Crypto: XRP Could Double Its Value And Reach $6.60 By 2025

As the end-of-year holidays approach, the crypto market lights up, and several digital currencies emerge as promising gifts. Among them, XRP shines brightly, attracting both institutional investors and individuals. With a spectacular return in November, Ripple’s token seems ready to set new historical highs. Recent data analysis reveals a record accumulation of XRP tokens by crypto whales, suggesting an even brighter future for this altcoin.

XRP: historical highs in sight

In November 2024, XRP recorded a spectacular ROI of 297%, surpassing its previous peak from 2021. This performance, the best since 2017, brought its price to $1.95, its highest level in seven years.

Analysts, like Jacob Canfield, estimate that the XRP price could double its previous record of $3.40 to reach $6.60 by 2025. Based on Fibonacci extensions and BTC’s relative performances in 2017, Canfield describes this level as “the ideal FOMO target“.

The only difference between this $XRP move and those in the past is the price of Bitcoin is 5X higher than it was in 2017.

If we use Canfield Fibonacci extensions to give us an idea of where this move may take us, it would be at the 11.09 fib exension.

This would put the price… pic.twitter.com/fNYay1eFLF

— Jacob Canfield (@JacobCanfield) December 2, 2024

Tony Edward, founder of the Thinking Crypto podcast, shares a similar but more cautious perspective, placing the target price between $5 and $8. To reinforce this optimistic scenario, on-chain data reveals a growing enthusiasm among investors.

XRP wallets have reached 5.5 million active users, an unprecedented figure in eight years. This surge indicates renewed interest in Ripple.

Whales propel Ripple’s crypto to new horizons

Institutional investors, dubbed the “whales”, continue to wield significant influence over XRP’s momentum. Over the past three weeks, wallets holding between 1 and 10 million XRP have accumulated 679.1 million tokens, representing $1.6 billion.

This massive accumulation reflects an unwavering confidence in Ripple’s future potential.

Some notable figures:

• 5.5 million active XRP wallets in 2024, a historical record;
• $3.99 billion in open interest on XRP futures, an unprecedented peak;
• A 100% increase in transaction volume on the futures market since the end of November.

Neel, a crypto educator, also highlights that the growing interest from individuals in XRP shows that new investors are venturing into the market, attracted by the media buzz surrounding Ripple.

“Such momentum is rare,” he concludes.

In conclusion, XRP continues to surprise, now ranking as the 3rd crypto by market capitalization. This meteoric rise could worry Ethereum, which needs to keep a close eye on this rival. One thing is certain: Ripple isn’t done making headlines.