XRP Could Reach $6.60 by 2025, Analyst Predicts, as Whale and Retail Activity Surge

XRP (XRP) has been making impressive strides in recent weeks, with the digital asset registering a remarkable 297% increase in November 2024, marking its highest monthly return on investment (ROI) since December 2017. The altcoin's close of $1.95 in November also represents a seven-year high, surpassing its previous top in 2021. XRP has continued its upward momentum, with a further 20% price gain in the last 24 hours. This surge has led one prominent analyst to predict that XRP could achieve a new all-time high above $6 by 2025.

Analyst Sets "FOMO" Target at $6.60

Jacob Canfield, an independent crypto trader, has set an ambitious price target for XRP, predicting the token could rise another 100% from its previous all-time high of $3.40. Canfield’s analysis, based on Fibonacci extensions and XRP’s performance relative to Bitcoin during previous bull runs, suggests that XRP could follow a similar pattern to Bitcoin’s 2017 rally. According to Canfield, since Bitcoin is currently five times higher than its 2017 price when XRP hit its peak, XRP could realistically reach $6.60.

"This would put the price around $6.60, exactly double its previous all-time high," Canfield explained. "I think this is the ideal FOMO target, and while it may not reach double digits, this scenario seems very logical."

Other Analysts Agree on Strong Price Potential

Tony Edward, the founder of the Thinking Crypto podcast, has also weighed in with a conservative price target for XRP in the range of $5 to $8. While he acknowledges the strong potential for further gains, he advises caution and suggests profit-taking strategies along the way.

Crypto educator Neel notes that XRP's recent price surge indicates growing interest from new retail investors, many of whom are drawn in by media coverage and mainstream exposure of crypto assets. This influx of new retail investors, combined with the bullish price action, further strengthens the case for XRP’s continued growth.

XRP Whales and Retail Investors Accumulate $1.6 Billion in Tokens

Beyond the impressive price gains, XRP’s on-chain data also supports a bullish outlook. Whale and retail investors alike have been increasing their holdings of the digital asset. According to data from Santiment, wallets holding between 1 million and 10 million XRP have accumulated a significant 679.1 million tokens in just three weeks, valued at approximately $1.6 billion. This accumulation suggests that both large holders (whales) and smaller retail investors are confident in XRP's future potential.

The combination of strong price action, heightened investor interest, and increasing accumulation by both whales and retail holders presents a promising outlook for XRP in the coming months. With analyst targets pointing to a potential price surge to as high as $6.60 by 2025, XRP is undoubtedly one of the most talked-about altcoins in crypto space.

As XRP continues to make headlines, its market dynamics—both, both on-chain and off-chain—are, are making it a digital asset to watch closely for the remainder of 2024 and beyond.