CandleFocus XRP Price Prediction for December 2, 2024, Amid $256M of Inflow
2024-12-01
Author: Content Editor
XRP, the native token of Ripple, has reached the $2 level for the second time since January 2018. This milestone has led to increased participation from whales and investors, with many wondering if the rally will continue or if a price correction is imminent. On-chain analytics firm Coinglass has reported that whales and institutions have been dumping millions of dollars worth of XRP onto exchanges, potentially indicating a sell-off and price decline. However, traders are optimistic and holding long positions, indicating a strong bullish sentiment. While the on-chain metrics suggest that bulls are currently in control, the offloading of XRP by whales and institutions suggests a potential price correction. Technical analysis suggests that XRP could reach $3.15 in the coming days, but a minor correction or breakout retest may occur. XRP is currently trading near $2.17 and has seen a 15% price gain in the past 24 hours.
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