CandleFocus XRP loses momentum and dips 14% after record multi-year high – Is the top in?
2024-11-18
Author: Content Editor
The XRP cryptocurrency broke past $1 to reach a three-year high of $1.26, driven by anticipation of favorable regulatory changes and the potential resolution of Ripple's legal battle with the U.S. SEC. However, the price later retreated by 20%, leading to a shift in the distribution of XRP holdings. Whale Alert reported a significant inflow of XRP into the Bitstamp exchange, possibly from a whale looking to capitalize on the price increase. Larger wallets accumulated XRP while retail investors sold off their holdings. Liquidations worth over $12.6 million occurred in the XRP derivative market, with long traders being caught off guard. Analysts had varying price predictions for XRP, ranging from $5.36 to $6.36 by 2030, and from $1.8 to $3 in 2025. Long-term predictions suggested a minimum price target of $255.67 and a maximum peak of $325.86 by 2040. The outcome of the U.S. SEC case and market dynamics would play a significant role in XRP's future price.
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