Ripple’s cross-border token was at the forefront of gains last summer when its price reached a historic peak of around $3.65. However, back then the broader crypto market was booming, while the past several months have delivered heavy losses for the bulls.
XRP has shed approximately 65% of its valuation, yet it remains the subject of optimistic predictions, and some of those seem a bit far-fetched.
How High?
As of press time, the asset’s price trades at around $1.14, with X user BATMAN claiming that “volatility is loading.” The analyst noted that the asset has been hovering in the $1.08-$1.30 range for the past two weeks or so, predicting a breakout if it surges past the upper boundary, and that the bullish setup would be invalidated if XRP plunges below the depicted floor.
CRYPTOWZRD also claimed that the asset is at a crossroads. They opined that moving above the $1.18 resistance “will offer a long,” while rejection could benefit the short traders.
Certain analysts appear unfazed by the current market conditions and expect XRP to post explosive gains in the future. Such is the case with X user Tom, who recently argued that the asset has formed a pattern similar to its 2024 run, which took the price from $0.50 to $3.30.
“Except… this time the 1.272 Fib extension points to $8.42,” he added.
JAVON MARKS also made a shocking forecast. The market observer claimed that “XRP’s breakout stands, which means the measured move target near $17 does as well.”
It is important to note that an increase of that magnitude will require the token’s market cap to skyrocket to nearly $1 trillion. Bitcoin (BTC) remains the only cryptocurrency with a capitalization higher than that, and XRP appears unlikely to join it anytime soon, particularly during the prolonged bear market.
Observing These Factors
Multiple elements suggest the bulls might have to endure more pain in the short term. As CryptoPotato recently reported, XRP’s network activity dropped by roughly 50% in the span of just two weeks. This hints at waning user engagement that could intensify the sell-off.
Another issue is the whales’ behavior. More than 30 million XRP were distributed by large investors in a period of five days as the total holdings of these market participants slipped to around 3.78 billion units. This signals that they could be positioning for a further price decline: something that may scare smaller players and prompt them to cash out, too.
The institutional interest is among the few rays of hope. Data shows that spot XRP ETFs continue to attract capital, with inflows consistently surpassing outflows. This development suggests that pension funds, hedge funds, and other controversial investors continue to increase their exposure to Ripple’s native token: a trend completely opposite to the massive outflows witnessed from spot BTC and ETH ETFs.
Source: CryptoPotato
