[ad_1]
XRP started the new year strong as the price increased by 10% in the past 24 hours, thanks to the accumulation of 350 million XRP tokens in the past two days.
On-chain data points to continued bullish momentum, suggesting that XRP’s bull run may not be over yet. Here’s what could happen next for this cryptocurrency.
Holder XRP started 2025 by buying aggressively
On December 31, 2024, the value of XRP is 2.12 USD. At this time, it had increased to $2.36, becoming the strongest rising cryptocurrency in the top 10.
According to TinTucBitcoin research, this price increase may be related to significant XRP accumulation. Data from Santiment shows that addresses holding between 100 million and 1 billion XRP increased their total balance from 9.36 billion on Tuesday to 9.71 billion today, with purchases of 350 million tokens worth 826 million USD.
This large-scale accumulation typically indicates strong buying pressure, and if this trend continues, the price of XRP could continue to rise.
Besides buying pressure, on-chain data shows a sharp increase in the cryptocurrency’s social rate. Social ratio measures the amount of attention the market is paying to a cryptocurrency.
When it rises, it suggests there is a high level of discussion around the Token compared to other assets in the top 100. However, if it falls, it implies the opposite.
Currently, XRP’s social share has increased to 5.61%, suggesting that demand for the token could increase if current attention is maintained. If so, XRP price could start the first month of the year above $3.
XRP Price Prediction: Upward momentum will continue
With XRP ending the year above $2, the daily chart shows that the altcoin has formed a bullish flag pattern. The bull flag pattern resembles a flag on a pole and is considered an important signal when analyzing a cryptocurrency.
It is formed after a strong uptrend, followed by a short period of accumulation. This often leads to another sharp price increase as investors expect prices to continue to rise. Usually, when the price breaks out of the flag pattern, a correction occurs. But in this case, the price of XRP broke through the flag pattern, suggesting that the value of this altcoin could rise to $3.25.
If XRP accumulation continues to increase in high volume, the price is likely to move higher. However, if the Token experiences significant selling pressure, the trend could change and the price could drop to $1.80.
General Bitcoin News
[ad_2]
