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XRP price forecast targets $6.60 by 2025

XRP price forecast targets $6.60 by 2025

GrafaGrafa2024/12/03 06:40
By:Isaac Francis

XRP (CRYPTO:XRP) registered a notable 297% rise in November 2024, marking its highest monthly return on investment since December 2017.

The token closed the month at $1.95, a seven-year high and a breakout above its 2021 peak.

Jacob Canfield, an independent crypto trader, projected that XRP could double its previous all-time high of $3.40.

Using Fibonacci extensions and XRP's performance during its 2017 rally, Canfield explained, “This would put the price around $6.60, exactly 2X the value of its previous high. I think this is probably the ideal FOMO target and would stop thinking double digits or higher and is very logical.”

Other analysts shared similar optimism.

Tony Edward, founder of Thinking Crypto, set his target within the $5 to $8 range but advocated a conservative profit-taking strategy.

Meanwhile, Neel, a crypto educator, noted that the surge indicates "new retail is coming in," pointing to increased mainstream interest in XRP.

On-chain data supports this growing momentum.

According to Santiment, XRP wallets holding 1 million to 10 million tokens accumulated 679.1 million XRP, valued at $1.6 billion, in just three weeks.

“Total non-empty XRP wallets have eclipsed 5.5M for the first time in the coin’s 8+ year history,” the analytics platform revealed.

The token’s futures market activity also surged, with open interest hitting a new high of $3.99 billion on December 2.

This marks a near 100% increase since November 28, reflecting increased trader activity alongside spot market interest.

If XRP surpasses $1.99 by the end of 2024, it would mark its highest annual close.

Analysts believe that bullish market conditions and rising retail and institutional interest could push XRP further into uncharted territory by 2025.

At the time of reporting, the XRP price was $2.73.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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