XRP continues to be the best-performing large-cap cryptocurrency, rallying by another 40% on Monday.
WisdomTree’s spot XRP ETF application, increasing odds of RLUSD stablecoin approval and strong futures market activity have pushed the XRP market capitalization past the $150 billion mark.
However, XRP price predictions from experts suggest that sidelined investors and swing traders may get a better entry point to scale into their long positions, considering the token faces key resistance levels both in its USD and BTC charts.
Why Is XRP Pumping Today?
XRP’s price chart is the result of a bullish breakout from a 3-year consolidatory triangle. Prominent crypto analysts like Blockchainedbb reveal that the breakout is still playing out and could push the token price to $3.30 in the coming months.
XRP has already flipped Solana and Tether in market capitalization, making it the 3rd largest cryptocurrency behind Bitcoin and Ethereum.
WisdomTree’s S-1 application for an XRP spot ETF has also added to the FOMO, with all eyes on BlackRock and Fidelity. Similarly, the growing likelihood of Ripple’s RLUSD stablecoin and strong futures market activity is also contributing to the bullish trajectory.
The XRP price is now up by nearly 400% since Donald Trump’s victory. The anti-Ripple SEC Chair Gary Gensler is set to resign and be replaced by a pro-crypto head like Paul Atkins.
As a result, the spot XRP ETF approval odds are extremely high, as is the likelihood of the SEC dropping or settling its lawsuit against Ripple. This would provide regulatory clarity, result in global partnerships and drive up the institutional demand for XRP.
It is not without any reason that a few XRP price predictions have the token trading as high as $18 in the long term.
Hey there. I hope you all are fine!Here is the weekly update on $XRP. People began to believe in XRP after our first target was eliminated at $1.88. Fibonacci’s level stands at $5.85. People started copying our targets, but never mind—we have known their precision for almost… pic.twitter.com/J52Aj5a51C
— Dark Defender (@DefendDark) December 2, 2024
XRP Price Prediction – Buy Now Or Wait?
While XRP remains an attractive long-term investment, sidelined investors and swing traders can no longer underestimate the possibility of a short-term dip.
For instance, the XRP price wicked above its 0.786 Fibonacci level in today’s rally. However, this is a multi-year resistance from the 2017-2018 cycle. It wouldn’t be a surprise if the token dips below this level before its upcoming weekly close.
Similarly, a prominent analyst Jacob Canfield reveals that the XRPBTC chart has also hit a multi-year resistance. While a bullish breakout above could result in another 250% rally, the possibility of a bearish rejection cannot be ignored.
Consequently, the risk-reward ratio isn’t favouring new long positions at the current price. Sidelined investors can wait for either a successful retest of the $2.50 support or a dip below the $2.00 price mark.
Best Crypto To Buy Now?
With XRP set to enter another consolidatory phase, the market capital would rotate to other crypto assets with bullish charts.
For instance, legendary trader Bluntz reveals that the top Base meme coin Brett could hit a new all-time high in the coming days and enter price discovery.
$BRETT just hit 2 billy mcap and flirting with an ATH breakout, quite surprised how little I see it talked about tbh. pic.twitter.com/lNJ0Wbnd4z
— Bluntz (@Bluntz_Capital) December 1, 2024
Similarly, the Moo Deng price could hit a new all-time high as well following its Coinbase listing on Monday.
The trending microcap meme coin Pepe Unchained (PEPU) is also nearing its highly-anticipated December launch.
The Pepe Unchained presale has already raised nearly $65 million. With the ICO set to end in just 10 days, the whale buys are only ramping up, contributing to the hype and FOMO.
PEPU’s in-demand utilities have already separated it from most new meme coins. Its upcoming Layer-2 chain will allow PEPU holders to benefit from extremely low trading costs as well as instant transactions.
Meanwhile, the project is also launching Pepe’s Pump Pad, a two-click meme coin launchpad that is expected to be a direct competitor to Solana’s Pump Fun. Considering Ethereum’s vast user base, it wouldn’t be a surprise if Pepe’s Pump Pad is as successful as Pump Fun.
With PEPU at the core of the ecosystem, it is no surprise that smart money investors are viewing it as one of the best crypto to buy right now. Many are even calling it the next 100x meme coin.
Visit Pepe Unchained Presale
Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
