XRP (CRYPTO: XRP) is continuing its parabolic uptrend amid fresh ETF applications and heightened whale activity.
Cryptocurrency | Price |
| 24-Hour Trend | 7-Day Trend |
XRP (CRYPTO: XRP) | $2.74 | $156.3 Billion | +44.7% | +93% |
Bitcoin (CRYPTO: BTC) | $97,276.76 | $1.93 Trillion | +0.04% | +1.5% |
Ethereum (CRYPTO: ETH) | $3,679.74 | $442.9 Billion | -1.4% | +4.4% |
Trader Notes: Influential investor Raoul Pal said on X that XRP has a "great-looking" chart, noting that a long wedge pattern similar to the current one previously led to a 5,600% rally.
He dubbed the current stage "Banana Zone Part 1:"
You've got to admit, $XRP is a good looking chart. Last time it broke a long wedge pattern it rose another 5,600%! (obvs wont repeat but you get the point – i can go up a lot) Banana Zone Part 1 pic.twitter.com/MTs6fdJrT3
— Raoul Pal (@RaoulGMI) December 2, 2024
Trader CrediBULL Crypto highlighted XRP's "historic" breakout, erasing 84 months of sideways movement in a single monthly candle.
Jacob Canfield predicts another 240% move back to resistance zones from 2017–2019, with potential for a 700% surge to all-time highs against Bitcoin.
Statistics: CryptoQuant CEO Ki Young Ju noted Coinbase's minute-level price premiums ranging from 3% to 13% during the surge, indicating strong interest from U.S.-based investors.
Korean exchange Upbit, which boasts more XRP investors than Binance, hasn't shown a premium yet.
Analytics firm Santiment reports wallets holding 1–10 million XRP have added 679.1 million tokens (worth $1.66 billion) in just three weeks.
Total non-empty XRP wallets have eclipsed 5.5 million for the first time in the coin's more than eight year history. Whale activity is at an all-time high.
Community News: WisdomTree filed to launch an XRP spot-exchange-traded fund, making it the fourth company in U.S. to submit a submit a Form S-1 filing with the Securities and Exchange Commission.
The proposed fund seeks to offer exposure to XRP's price through shares listed on the CBOE BZX Exchange.
The ETF plans to utilize a cash-create method initially, with in-kind creation/redemption requiring further regulatory approval.In the past, crypto asset manager Bitwise, Canary Capital and 21Shares.
