XRP to $10? Solana & Pepe Join the Rally!

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This year’s significant increase in the price of XRP can be attributed to a large-scale accumulation of XRP by wallets containing between 1 million and 10 million coins. These wallets now hold approximately 37% more XRP than they did two months ago, according to Santiments. Since November 12, 2024, these wallets have amassed around $3.8 billion worth of XRP.

Although XRP dropped by 6% over the past day, it’s nearly touching its record high of $3.40, a level last seen seven years ago, as indicated by Brave New Coin’s XRP Liquid Index.

Since late 2024, growth has surpassed a staggering 300%, and signs from the market hint at more upward movements. According to analyst Martinez, if the ongoing purchasing trend persists, we could see an XRP price projection of $10.

XRP is down today following the release of Trump’s meme coin. Brave New Coin’s XRP Liquid Index. 

According to Martinez, there’s a significant potential for XRP to triple in value by 2025. This prediction is based on two key factors: first, the breakout from a bull pennant pattern, which is a robust bullish indicator in technical analysis, and second, substantial investments by ‘whales’ (large investors).

XRP Surges 156% Against Ethereum — More to Come?

As a crypto investor, I’ve noticed an uptick in interest for XRP, while Ethereum seems to be losing favor among some investors. Crypto analyst Legacy highlighted a significant 156% increase in the XRP/ETH ratio since his recommendation for Ethereum-to-XRP conversions. He characterized Ethereum as overvalued and attributed XRP’s growth to its $rUSD stablecoin, the upcoming XRP Exchange-Traded Fund (ETF), and Ripple‘s strategic market initiatives.

The increasing open interest in XRP, currently at $7.6 billion as suggested by Coinglass data, shows a significant upward trend. In just this week alone, we’ve seen a 45% jump in open interest, signaling growing anticipation for potential price fluctuations and large-scale movements.

Legacy’s observations have sparked debate on whether XRP might outperform Ethereum. He envisions that the strong market showing of XRP, combined with its strategic alliances, may lead to an additional 200% surge relative to Ethereum within the immediate future.

Solana’s $70B Volume Milestone — What It Means

As an analyst, I’m not just focusing on XRP; I’ve got my eyes on Solana too. Currently trading at around $240, this cryptocurrency has been garnering attention due to its promising potential for growth. Specifically, I’m referring to the Tom DeMark Sequential indicator, which hints at a possible bullish trend reversal for Solana. Based on this, I predict that in the short term, Solana could surge as high as $220, a rather optimistic forecast for its price trajectory.

As a crypto investor, I’ve been truly amazed by the rapid growth within Solana’s ecosystem. Its decentralized exchange network has broken records, with monthly trading volumes skyrocketing to an astounding $70 billion. Just last week, we witnessed a staggering 27 billion increase in volume!

One standout player in this expansion is Raydium, which accounted for a whopping 63% of Solana’s weekly volume and processed an impressive $780 billion during November alone. This growth is not only exciting but also underscores the potential of Solana as a leading platform in the crypto space.

As the number of active addresses on Solana’s network swells to 25 million, the platform is experiencing a rapid increase in usage. This substantial growth, fueled by rising adoption and robust network performance, may propel Solana’s price towards $300 over the next few months.

Can Pepe Break $0.0000221 Resistance Again?

The meme-based cryptocurrency, PEPE, which saw an increase of more than 22% in December, continues to draw attention. Although it faces difficulties in surpassing the resistance level at $0.0000221, analysts remain hopeful about its future prospects. A well-known crypto analyst called Bullish Traders has expressed a positive outlook for PEPE, predicting:

A bullish pattern has developed in the chart at the current price level, which previously held strong support around $0.017. This area was tested twice as a double bottom, and now we anticipate a new bullish trend with an imminent breakout above the trend line. Potential targets for this move are $0.0235 and even higher at $0.0331.

Currently, PEPE is being traded at $0.0000187, which represents a decrease of 5.66% over the past day. However, analysts predict that the meme coin might surge to around $0.000033 in the near future. This optimistic outlook comes from the fact that the token has tested the $0.000017 support level twice within the recent timeframe.

Indeed! As the market works through the events connected to President Trump’s meme coin launch at the Crypto Ball on Friday, shrewd traders understand that the most promising opportunities still lie with XRP, Solana, and Pepe. Make sure you adjust your strategies accordingly.

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2025-01-19 11:40