XRP has recently captured the attention of the crypto world, with an extraordinary 300% surge in price, reaching seven-year highs. However, as the rally begins to show signs of slowing down, questions arise about whether the asset can continue its ascent. According to prominent crypto analyst Ali Martinez, the answer may be yes—but with one key condition to meet first.
Martinez, in a recent X post on December 17, predicted that XRP could rise to $4, representing an over 50% increase from its current price of around $2.6. While the forecast has garnered attention, Martinez emphasized that XRP must first break through a critical resistance level at $2.6 for the rally to maintain momentum.
$XRP has been consolidating in this bull flag for a while, but once it clears the $2.60 resistance, I think it’s off to the races, heading toward $4!
— Ali (@ali_charts) December 17, 2024
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This $2.6 price point has acted as a significant barrier for XRP, particularly following its breakout from a bull flag pattern after reaching $2.9 on December 3. As seen in the four-hour candle chart shared by Martinez, the price has struggled to maintain its upward trajectory past this resistance. However, the analyst is optimistic that a breakthrough could ignite a renewed push toward $4, provided market conditions align.
Interestingly, XRP whales—large investors known for their market influence—seem to be preparing for such a breakout. On December 16, Martinez shared data from Santiment Feed, revealing that XRP whales had purchased a massive 830 million XRP, worth nearly $2.2 billion, in just 24 hours. This surge in whale activity may signal a build-up of demand necessary to push XRP past the critical $2.6 resistance.
Whales have purchased over 830 million $XRP in the last 24 hours! pic.twitter.com/KzNds2CVdf
— Ali (@ali_charts) December 16, 2024
Additionally, the timing of these whale purchases coincides with Ripple’s announcement of the launch of RLUSD, a stablecoin designed to enhance liquidity and decentralized finance (DeFi) activity on the XRP Ledger (XRPL). Many see this development as a significant catalyst for further XRP price growth, potentially fueling the demand needed to break the $2.6 barrier.
Also Read: XRP Breaks Out: Analyst Dark Defender Predicts $5.85 and $8.76 Targets Amid Bullish Momentum
With XRP whales loading up and key developments like RLUSD on the horizon, the stage could be set for a continued rally toward $4—if the asset can conquer its current resistance. The coming weeks will be crucial in determining whether XRP can sustain its momentum and reach new price heights.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.