XRP Price Eyes $4 As Binance Notes ATH Ripple Transactions
Highlights
- XRP price rebounds from $1.9280 support, setting the stage for growth.
- Record Binance deposits reflect rising investor confidence in Ripple.
- Consolidation hints at bullish momentum toward $4 target despite trends.
Ripple (XRP) saw a significant uptick that more than 6x’d its value in 2024. However, the uptrend paused as Bitcoin tanked below $95k. With the broader crypto market in the dumps, will XRP price hit $4 especially as Ripple’s deposit transactions on Binance hits a record high? Let’s explore this outlook in today’s CoinGape article.
Will XRP Price Hit $4 As Per Crypto Analyst?
A Crypto analyst highlights a potential bullish outlook for XRP price, predicting a continuation after its recent corrective phase. The current Ripple price stands at $2.18, with an identified rebuy zone set at $1.9280, signaling an optimal entry point. Expert anticipate the next resistance level and target at $4, suggesting potential upside.
The crypto analyst chart illustrates a potential bounce at the $1.92 level that is a crucial area for buyers. This support level may act as the key level in the price trend with upward pressure expected to push the token to the next level. The current market shifts may well become the basis for a further advance.
The cryptocurrency market remains under pressure, with Bitcoin (BTC) slipping below $95,000 as christmas approaches. The Major best altcoins followed the downward trend, with Ripple declining and Ethereum (ETH) struggling to hold above the $3,400 support level. The continued downward momentum signals uncertainty in the market as investors brace for potential year-end volatility in the crypto space.
Surge in XRP Deposits on Binance Sparks Price Rally
A recent spike in XRP exchange deposits on Binance has been observed, correlating with a significant price increase. According to CryptoQuant The Ripple soared to $2.20 in DEC 2024. The influx of deposits marked one of the highest transaction counts in 2 years, exceeding 2 million transactions during the spike.
This movement suggests heightened trading activity and potential profit-taking by holders. Analysts believe the surge may indicate growing investor confidence in XRP. The event reflects crypto market trends where increased exchange inflows often precede significant price movements.
If bullish presure sees a comeback, the XRP price forecast could soar above the $2.2 resistance level in the coming days, potentially reaching $4. Despite ongoing market uncertainty, Ripple remains resilient, supported by record transactions on Binance. Investors await a potential rebound at key support levels, fueling optimism. XRP’s strong activity signals potential for a significant rally amid challenging conditions in the crypto market.
Frequently Asked Questions (FAQs)
1. What is the next resistance level for XRP?
2. Why is XRP seeing increased activity on Binance?
3. How are record transactions on Binance affecting XRP?
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