TL;DR
- XRP’s Price Predictions: XRP hit an 11-week high over $0.60 with varying predictions from analysts, ranging from short-term jumps to ambitious future values requiring substantial market cap growth.
- Whale Activity Surges: Large XRP investors have significantly increased their activity, reaching an all-time high in number and significant transaction values.
- October Transaction Peak: By October’s end, large XRP transactions surpassed $1 million, a three-month high.
XRP to Shoot Higher?
Ripple’s native token – XRP – recently tapped an 11-week high of over $0.60, dragging much of the attention in the cryptocurrency space toward itself. Several analysts have predicted that the coin’s uptrend has no intention to stop here, envisioning further spikes.
One such person is the X (Twitter) user CrediBULL, who outlined $0.90 as XRP’s next target. The forecast might become a reality in the summer of 2024 should the asset stay above the $0.40-$0.50 resistance level, the suggested.
Other analysts like Dark Defender have been more modest in their predictions, assuming that XRP is poised for a rally towards $0.66 in the following days. On the other hand, the X user CryptoBull thinks the token could hit a whopping $220 in the next bull run if it follows “the very same pattern” from previous cycles.
Such a scenario seems to remain a mirage since XRP’s market capitalization should explode above $100 trillion for this to happen.
Those curious to find out the asset’s potential performance in the remaining two months of the ongoing year could take a look at our video below:
XRP Sharks and Whales on the Move
The coin’s impressive price performance as of late coincided with increased activity coming from large investors. As CryptoPotato reported, the total number of sharks and whales (those holding at least 10,000 XRP) has jumped to an all-time high of more than 277,000.
In addition, XRP transactions involving such participants surpassed $1 million in value at the end of October, representing a three-month high.
SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.