Here’s a refined and edited version of the article for clarity and flow:
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Why Is Ripple’s (XRP) Price Up Today?
TL;DR:
While much of the cryptocurrency market is either deep in the red, like SUI, or showing only minor gains, such as BNB and DOGE, Ripple’s native token has been on an impressive rally.
But what’s behind this surge to a multi-week high of just over $2.50?
As shown in the chart below, Ripple’s native cross-border token experienced a significant decline at the end of December. After reaching over $2.70 following the launch of the company’s stablecoin, XRP plummeted to a monthly low of $1.96.
The token saw substantial volatility over the following weeks, including another dip below $2 on December 30. However, it managed to recover most of its losses and even spiked to $2.50 on January 4, 2025.
Afterward, the market underwent a retracement, sending Bitcoin (BTC) to a 7-week low, but XRP fared better this time, only dropping 15% to $2.20. It started its recovery a few days later, pushing past $2.50—its highest price since December 18.
While BTC struggles to stay above $94,000, many altcoins are showing sluggish performance on a daily scale. The most notable factor behind XRP’s recent rally seems to be increased whale activity. As CryptoPotato reported earlier, XRP whales spent more than $2 billion over just two days, accumulating over a billion tokens—a massive supply shock for the asset.
At the same time, analysts remain highly bullish on XRP, predicting substantial price increases and even new all-time highs, especially if the token can hold the $2.32 support level and break above $2.50.
> "$XRP: The price is still holding support, with some increased upside momentum. To maintain the local uptrend, the price should ideally stay above $2.32. $2.50 and $2.72 are the next resistance levels, and the chart context remains unchanged. A break above $2.50 is key..."
— More Crypto Online (@Morecryptoonl) January 11, 2025
#XRPPredictions #binancePizza #xrp #BinanceSquareFamily #Doge
The post Why Is Ripple’s (XRP) Price Up 
Today? originally appeared on CryptoPotato.