XRP Price Eyes $4 With Record Transactions on Binance

by

As a seasoned crypto investor with over a decade of experience navigating the volatile cryptocurrency markets, I find myself intrigued by the recent predictions for XRP‘s price surge to $4. Having witnessed numerous market cycles and corrections, I am not one to jump on every bandwagon but rather wait for solid signs before making investment decisions.

Despite the broader cryptocurrency market experiencing a downturn and most tokens trading at lower values, including Ripple, there has been notable transaction activity related to XRP on Binance. This is true even as the market undergoes corrections and Bitcoin hovers around $96K, which indicates a bearish trend. However, crypto experts suggest that if optimism returns, there could be a potential rise in XRP price up to $4.

Will XRP Price Hit $4 As Per Crypto Analyst?

A Crypto analyst highlights a potential bullish outlook for XRP price, predicting a continuation after its recent corrective phase. The current Ripple price stands at $2.18, with an identified rebuy zone set at $1.9280, signaling an optimal entry point. Expert anticipate the next resistance level and target at $4, suggesting potential upside.

According to the cryptocurrency analyst’s graph, there could be a rebound at approximately $1.92, which is an important point for buyers. This significant support might function as the primary factor in the price movement, suggesting an upward trajectory that could propel the token to the next stage. The ongoing market fluctuations could potentially serve as the foundation for additional progress.

As a researcher observing the cryptocurrency landscape, I notice that the market is experiencing persistent pressure, with Bitcoin (BTC) dipping below $95,000 as Christmas nears. The major altcoins are mirroring this trend, as Ripple falls and Ethereum (ETH) struggles to maintain a foothold above the $3,400 support level. The persistent downward movement suggests apprehension in the market, as investors prepare for potential volatile fluctuations in the crypto sector at year-end.

Surge in XRP Deposits on Binance Sparks Price Rally

Over the past while, there’s been a noticeable rise in deposits of XRP on Binance, which seems to have coincided with a substantial price hike. As per CryptoQuant, Ripple reached $2.20 in December 2024. This surge in deposits also represents one of the highest transaction volumes seen in the past two years, peaking at over 2 million transactions during this spike.

This action indicates a possible increase in trading, potentially due to sellers cashing out profits, and it might be a sign of escalating faith among investors in XRP. Analysts see this surge as possibly pointing towards growing confidence in the crypto market, where increased inflows into exchanges often herald substantial price fluctuations.

If bullish momentum resurfaces, it’s possible that the price of XRP could surge past its current resistance at $2.2 and even reach $4 within the next few days. Despite the market’s ongoing turbulence, Ripple shows signs of strength, bolstered by a high volume of transactions on Binance. There’s growing anticipation among investors for a potential recovery at crucial support points, which could spark optimism about XRP’s future performance in the face of challenging crypto market conditions. In other words, the robust activity within XRP suggests the potential for a substantial upswing under adverse circumstances.

Read More

2024-12-23 13:19