The post XRP Price News, Analysis and Prediction: New ATHs By May or June appeared first on Coinpedia Fintech News
XRP has seen incredible growth recently, skyrocketing 379% in market cap, moving from about $0.50 to around $2.45 in just five months. Despite some positive news around XRP, including Ripple’s win against the SEC, there are still questions about what’s coming next for XRP’s price.
XRP’s Price Trends and What the Data Shows
XRP’s price has been driven up by a lot of positive news, but according to Brian from Santiment, it might see a bit of a slowdown. He points to the Market Value to Realized Value (MVRV) ratio, which shows how much profit holders have made. Earlier this year, the average XRP wallet was up 120-134%, but now the market has calmed down, with a smaller increase of 42% over the past year. Brian said that the best time to buy XRP could be when the MVRV drops to below 20%, signaling that the market may be oversold and ready for a price rebound.
Whale Activity: Less Action, But No Panic Selling
Whale activity, which is when large holders make big moves, has slowed down recently. Only about 120 large transactions of over $1 million are happening each day, compared to over 5,000 during the rally earlier in 2023. Despite this, large holders are still holding on to their XRP. Wallets with a million or more XRP tokens have continued to increase, meaning these big investors are confident in the long-term potential of the token. In fact, since December 2022, the amount of XRP held by these wallets has increased by 11%.
What’s Next for XRP?
With the legal case wrapped up, XRP’s price might experience some short-term ups and downs as the market reacts. Historically, news about the SEC lawsuit has caused XRP’s price to dip, only to bounce back stronger later. If everything goes according to the analyst’s predictions, XRP has the potential to hit new highs by May or June if the market remains stable and the good news continues.