Key Takeaways
- The XRP price dropped by over 20% from its yearly high to its key support of $2 as whales took advantage of the price.
- Fundamental and technical factors favor Ripple’s price long-term as crypto analysts express a positive price outlook ahead of 2025.
- XRP bull must protect $2 support from bears as a close above its yearly high assures more upside potential.
On December 19th and 20th, 2024, the cryptocurrency market experienced a bloodbath as Bitcoin crashed by over 10% and altcoins crashed by over 20%, sending panic around the crypto space. The price of XRP was not shielded from this market crash despite bullish fundamentals and technical factors backing its price.
The price of Bitcoin saw bears push its price from a region of $107,000 to a region of $94,000 as the price of XRP also traded within its key support of $2 as XRP bulls held price above this support region to key its $5 target in 2025 alive.
Despite XRP retesting key support of $2 and retailers calling for sub $1, the price continues to hold strong. Technical factors show that the price remains strong for its price target of $5 in 2025.
XRP Whales Build More Position Around $2
Source – XRP Whale Activities By Ali On X
Ali on X highlighted that XRP’s current price drop to $2 is a big opportunity for many, as Ripple (XRP) whales have increased their holdings of XRP to $288M. In his post, he stated, “While $XRP dropped from $2.90 to $2.22, whales bought the dip. They purchased over 120 million #XRP, totaling $288 million!”
Ripple (XRP), according to on-chain trends, is the most talked about crypto asset since its rally from $0.6 to a high of $2.9 with over 500% in a few weeks. Long-term holders and analysts speculate this is just a tip of what we could see from XRP in 2025.
Source – XRP Price Speculation By Levi On X
Further analysis by Levi on X shows Ripple (XRP) could replicate its price action of 2017, with price targets expected to hit $6 and $54, respectively. While the price of XRP hitting a target of $54 is quite ambitious, we cannot rule out its potential.
What Ripple (XRP) Chart Says
Source – XRP Price Chart From TradingView
The current state of XRP on a higher timeframe looks bullish. XRP bulls have held their ground strong around $2, defending its price from going lower, which could give bears the opportunity to drive the price lower.
A yearly close above $2 will be instrumental in achieving a $5 price rally in 2025. With Ripple’s price action, 2025 could be a promising year for XRP.
