Despite a 9% price drop, optimism among XRP XRP/USD traders remains strong, with many holding their positions and anticipating upward momentum.
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
| XRP XRP/USD | $2.26 | $129.08 billion | -8.8% | -6.3% |
| Bitcoin BTC/USD | $98,630.61 | $1.95 trillion | -5.8% | -2.8% |
| Ethereum ETH/USD | $3,474.60 | $418.8 billion | -10.5% | -11.8% |
Trader Notes: Crypto trader Javon Marks reflected reflected on XRP's previous bull cycle, during which it achieved a 600x increase.
He suggests XRP could repeat this performance, potentially climbing 6,800% to around $168 in the current cycle.
Many traders revealed their personal holdings:
- Doctor Profit pointed out that XRP was overbought on smaller timeframes, signaling an imminent correction. Since his short entry, XRP has dropped 17%, prompting him to secure profits on half his position while holding his long-term spot holdings.
- CrediBULL Crypto took a long position after XRP reached an optimal trade entry zone on lower timeframes, expressing hope for a rebound.
- Blockchainedbb exited XRP after achieving a 300% gain from his entry price. He plans to re-enter at $1.5–$1.7, maintaining a final target of $7.
Statistics: Crypto analyst Ali Martinez reported that whales purchased an additional 110 million XRP in the past 24 hours.
Community News: In a Dec. 19 interview with eToro, Ripple CEO Brad Garlinghouse discussed the company's use of stablecoins like USDC and Tether, highlighting that Ripple once minted 20% of all USDC.
Garlinghouse emphasized that stablecoin regulation could position Ripple's RLUSD stablecoin as a key driver for XRP's next rally.
Read Next:
Image: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
