XRP Trading Between $2.25 and $2.50 Amid Market Volatility
Ripple’s XRP reached a high of $2.82 on December 3rd but has since corrected to a trading range between $2.25 and $2.50, according to CoinMarketCap data. On December 1st, XRP dipped below $2.00 but has maintained a position above this threshold.
XRP is currently experiencing significant market volatility, similar to other digital assets. Vincent Van Code, a software engineer, predicts that XRP could reach $5 under current market conditions.
This prediction comes amid a broader crypto market downturn influenced by Bitcoin's fluctuations. Bitcoin briefly surpassed $100,000, hitting a peak of $104,088 before a rapid decline to $90,500. As of now, Bitcoin is trading above $98,000.
#XRP is not dumping; it’s a whole market thing. Triggered by #BTC dump. Fundamentals are strong for XRP; if you’re a holder, I expect it will hit $5 by February 2025. All this is noise.
Not Financial Advice. I am not qualified to give any advice. pic.twitter.com/33dtboWwRl
— Vincent Van Code (@vincent_vancode) December 5, 2024
Market Concerns Regarding Bitcoin and Crypto
The abrupt drop in Bitcoin prices impacted the wider crypto market, alarming many investors. Although Bitcoin experienced a larger loss, top altcoins like XRP faced declines as well.
XRP's price fell from $2.48 to $2.23, indicating a 10% decrease during Bitcoin's crash. Typically, altcoins experience significant price drops when Bitcoin corrects.
Current Price Corrections Considered 'Noise' for Long-Term Holders
<pObservers, including Van Code, noted XRP's resilience despite Bitcoin's decline. He emphasized the coin’s solid fundamentals amid market fluctuations and expects XRP to reach $5 by February 2025.
Van Code regards the current price corrections as “noise” that long-term holders can overlook. After a recent peak of $2.85, XRP's momentum has slowed, pushing the price closer to $2.10.
XRP Holders Preparing for Another Surge
XRP holders remain optimistic, anticipating catalysts to push the asset back toward its all-time highs. Currently priced at $2.36, XRP requires a 112% increase to reach $5. Over the past month, XRP has risen more than fourfold, sustaining hope among investors.
#XRPHolders
Get Ready #XRP Is About To Make New All Time High Of 3.50$ Very Soon. #XRP Printed Bull Flag Pattern
pic.twitter.com/UyiMuGO6s3
— XRP CAPTAIN (@UniverseTwenty) December 5, 2024
Analysts identify bullish patterns for XRP, with user “XRP Captain” suggesting holders prepare for an imminent breakout, pointing to a bull flag on the charts.
Featured image from Forbes, chart from TradingView