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Simon Chandler
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Simon Chandler
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XRP has suffered an overnight selloff, with its fall to $2.32 marking a 4% decline in 24 hours.
This loss is in line with the rest of the market, which is also weathering some profit-taking and uncertainty today, although some coins are up (e.g. Monero, Virtuals Protocol, Curve DAO, Gate, Optimism).
XRP is now flat in the past week, but it remains up by an impressive 44% in a fortnight and 250% in a month.
And while one whale has moved $95 million in XRP to Coinbase in the past 24 hours, the coin’s volume remains bullish, with one analyst suggesting it could rise as high as $5.85 in the current cycle.
XRP Eyes All-Time High as Whales Move $95M – Could $5.85 Be Next?
It’s entirely possible that the 35.4 million XRP moved to Coinbase yesterday has already sold, given the alt’s 24-hour dip.
Yet you could argue that this kind of profit-taking is a sign of XRP’s current strength more than anything, with the owner of the wallet above simply capitalizing on the coin’s recent gains.
And other recent transfers show that large traders continue to bet big on XRP, with one whale buying 22.1 million XRP on Binance on December 10.
We’ve also seen Ripple itself shift around huge quantities of XRP, which if nothing else is a sign that the token is in demand for cross-border purposes.
As such, XRP’s picture remains entirely positive, with the coin today posting a 24-hour trading volume of $10 billion, which is still just over 800% higher than where it was a quarter ago.
Its chart today suggests that it may have to suffer for one or two more days before it launches a concerted recovery, with its indicators signalling a loss of near-term momentum.
For example, it looks as though its 30-period average (orange) is about to drop below the 200-period (blue), something which normally indicates an arriving selloff.
Likewise, its relative strength index (purple) has fallen towards 40 in the past few hours, meaning that XRP may not recover until the indicator touches 30.
Despite its short-term weakness, many holders and traders are confident that XRP will soon begin approaching its current ATH ($3.40), with some suggesting even higher targets.
While XRP may not hit $3 before the end of the year, it should cross this threshold by the end of Q1 2025, before troubling its ATH in Q2.
Diversification with High-Potential Presale Coins
XRP is now looking like it could rally big in the coming months, but it won’t be the only alt pushing on during the current bull market.
We will also see strong performance from newer tokens, including some of the bigger presale coins, which can often surge on the back of good momentum.
One of the most exciting presale coins right now is Best Wallet Token (BEST), which has raised $3.8 million in its ongoing raise.
BEST is the utility token for Best Wallet, which has become one of the most popular wallets in crypto after launching in 2023.
Accordingly, it will provide holders with discounts on transaction fees, higher staking rewards, voting rights, as well as early access to new projects, presales and airdrops.
This means that BEST will have huge utility, and because Best Wallet is already a popular non-custodial wallet, it’s likely to experience plenty of demand.
To join its sale, investors can go to the official Best Wallet Token website and connect their wallet.
BEST is currently selling at a price of $0.023125, although this will rise in just over a day.
It will continue to rise as the sale progresses, with the offering having 100 stages in total.
Interested investors should therefore act quickly, since it seems as though Best Wallet is shaping up to be one of the biggest new coins of 2025.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
