XRP price experienced a 7% drop in value today, trading at $2.44. This downturn aligns with broader bearish trends in the crypto market, raising concerns among investors. Despite this volatility, experts remain optimistic about XRP’s long-term growth trajectory, citing several supportive factors.
What’s Next For XRP Price?
Ripple’s launch of its stablecoin RLUSD has been a key driver of market confidence. The move hints at a shift toward favorable crypto regulations in the United States, potentially opening new opportunities for Ripple’s native token. Moreover, the political climate has sparked further optimism.
President-elect Donald Trump’s pledge to transform the U.S. into a global crypto hub has buoyed hopes for a bullish environment for U.S.-based cryptocurrencies, including XRP, Hedera (HBAR), and Cardano (ADA). The possibility of a spot XRP ETF has also fueled speculation about a significant rally.
Analysts note the success of the spot Bitcoin ETF launched earlier this year, which has attracted substantial global attention. Bloomberg analyst Eric Balchunas recently predicted a wave of crypto ETFs in 2025, potentially including XRP, Solana, and Litecoin.
Additionally, regulatory changes in the U.S. have bolstered market sentiment. SEC Chair Gary Gensler is set to step down in January, and reports suggest Commissioner Caroline Crenshaw will not be renominated. Both figures are viewed as anti-crypto by the community, with their departures expected to foster a more crypto-friendly regulatory framework.
Hi all. We have a clear break on the daily chart!
XRP has followed our path for a long time. The latest example is the post we discussed 2 days back on 15 December, where we targeted $2.72, and today, XRP bounced back from $2.72 🎯
The confirmation is in place for $2.42 and… pic.twitter.com/WjBPyoXMfI
— Dark Defender (@DefendDark) December 17, 2024
Whale activity has further strengthened confidence in XRP’s future. Notably, large investors accumulated 830 million XRP earlier this week and recently added another 30 million tokens, signaling strong institutional interest.
Despite the recent dip, market analysts predict XRP price could rally close to $6. Popular analyst Dark Defender suggests the token may hover between $2.42 and $2.52 in the short term. Once it surpasses $2.52, XRP price could target $2.92 and $3.43, eventually reaching $5.85.
