XRP Accumulation Hits $826 Million in Two Days: What It Means
XRP has started the new year strong, with the price rising by 10% in the past 24 hours. This rally comes against the backdrop of an accumulation of 350 million XRP in the past two days.
On-chain data has since shown further bullish momentum, suggesting XRP’s rise may not be over yet. Here’s what’s next for cryptocurrencies.
XRP holders start buying in bulk starting in 2025
December 31, 2024 Ripple value It’s $2.12. As of writing, it has risen to $2.36, making it the biggest gainer among the top ten cryptocurrencies.
According to BeInCrypto’s findings, this price increase may be related to the massive accumulation of XRP. Santiment data shows that the total balance of addresses holding between 100 million and 1 billion XRP increased from 9.36 billion on Tuesday to 9.71 billion today, with 350 million tokens worth $826 million purchased.
Accumulation of this magnitude usually signals strong buying pressure and, if the trend continues, The price of XRP may rise further momentum.
In addition to this buying pressure, on-chain data shows a significant rise in the cryptocurrency’s social dominance. As the name suggests, social dominance measures the market’s focus on cryptocurrencies.
When it increases, it indicates a higher level of discussion surrounding the coin compared to other assets in the top 100. decline There are other hints.
As of press time, XRP’s social dominance has risen to 5.61%, indicating that demand for the coin may increase if it maintains the attention it is currently receiving. If this is the case, XRP price could start trading above $3 in the first month of this year.
XRP Price Prediction: Bullish Momentum Continues
and XRP closed the previous year 2, the daily chart shows that the altcoin has formed a bull flag pattern. The bull flag pattern resembles a flag on a pole and is considered an important signal when analyzing cryptocurrencies.
It forms after a strong uptrend, followed by a brief period of consolidation. This often results in another significant price increase as investors anticipate continued price increases. Typically, a correction occurs when price falls below the flag pattern. But in this case, the price of XRP broke out of the flag pattern, indicating that the altcoin’s value could rise to $3.25.
if XRP accumulation intensifies massivelythe price may be higher. However, if Coin Faces Significant Selling Pressurethe trend may change and the price may drop to $1.80.
Disclaimer
conform to trust project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions, privacy policyand Disclaimer Updated.
