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Is Ripple (XRP) Gearing up for a Christmas Rally? (Analysts Weigh in)
As the year comes to a close and the holiday season kicks off, cryptocurrency enthusiasts are eagerly anticipating any signs of a market recovery. Against this backdrop, whispers of an impending price pump are gaining traction, specifically with regards to Ripple’s XRP token.
Ripple’s XRP has been no stranger to fluctuations, falling from over $2.50 in mid-December to less than $2 just three days later. However, as the market observes the cryptocurrency’s recent recovery to approximately $2.25, many analysts are now weighing in on the possibility of a Christmas rally.
Notable voices among these analysts include Crypto Bitlord and JAVON MARKS. The former foresees “the final pump for 2024 is loading,” while the latter points towards a potential “Hidden Bullish Divergence” that could propel XRP to over $2.90 and eventually break new ground with an all-time high.
Meanwhile, CrediBULL Crypto notes the extraordinary attractiveness of XRP’s chart, claiming it to be “the most bullish-looking chart in the entire space.” As such, they plan to re-enter a long position once again.
Whale activities have also caught attention. Noted investor Ali Martinez has reported a staggering 80 million token purchase over three days and another 40 million tokens stacked up today (December 24). This sudden increase in demand could fuel a price surge if the supply remains steady or even drops further. Additionally, the enthusiasm generated by such large-scale whale activity may entice smaller investors to enter the fray, resulting in enhanced upward pressure on prices.
As the crypto market continues to navigate its recent turmoil and potential turnarounds, it is crucial for traders and investors alike to remain vigilant, keeping a close eye on market trends while staying attuned to analyst predictions.
Source: cryptopotato.com
