☄️ Ripple's XRP crosses $100 billion market cap following high expectations for its stablecoin and ETF approvals


🚧 Ripple’s XRP rose to $1.7 after rumors of RLUSD approval by New York regulators made the headlines.
🛄 Bitwise's André Dragosch stated that an XRP approval is even more likely in 2025 as retail investors show higher demands.
XRP could extend its rally by 30% if it surges above the $1.96 level.

📯 Ripple's XRP rallied near the $2 mark on Friday after rumors of New York regulators approving the company's RLUSD stablecoin surfaced. The growing demand for an XRP exchange-traded fund (ETF) could also accelerate its launch in 2025.

👀 Ripple's XRP sees high bullish momentum ahead of potential stablecoin approval and ETF launch
XRP is seeing increased positive sentiment after posting double-digit gains on Friday following recent updates concerning its stablecoin release and ETF approval.
The remittance-based token surged over 17%, flipping BNB as the fifth largest cryptocurrency and reaching the $100 billion milestone.
The rise can be traced to rumors stating that the New York Department of Financial Services (NYDFS) may be considering approving Ripple's new stablecoin, RLUSD, with a potential launch in December, according to Fox Business.

📮 By introducing a regulated stablecoin, Ripple aims to provide a reliable alternative to XRP for customers seeking to use digital currencies without the risks associated with volatility and regulatory ambiguity. 
This would position Ripple as a competitor to popular issuers like Tether and Circle in New York's regulated digital finance market.
Meanwhile, Bitwise analysts suggested in a Friday report that an XRP ETF is more likely to receive the green light from the Securities & Exchange Commission (SEC) in 2025.
🧑‍⚖️ According to the report, XRP is among the top most searched tokens by retail investors, ranking 4th in allocation. This suggests that investors are actively seeking means to gain XRP exposure.
The report also highlighted that a wide array of XRP use cases solidifies its value as an asset, especially in powering cross-border payments in the traditional financial system.
🪩 XRP on the way to complete rounded bottom pattern
XRP rallied over 17%, sparking $24.75 million in liquidations in the past 24 hours, per Coinglass data. Liquidated long and short positions accounted for $7.58 million and $17.17 million respectively.
XRP is approaching the $1.96 high of 2021 as it looks to complete a rounded bottom pattern. If XRP fails to see a rejection near the $1.96 resistance, it could extend its rally by over 30% to $2.58.

📊 XRP/USDT weekly chart
The Relative Strength Index (RSI) is deep in the oversold region, indicating prices are getting overheated and may see a correction.

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🍾🏆XRP records highest ever ‘whale’ activity as 7-day price gains near 100%



🚨XRP has experienced a significant price increase, up by 430% in the last 30 days, reaching levels last seen in 2018.
There's been an unprecedented movement of XRP by large holders (whales), with CryptoQuant data indicating high whale activity over the past month.
🤔However, this whale activity may signal potential market tops.
XRP prices have zoomed 430% in the past 30 days, reaching price levels last seen in 2018 and leaving scores of Crypto Twitter traders surprised with the strength. The rise started in early November after the Republican victory in the U.S. election reignited investor confidence in tokens linked to U.S. companies, including XRP's associated Ripple Labs.
Large holders are playing a key role in contributing to the move. CryptoQuant data shows whale activity – which tracks movements from large wallets to and from exchanges – has been consistently elevated since the past month, multiples higher than any other period.


⚠️🔥XRP's whale activity (CryptoQuant)
Whales can move markets with their buying or selling pressure, and tracking this can indicate their market sentiment.
For instance, if the cryptocurrency's inflow into exchanges (Exchange Inflows) is significant, it might suggest that whales are preparing to sell, potentially signaling a bearish market trend. Conversely, large outflows from exchanges might indicate accumulation by whales, which could be bullish.
However, such whale movements tend to coincide with local peaks, CryptoQuant's contributing analyst Woominkyu said in a post Monday, as sophisticated participants sell on retail inflows.
“Historically, significant spikes in whale-to-exchange transactions (marked by red circles) align closely with XRP price peaks,” Woominkyu stated. “This suggests that whales tend to move large amounts of XRP to exchanges to sell near local or cycle tops.”
“The latest spike in whale-to-exchange activity coincides with XRP reaching a local price of around $2.3. This could indicate whales preparing for potential profit-taking or increased market activity,” Woominkyu added.
XRP is up 14% in the past 24 hours, outperforming bitcoin and all other crypto majors, according to CoinDesk data. The token flipped Solana’s SOL and tether (USDT) in quick succession over the weekend — standing as the third-largest token by market cap as on Tuesday.


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📛 Ripple's XRP sees over $4 billion in profit-taking following surge in whale activity


🤔Ripple's XRP declined briefly after South Korea declared martial law.
XRP whales have weathered over $4 billion in realized profits in the past three days.
XRP could spring to a new all-time high if it recovers above the $2.58 level.
Ripple's XRP is down 5% on Tuesday after news of South Korea declaring martial law sparked a surge in selling activity and significant profit-taking among investors. However, whales have stepped up buying pressure as the remittance-based token looks to stage a recovery.
XRP's rally temporarily affected by halting of trading in South Korean exchanges
After its impressive rally in the past week, XRP briefly declined 7% on Tuesday following news of South Korean President Yoon declaring martial law. The news triggered panic selling among investors, with prices on Korean exchanges deviating from the general spot market.

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♻️ Ripple's XRP may see a rebound after recent pullback; on-chain data suggests further upward potential

🤔📈Ripple's XRP funding rate isn't very high compared to previous bullish seasons despite a 400% rise in the past month.

🚨 RLUSD will not debut yet despite rumors of an alleged launch on Wednesday.
XRP struggles to reclaim $2.58 amid a quest for a new all-time high at $3.57.

📮 XRP traded near $2.4 on Wednesday as Ripple Labs clarified that its RLUSD stablecoin will not debut on exchanges despite a rumored launch among crypto community members. Amid a sharp decline in XRP's price, on-chain data shows the remittance-based token still has the potential to resume its rally.
XRP could resume rally as attention turns to RLUSD launch
XRP witnessed double-digit losses on Wednesday, declining 11% despite its 400% gains in the past month. The asset has been among the top trending altcoins, leading the charge for the much-anticipated alt season.

🧑‍⚖️ Despite the massive rise, XRP's funding rate remains somewhat stable compared to levels seen during its rally in February 2024 and the March 2021 bull market, according to Coinalyze data.

⚠️ XRP Funding Rates | Coinalyze
A stable funding rate indicates that the market isn't overly bullish, and there's potential for further price growth, reducing the risk of overheating.
Likewise, XRP's weighted sentiment is also at low levels compared to previous rallies. This indicates that retail traders may not be the primary factor behind the asset's recent strong uptrend.
When retailers are not the major factor behind a price rally, it reduces the potential for panic FUD selling during market downturns.

📛 XRP Weighted Sentiment | Santiment
As traders and investors anticipate a rebound in XRP's price, attention has also turned to the upcoming launch of the RLUSD stablecoin.
RLUSD is Ripple's stablecoin pegged to the US dollar and aims to provide users with a more stable transaction asset. Major exchanges like Coinbase are already lining up to begin issuing RLUSD to customers for trade.
While most crypto community members anticipated the launch of RLUSD on Wednesday, Ripple clarified that the launch isn't happening yet as key details are being finalized with the New York State Department of Financial Services.
Despite some speculation, $RLUSD isn’t launching today. We’re in lockstep with the NYDFS on final approval and will share updates as soon as possible.

We are fully committed to launching under the supervision of NYDFS and upholding the highest regulatory standards. Stay tuned…
— Ripple (@ Ripple) December 4, 2024
XRP faces sell pressure near $2.58 amid quest for new all-time high at $3.57
XRP declined 11%, sparking over $34 million in liquidations in the past 24 hours, per Coinglass data. Liquidations included $25.37 million from long positions and $8.75 million from short positions.
XRP has struggled to reclaim the $2.58 level after declining below it on December 3, meaning sellers are defending the level.

XRP/USDT 4-hour chart
If the decline continues, it could find support at $1.96 near the 50-day Simple Moving Average (SMA).
However, if XRP sustains a high volume move above $2.58, it could rally to the upper boundary of a key rectangle channel at $3.57 to set a new all-time high.
The Relative Strength Index (RSI) momentum indicator is trending downward and testing its midline, signaling weakening bullish momentum.

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XRP loses position 3rd largest crypto spot as Ripple confirms postponing stablecoin launch

Ripple confirmed that it has delayed the launch of its stablecoin. Meanwhile, the price of XRP has dropped, causing it to lose its recently-earned position as the third-largest cryptocurrency.

🤔♻️Ripple week in review: Can XRP resume rally to hit a new all-time high?


😎 XRP investors realized over $5.86 billion in profits during the week.

🛄 XRP whales are slightly tilted toward accumulation despite holding an average profit of nearly 400%.

📊XRP needs to overcome the $2.92 level to stage a rally to a new all-time high.

📈 Ripple's XRP is up 7% on Friday as whales are holding onto their tokens despite high profit-taking among retail traders. This attitude from whales could push XRP to a new all-time high at $3.57.

XRP on-chain data indicates bullish sentiment despite record profit-taking
After extending its rally and rising to a four-year high of $2.91 on Tuesday, XRP saw a pullback, declining by about 17% in the following three days.
The decline was potentially sparked by increased profit-taking, as revealed by the XRP Network Realized Profit and Loss indicator, which shows investors have booked gains of over $5.86 billion since December 1. Such profit-taking is normal among investors during bull markets, especially when prices reach new highs.


XRP Network Realized Profit and Loss | Santiment
This is evidenced in the XRP Mean Coin Age metric, which shows that selling activity was rising in the week across all coin ages, especially among the 2-3 years cohorts. When this metric sees a decline, it sigifies distribution among the respective coin age cohort.

XRP Mean Coin Age | Santiment
Despite the recent pullback from profit-taking, other XRP on-chain data indicates that bullish sentiment is still dominant in the market.
The XRP Market Value to Realized Value (MVRV) ratio, which measures all holders' average profit or loss, shows that investors are still holding onto over 388% of profit.
Notably, most of the recent selling activity may have been from retailers, as whales have shown a slight bias toward accumulation. This is seen in the chart below, which shows that investors holding between 1M - 10M XRP increased their stash by 260 million XRP tokens in the week.

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Ripple slowed down for a correction within uptrend

Ripple Slowed Down For A Correction Within Uptrend, as we see an unfinished five-wave bullish cycle from @xrpscripts strategy...

#DUSKUSDT The price has broken the downtrend line well and with strong momentum and then pulled back to that trendline. We expect this pullback to be a sign of a continuation of the upward trend and, in the first step, it can touch the ceiling of this price of 0.33830 and then touch higher targets…