Why Is Ripple’s (XRP) Price Up Today?
2025-01-12
Category: None

TL:DR;
As the graph above showcases, Ripple’s native cross-border token plunged hard at the end of December, going from over $2.7 after thelaunchof the company’s stablecoin to a monthly low of $1.96.
It went through massive volatility in the following weeks, including another drop to under $2 on December 30, but managed to recover most losses and even spiked to $2.5 on January 4, 2025.
Another market-wide retracement followed that took BTC south to a7-week low, but XRP coped better with the correction this time, sliding by a more pain-free 15% to $2.2.
It started its recovery a few days later and jumped to just over $2.5 minutes ago, which is actually its highest price tag in nearly a month (December 18).
At the same time, BTC struggles to remain above $94,000, while many other altcoins are quite sluggish on a daily scale.
Perhaps the most evident reason behind this is the increased whale activity as of late. As CryptoPotato reported earlier, XRP whales had spent more than $2 billion within two days to accumulate over a billion tokens, which is a massive supply shock for the asset.
At the same time, analysts continue to be highly bullish for XRP, predicting substantial price increases and even new all-time highs, especially if it maintains the $2.32 support line and conquers the $2.5 next.
$XRP: The price is still holding support and there is some increased upside momentum. To keep the local uptrend alive, the price should ideally hold above $2.32. $2.50 and $2.72 are the next resistance levels and the chart context has not changed. A break above $2.50 is needed as… pic.twitter.com/kcBNrUVSxj
— More Crypto Online (@Morecryptoonl) January 11, 2025