Altcoin
How Long Will XRP Price Rally Continue?
The XRP price surge is single-handedly contributing to the crypto market gains with another 12.25% surge in the last 24 hours, to $2.73. Thus, the altcoin has extended its weekly gains to more than 90% and monthly gains to more than 440%. The next question in investors’ minds is whether or not this price rally can continue ahead from here.
How Long Will the XRP Price Rally Continue?
With 440% in the month, this has been one of the longest XRP price rallies in nearly eight years. Prominent market analyst Income Sharks noted that the current streak has lasted for 4 weeks and 2 days, with growing optimism that XRP could continue this bullish trend for a fifth consecutive week. “Maybe this time we can make it to 5 weeks before the red candle comes,” the analyst remarked.
Popular crypto analyst CrediBULL Crypto believes that XRP rally can extend with another 100% gains moving all the way to $4.21. He shared an optimistic outlook for XRP, asserting that the token is in the midst of a significant upward movement. According to CrediBULL, XRP appears to be advancing well into its third subwave of a larger bullish structure.
“The second subwave was short and sweet, while the first subwave of the larger third subwave looks complete,” the analyst noted, highlighting that two more waves within this third subwave could drive XRP to surpass its all-time high (ATH).
Furthermore, the analyst also dismissed the notion of several people calling it the top for XRP. “In my opinion, we’re just getting warmed up. The ascent is going to be pure mania,” the analyst noted.
XRP Whale Activity on the Rise
The XRP price rally extended as the XRP whales purchased a staggering 160 million XRP, worth $380 million, during the last weekend.
XRP has reached its highest levels in nearly seven years, fueled by significant accumulation from wallets holding 1M-10M XRP. Over the past three weeks, these wallets have added 679.1M XRP, valued at approximately $1.66 billion.
Additionally, the total number of non-empty XRP wallets has surpassed 5.5 million for the first time in the coin’s eight-year history, reported blockchain analytics platform Santiment.
Ripple Unlocking $1 Billion Worth of Altcoin?
With Ripple’s recent unlocking of 1 billion XRP, the debate has once again sparked as to why Ripple is dumping XRP in the market. The parent firm currently holds 43% of the altcoin supply in the market.
However, it turns out that after Ripple unlocked 1 billion XRP from escrow three days before, it immediately locked 770M XRP coins for another five years. Analyst CrediBULL crypto noted:
“The “Ripple unlocks 1B tokens every month to dump on you” narrative has been repeatedly debunked so many times now that anyone still pushing that narrative at this point has to be doing it for engagement or is simply being willfully ignorant”.
The XRP price is currently trading 12.67% up at $2.73 with a market cap of $155 billion. Also, the daily trading volume has also surged by 54% all the way to $4 billion. The Coinglass data shows that the open interest is up 4% to $4.35 billion hinting bullish sentiment among traders.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Pepe Coin whales’ constant accumulation of the frog-themed meme token amid a bull cycle has birthed an optimistic wave among investors globally. On Wednesday, on-chain data indicated that a whale continued bagging the meme token, accumulating a total of 337.09 billion PEPE to date. Simultaneously, with other stats indicating heightened market interest in the asset, a potential 7x pump remains much awaited by market enthusiasts across the crypto landscape.
Pepe Coin Whale Accumulation Upbeat, Crypto Market Bullish
As per data by Lookonchain, Pepe Coin whales continue to accumulate the frog-themed meme token, indicating increased market interest. Notably, the wallet address 0x160…b5B bought 337.09 billion PEPE, worth $6.92 million, from Binance over the past 20 days. This massive accumulation, in turn, set off optimistic waves for the token, flagging heightened buying pressure.
Simultaneously, Etherscan data showcased a gradual rise in the asset’s holders at the time of reporting. Per the data, nearly 334,000 addresses held Pepe Coin, sparking optimism amid a bullish Q4 crypto market.
Also, it’s worth mentioning that this one of the top meme coins was recently integrated into custody on Coinbase Prime. This enhanced offering further paves the way for money to inflow into the token, attracting a wide range of investors. Simultaneously, the frog-themed meme crypto’s ongoing bull run reflects market bullishness in the wake of the heightened buying and enhanced offerings.
PEPE Price To Surge 7x?
At the time of reporting, PEPE price was up nearly 0.5% and traded at $0.00002065. Its intraday low and high were $0.00001908 and $0.00002104, respectively. Further, the weekly and monthly charts for the coin showcased gains worth 12% and 154%, respectively. Altogether, the bullish trajectory, followed by increased buying, has solidified investors’ optimism surrounding further gains for the meme token.
Intriguingly, a recent PEPE price analysis by CoinGape pointed out that the meme coin could further rally 7x, phenomenally extending gains. This bullish analysis also rides the back of rising Pepe Coin whale accumulations, as over 10 trillion tokens were reported to be accumulated.
Overall, the abovementioned stats paint a highly bullish scenario for the frog-themed meme token, indicating more gains possible in light of burgeoning market interest. Market watchers continue to eye the coin, primarily reflecting bullish sentiments over future movements.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The crypto prices remain bullish today, with Bitcoin (BTC) consolidating in the $93K to $96K range. Among altcoins, Binance Coin (BNB) surged 15%, reaching a new all-time high. Tron (TRX) jumped 70%, securing its position in the top 10 cryptocurrencies by market valuation. Reserve Rights (RSR) became the day’s top gainer with an impressive 121% rally.
The global crypto market cap rose by approximately 1%, now at $3.54 trillion. Trading volume also saw a boost, climbing to $292 billion. Let’s dive deeper into the top cryptocurrencies by market capitalization and their price movements today, December 4.
Crypto Prices Today: BTC at $95K, ETH, SOL Gain, XRP Drops by 6%
Bitcoin (BTC) is inching closer to $96,000, continuing to trade within a consolidated range for over two weeks. Binance Coin surged to a new all-time high and is now trading at $750, reflecting strong market interest. Meanwhile, Tron (TRX) made a significant leap and has entered the top 10 cryptocurrencies by market capitalization.
Bitcoin Price Today
Bitcoin (BTC) price trades at $95,900, with a 24-hour range between $93,629 and $96,669. Its market cap reached $1.9 trillion. The trading volume in the last 24 hours stood at $70 billion. Bitcoin’s market dominance dropped by 0.3%, falling to 54.11%.
According to sosovalue $17 million in outflows from a small BTC ETF on Tuesday. Ark & 21 Shares sold $93 million worth of BTC. However, Fidelity recorded a $52 million inflow. BlackRock’s ETF data remains awaited, keeping investors curious.
Meanwhile, Bitcoin mining firm Foundry cut its workforce to just 80–90 employees. The firm aims to streamline its operations.
Ethereum Price Today
Ethereum (ETH) price trades at $3,667, reflecting a 1% increase over the past 24 hours. Its 24-hour low and high are $3,504 and $3,708. The cryptocurrency has a market cap of $441 billion and a 24-hour trading volume of $40 billion. Ethereum’s market dominance currently stands at 12.56%.
sosvalue reported ETH ETFs saw an inflow of $67 million, with Fidelity contributing $73 million. BlackRock’s data remains awaited, leaving analysts eager for updates.
Meanwhile, Ethereum co-founder Vitalik Buterin emphasized the need for enhanced security and privacy in Web3 wallets. He urged wallets to integrate privacy features directly, reducing reliance on specialized privacy wallets.
XRP Price Today
XRP is trading at $2.55, showing a 6% drop in the past 24 hours. Its 24-hour low and high are $2.36 and $2.86. XRP’s market cap stands at $145 billion, with $42 billion in trading volume. It is currently ranked 3rd by market cap.
In other news, Ripple lead attorney in the lawsuit, Jorge Tenreiro, has joined the US SEC as Chief Litigation Counsel. This move raises concerns over stricter crypto oversight, especially due to his role in the XRP case.
Solana Price Today
Solana (SOL) price is trading at $238, reflecting a 5% gain in the past 24 hours. Its 24-hour low and high are $216 and $240. The cryptocurrency’s market capitalization stands at $113 billion, with $8 billion in trading volume. Solana ranks 5th among cryptocurrencies by market cap.
In a significant development, Grayscale Investments has applied for a Solana ETF with the US SEC. This move highlights the growing institutional interest in Solana’s ecosystem.
Meme Crypto Prices Today
Meme coins are showing a mixed reaction today. Dogecoin (DOGE) price was down by 2%, trading at $0.41, with a 24-hour high of $0.42. On the other hand, Shiba Inu (SHIB) was up by 3%, trading at $0.00003015.
Other top meme coins are also showing mixed movements. PEPE was up by 1%, and WIF gained 4%, while Bonk was down by 1%. The meme coin market continues to remain volatile, with varied performances across different tokens.
Top Crypto Gainer Prices Today
Reserve Rights
Reserve Rights (RSR) price saw a massive 121% jump in the past 24 hours, trading at $0.026. Its 24-hour low and high were $0.01231 and $0.02669. This impressive rally has placed RSR among the top gainers today.
The surge in RSR price comes amid growing speculation about the potential appointment of Paul Atkins as the next U.S. SEC chair under President Donald Trump. This news has sparked increased interest in the project.
Tron
Tron (TRX) price was the second biggest gainer in the last 24 hours, soaring by 70% and trading at $0.38. It has now entered the top 10 cryptocurrencies by market cap. Its 24-hour low and high were $0.2245 and $0.4406, respectively. TRON’s market cap stands at $32 billion, with a trading volume of $12 billion. The strong price movement highlights growing investor interest and solidifies TRON’s position in the top-tier cryptocurrencies.
Top Crypto Loser Prices Today
Kaia
Kaia (KAIA) price was the worst performer in the last 24 hours, with a 17% decrease in price. Crypto prices today show it is trading at $0.34, with a low of $0.26 and a high of $0.39.
Flare Network
Flare Network (FLR) price dropped by 10% and is now trading at $0.034. Its 24-hour low and high are $0.03199 and $0.0382.
The hourly chart looks bullish for the crypto market, with major altcoins and Bitcoin up by 1 to 2%. Overall, the crypto prices today show strong bullish signs, which could be a positive signal for investors looking for growth in the coming days.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Altcoin
XRP Price On The Brink Of Another Breakout: The ‘Game-Changing Implications’ Of Ripple’s RLUSD Mints
XRP has been on a significant upsurge in the past few weeks. Notably, the XRP price recently surged to $2.81, its highest market value since January 2018, marking a significant milestone in its price trajectory. Interestingly, the XRP price rally has seen it overperforming most cryptocurrencies and overtaking BNB, Solana, and Tether USDT in market cap ranking. As the XRP price momentum grows, another stimulant might be on the rise that would send it on a greater surge. Particularly, fresh speculation around Ripple’s use of its escrow reserves for RLUSD mints is drawing attention across the cryptosphere.
The RLUSD Minting Strategy And Ripple’s Escrow
Rumors are that Ripple, the payment technology company behind XRP, may be planning to use its escrowed XRP as the initial reserve for RLUSD minting. As the largest holder of XRP, Ripple currently has approximately 37.24 billion tokens in escrow, with a set portion of 1 billion XRP tokens unlocked every month.
Related Reading: Thinking Of Selling Your Dogecoin Already? Crypto Analyst Puts Price Top In The Double-Digits
Meanwhile, RLUSD is Ripple’s new dollar-backed stablecoin that is expected to launch soon, with regulatory approval from the New York Department of Financial Services (NYDFS) anticipated on December 4.
According to a crypto analyst on social media platform X, this dollar-backed stablecoin could provide Ripple with a mechanism to sell RLUSD to its On-Demand Liquidity (ODL) partners, offering a significant boost in working capital. This approach could deliver two transformative outcomes for Ripple and the broader XRP Ledger (XRPL) ecosystem: a substantial liquidity injection and a controlled reduction in XRP’s total supply. Furthermore, it would provide utility for the locked XRP tokens in Ripple’s possession.
Game-Changing Implications For The XRP Price And XRPL
With RLUSD, Ripple would be entering a stablecoin market dominated by heavyweights like USDT and USDC. However, given its longstanding history with the crypto industry, Ripple might be in a good position to compete with other stablecoins.
If RLUSD becomes widely adopted, there will be an indirect demand for XRP, which will increase its utility. More demand for XRP in this context could positively affect its price. Additionally, the process of minting RLUSD might involve effectively locking up XRP tokens if used as escrows, resulting in a reduced circulating supply and further supporting price growth.
At the time of writing, XRP is trading at $2.74 and is currently up by about 12% and 90% in the past 24 hours and seven days, respectively. The rally follows intense whale accumulation, with wallets holding between 1 million and 10 million XRP collectively amassing over 679.1 million tokens in three weeks, according to data from on-chain analytics company Santiment.
Interestingly, this accumulation is currently valued at an approximate $1.66 billion. Such an accumulation trend could continue to push the XRP price on a positive path, with the next target being a break above $3 and a subsequent break into a new all-time high above $3.40.
Featured image created with Dall.E, chart from Tradingview.com
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