reason that it has the one element that most of the other predictions lack: a solid reason to support it. Canfield’s prediction is backed by Fibonacci extensions and Bitcoin’s 2017 comparison.
Increased Activity in the XRP market from Retail and Whales
Who will fuel this predicted growth, retailers or whales? Neither whales nor retailers seem to be ditching the XRP market anytime soon. There are enough indications in the XRP market data that new retail investors are entering the market. Additionally, a recent report says that whale accounts accumulated 679.1M tokens worth $1.6B in three weeks. So, the trend is clear.
XRP’s Bullish Momentum and Key Resistance Levels
In the last 24 hours, the XRP market has seen a rise of 15.1%. The coming days are not going to be easy for XRP, considering that there is little resistance left on the higher timeframe of the XRP chart. However, the one thing that most XRP enthusiasts agree on is the potential of the XRP to close above the $1.99 mark – to mark its highest yearly close in history.
