Ripple (XRP) Price Prediction: Can It Reach $3 per Coin?

Bittime - This December 2024, XRP has shown encouraging performance after successfully breaking through the $2 level for the second time since January 2018. What is the prediction for the price of XRP in the future? Can this coin reach $3? Check out the analysis review here!

This increase in the price of XRP is quite a significant achievement. Investors are now wondering, will the XRP price rally continue? 

With such a sharp rise in such a short period of time, various factors need to be analyzed to predict whether XRP will continue its rise towards $3 (around Rp. 47,700) or instead face a price correction.

Does the XRP Rally Continue?

Source: Coinpedia

After XRP reached the $2 level, its popularity soared rapidly, especially among large investors or whales which plays a significant role in price movements. 

The surge in participation from whales and financial institutions this raises an important question: Will this price rally continue? Or is there a possibility of a price correction in the near future?

According to data from Coinglass, an on-chain analytics company, in the last few days, there has been a sizable inflow of XRP to exchanges totaling $256 million (around IDR 4.064 trillion). 

This indicates that whales and large institutions are starting to move a large portion of their assets to exchanges, which is often a signal of potential sell-offs and falling prices.

Read also: Touching $100 Billion Marketcap, Will $XRP Price Crash Again?

Latest XRP Price Movements

At the time this article was written, the price of XRP was recorded at around $2.45 (around IDR 39,000), with trading volume reaching more than $29.15 billion (around IDR 465.6 trillion) in the last 24 hours. 

During this period, XRP recorded an increase of 30.66%, which is quite encouraging for investors. Apart from the price increasing significantly, the trading volume of this coin also increased by 124%.

XRP Price Analysis

Looking at the XRP price trend, we can use several technical indicators to predict possible next price movements. Technical analysis shows that XRP has just broken through the highly anticipated resistance level of $2 (Rp. 31,800). 

Following the breakout of this level, many analysts predict that XRP could continue its rise towards a price of around $3.15 (approximately IDR 50,100), although a minor price correction or retest of this level may occur before the price continues its upward journey.

However, keep in mind that even though bullish sentiment among traders is getting stronger with more than 66% of them holding long positions, there is the potential for price declines in line with the massive selling action carried out by whales and large institutions. 

In this case, the XRP price may experience a temporary correction before continuing the upward trend.

Read also: DOGE and XRP Beat Bitcoin in Trading Volume in South Korea

XRP Price Prediction

Source: Coinpedia

Moving on from technical analysis and market sentiment, many experts see the potential for the XRP price to rise towards $3 (Rp. 47,700) in the near future. 

Based on data from Coinglass, the Long/Short XRP ratio on the four-hour timeframe shows the dominance of long positions with a ratio value of 1.98, which indicates that traders are optimistic about the continuation of this rally.

However, a significant sell-off, as seen by the inflow of $256 million (Rp. 4.064 trillion) into the exchange, remains a factor to watch out for. In the short term, it is likely that XRP will see a slight price decline before continuing its push towards $3.

Read also: Solana (SOL) vs Ripple (XRP): Which is Good for Investment?

Conclusion

In December 2024, the price of XRP has reached quite an encouraging level with the potential to continue the rally to reach $3 (Rp. 47,700). However, as participation increases whales and large institutions moving XRP to exchanges, there is a possibility of a price correction in the near future. 

Nevertheless, the strong positive sentiment among traders and technical indicators that support an increase still provide great hope for XRP investors. Therefore, it is important for investors to continuously monitor market movements and prepare strategies to deal with possible price fluctuations.

Given the potential that XRP has and the existing market tension, we can conclude that the price of XRP has a great chance of breaking $3, but the journey to that number may not be smooth. 

Interested in XRP coin? You can directly buy XRP at Bittime, you know. Click here to be able to transact XRP right now!

FAQ About XRP

Is XRP a good investment now?

XRP is a very underrated crypto asset. This project is powerful, and the team behind it is amazing. The only thing holding XRP back is the SEC case against Ripple, which seems to be going in Ripple's favor.

Will XRP reach $1,000?

In a stable growth environment, XRP can reach $2.50-$4. This will value your 1,000 XRP at $2,500-$4,000 – a solid return for long-term holders. If Ripple faces setbacks such as regulatory hurdles or slower adoption, the price of XRP could range between $1-$1.50, leaving your 1,000 XRP at $1,000-$1,500.

Can XRP reach $5 by 2024?

Some experts believe

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Reference: 

Coinpedia Coinpedia article, accessed December 2, 2024

coinmarketcap, chart XRP Coinmarketcap, accessed December 2, 2024

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