Key Insights:
XRP gained 5% this week and was the only crypto to have a net gain for the period.
XRP looks at a further 140% rally as indicators show a positive crossover.
XRP is actively used in multiple next-generation businesses of Ripple, such as ODL, RWA projects, RLUSD, and land digitization.
Ripple's further partnerships increase the utility of XRP, which then positively impacts its price.
XRP has been bullish in the last 7 days due to excessive whale buying, a positive cross in its charts, expansion of Ripple's XRP-based businesses, and the possible end of its SEC case soon. The top altcoin has been one of the most undervalued cryptocurrencies among large-caps.
XRP Price Trends for the Last 7 Days
At press time, it had decisively crossed $2.5 with a weekly gain of 5% and a trading volume of $5.5 billion. XRP was among the top cryptocurrencies that rallied after Donald Trump's win, going from $0.5 to $2 in a matter of days.
This month, XRP could possibly reach around $6 levels with a 140% gain amid huge growth potential in the long term future.
XRP USDT Charts
The short-term moving average on the XRP charts has moved above the long-term average, resulting in a positive MACD crossover. The move occurred on 11 Jan and could take XRP to $6 soon, possibly by the end of January 2024.
XRP quoted a price of $2.54 with an intraday gain of 0.1% at press time.
The price seems to encounter major resistance at $2.5 to $2.8 levels, which was its highest price in 2024. Above the $2.86 price, XRP stands to gain until the price of $6, with almost little to no resistance seen in its charts.
This opens a 140% gain potential for the short term.
Earlier last weekend, Ali Martinez spotted whales buying 1 Billion XRP between 8 and 10 January.
Lately, there has been massive whale buying in top altcoins like Ethereum, XRP, and Dogecoin, indicating the strong potential of an upcoming altcoin rally.
Whale buying also indicates the possibility of a positive long-term outlook, as whale money is typically considered to be a stable investment, unlike retail investors.
Retail investors have lately become smart, learning from their past mistakes. In the last peak of XRP in Nov 2024, retailers avoided buying it at higher levels despite sweet valuations. This situation prevented whales from using retail money as exit liquidity, preventing a bull trap for retail investors.
Maturing crypto markets has been a significant reason for lower sell-offs and lesser volatility lately. This development has enabled the markets to become stable investment choices, similar to stock markets. Stable markets help in the long-term growth of its assets by ensuring the protection of investor wealth to a certain extent.
XRP also benefits from the possible end of all its current legal troubles. Recently, Ripple CEO Brad Garlinghouse contributed $5 million to Trump’s inaugural fund in hopes of building a better relationship with the upcoming Trump administration. After Trump’s win, XRP saw a phenomenal rally to $2 and above from $0.5.
Further, under Trump, XRP stands to gain massively from Ripple's growth in its ODL business, cross-border payment solutions, and newly launched RLUSD stablecoin. All of Ripple's business components depend critically on the XRPL blockchain, which uses XRP to pay for transaction fees.
Another critical aspect of XRP's growth could be Ripple's strong partnerships across multiple business sectors. Ripple has recently partnered with Abrdn, a multi-billion pound liquidity fund, to enter the European RWA markets. Further, it already has a deep presence in Latin America, where the XRPL blockchain is used to tokenize and digitize land records.
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