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XRP Price Prediction: Ripple XRP to Kick-Start Altcoin Season With Charge to $10 by 2025?

24.11.2024
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The XRP price has exploded 30% to $0.45 as it marches towards reclaiming its all-time high of $3.84 – could it climb as high as $10 by 2025?

Ripple XRP’s gigantic rally comes on the back of news that Securities and Exchange Commission (SEC) chairman Gary Gensler will be stepping down on January 20 2025, the day of the US presidential inauguration.

Only a couple of weeks ago, Ripple’s XRP token’s prospect of reaching its ATH printed on New Year’s Day 2018 seemed wildly out of reach.

The SEC court case has hung as a permanent cloud over the coin price for four years, but Trump’s election victory and confirmation that Gensler will resign from post early, have put a rocket booster under the XRP price.

There are some XRP price predictions that are targeting $40 for the token in three months, such is the bullish euphoria.

In early 2017 we saw the first big #XRP explosion. If the charts repeats, the price targets will be $1.96, $6.30 and $40 for the next three months. pic.twitter.com/C7hVjCI9MX

— CryptoBull (@CryptoBull2020) November 22, 2024

XRP’s market capitalization has risen to $81.6 billion, closing in fifth-placed coin BNB on nearly $90 billion. The good news just keeps on coming for crypto, and after being an also-ran, XRP is now in the vanguard of altcoins.

As money pours into the sector, the overall market cap of crypto since the US election on November 5 has grown by $1 trillion to $3.29 trillion. Bitcoin, as ever, is the bellwether, and BTC dominance this year has increased from 50% in January to 59.6% today.

Market participants are eagerly looking for signs of that dominance waning as altcoins start to come in second. This heralds the start of full-blown altcoin season, defined by CoinMarketCap as when 75% of the top 100 altcoins outperform bitcoin over a 90-day period.

Taking an entry position of $1.40 and closing price high on CoinMarketCap of $3.84, an investor will make a return of 177%, with a risk/reward ratio of 3.81. In other words, a $1,000 outlay would return $4,805.

XRPUSD_2024-11-22_long position

XRP price outperformance versus bitcoin is an altcoin season go signal

One of the key signals has just started flashing – the XRP price. It is difficult to envisage any near or medium-term roadblocks ahead to stall the price momentum of XRP.

XRP is now outpacing bitcoin over 24-hour, 7 days, one-month, and three-month periods but underperforms over 12 months at -10.13%.

When (not if) bitcoin breaks through the $100,000 level it may take a breather, which may top altcoins like XRP flashing up on radars.

Traders looking for opportunities to invest beyond bitcoin will have noticed the recent XRP price surge and can expect to adjust their portfolio positioning accordingly.

This is especially true for institutions that have been scared off investing in XRP because of the court case and the lack of clarity over whether it is a security. It seems safe to assume that those issues are now mute.

Whoever Trump nominates for Treasury Secretary and SEC chairman is likely to be pro-crypto or, at worst, not anti-crypto in the way that Gary Gensler showed himself to be.

Although it would be far-fetched to expect Brad Garinghouse to nab the Treasury, he appears to have been attempting to influence the decision-making, and according to some, to shill his company’s services:

Brad Garlinghouse is shilling XRP and CBDC implementations. I am shilling American dynamism, and smart appointments that will solidify Trump’s legacy. We are not the same. https://t.co/AwpR8FBJgU

— Ryan Selkis (d/acc) 🇺🇸 (@twobitidiot) November 16, 2024

Whatever one’s views on the efficacy of central bank digital currencies and whether they are a threat to crypto, TradingView shows the 9-day simple moving average 24-hour trading volume of XRP ($11.92 billion) at its highest since April 2021.

In addition, the Relative Strength Index is heavily in the overbought region, which is a good thing in the current context.

XRP_2024-11-22 trading volume

Can the XRP price reach $10 by inauguration day on January 20?

Many analyst predictions from earlier in the year now look decidedly conservative. Some predicted an end-of-year XRP price of $1.44, but that number is now in the rearview mirror.

More bullish XRP followers were predicting 2.49 by year’s end, but that could come to pass by the end of next week at this rate.

It is not outlandish to see the XRP price breaking through the previous ATH at $3.84 and going on to finish the year somewhere between $5 and $10. That is a wide spread, yet the flood of money that could be about to enter the XRP market suggests this could be a realistic proposition.

XRP_2024-11-22_200MAvs50MA

The 200-day and 50-day moving averages don’t help us much in the present hyper-bullish environment, except that they show the 50MA (white line) crossing above the 200MA for the first time since August – a bullish confirmation.

The Biden administration has been waving an unlawful war on crypto: Brad Garlinghouse pic.twitter.com/zHWrKUpax3

— Mornings with Maria (@MorningsMaria) November 20, 2024

We would do better to listen to the Ripple CEO’s words. On Fox Business, Brad Garlinghouse doubles down on Ripple’s mission to revolutionize cross-border payments, pointing out that 95% of the company’s customers are outside the US.

The future is bright for crypto in Garlinghouse’s view and there’s one big reason for that, as he made clear in the Fox interview:

“What a difference ten days can make. For years, the crypto industry has been under attack in the U.S. It’s been a war. But now, the crypto industry has embraced Trump, and Trump has embraced the crypto industry.”

Brad Garlinghouse

Already own XRP? Here are two meme coins to spice up your portfolio: Pepe Unchained ($PEPU) and Crypto All-Stars ($STARS)

If you want to balance your portfolio with some spicey meme coins there are two notables worthy of consideration.

Pepe Unchained ($PEPU) is a Layer 2 blockchain that has so far raised more than $40 million in its ICO, as it readies to launch Pepe’s Pump Pad. Pump Pad is a product that will do for the Ethereum ecosystem what pump.fun has done for Solana meme coins. $PEPU could be the next Pepe. The presale ends in 20 days.

Crypto All-Stars ($STARS) is another innovator that is much more than a run-of-the-mill meme coin. Its Meme Vault will allow a broad range of meme coins to be staked in a unified system that is the first of its kind in crypto. $STARS is in presale and has raised more than $5 million. The ICO ends in 22 days.

Both meme coins can be bought in the leading Web3 wallet, Best Wallet, in the ‘Upcoming Tokens’ section of the app.

Best Wallet’s native token $BEST is also on sale within the app. Currently in a private sale exclusive to Best Wallet users before being opened up to all on Monday (November 25th), app users can buy today and snare the lowest price of $0.022667500 before the presale starts next week.

The post XRP Price Prediction: Ripple XRP to Kick-Start Altcoin Season With Charge to $10 by 2025? appeared first on Cryptonews.

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Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

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