XRP has been a hot topic in the crypto world following its impressive performance in November 2024, where it surged by 283% after Donald Trump’s victory in the U.S presidential election. This marked XRP’s highest monthly close in seven years. The token continued its rally into December, reaching a seven-year high of $2.90 on Dec. 5 before facing resistance and consolidating around $2 as the broader crypto market also corrected.
Market commentator Oscar Ramos believes that XRP holders are on the verge of getting rich, with just one catalyst needed to trigger the next upsurge in XRP’s price. He sees the current consolidation phase as temporary and views it as an opportunity for investors to accumulate more XRP before the next potential breakout. Ramos highlighted that the market is relatively quiet during Christmas, providing a good chance for buyers to acquire XRP at its current price levels.
Ramos pointed out several potential catalysts that could drive XRP’s price higher, one being the increasing interest in institutional crypto investments. Examples like MicroStrategy’s significant Bitcoin purchase indicate growing confidence in digital assets, which could benefit XRP by drawing more attention to the broader crypto market. Additionally, the potential approval of an XRP ETF and the launch of Ripple’s stablecoin RLUSD are also seen as potential drivers for XRP’s price.
The current market sentiment remains positive, with the global crypto market cap at $3 trillion and Bitcoin and Ethereum prices still below $100,000 and $4,000, respectively. Ripple CEO Brad Garlinghouse’s prediction of the market hitting a $5 trillion valuation further adds to the optimism. Ramos anticipates that reaching a $4 trillion valuation would require Bitcoin, Ethereum, and other altcoins to set new all-time highs, with XRP potentially surpassing its previous all-time high of $3.31 from early 2018.
Despite XRP trading at $2.30 at press time, down 7.8% in the past week, it has seen an 18% increase in December. Ramos remains bullish on XRP’s prospects due to the potential catalysts on the horizon and the overall positive market sentiment. He advises investors to be prepared for a sudden price surge in the near future, emphasizing the opportunity to accumulate XRP at its current price levels before the next potential breakout.
In summary, XRP holders are anticipating a significant price increase in the near future, with just one catalyst needed to trigger the next upsurge. Market commentator Oscar Ramos believes that the current consolidation phase is temporary and presents an opportunity for investors to accumulate more XRP before a potential breakout. With several potential catalysts such as growing institutional interest in crypto investments and the launch of Ripple’s stablecoin, there is optimism surrounding XRP’s future price movements. Despite the current market correction, Ramos remains confident that XRP will benefit from the overall positive market sentiment and could potentially surpass its previous all-time high in the coming months.
