XRP Price Prediction as $1.5 Billion Trading Volume Floods In – Big Rally Incoming?
At the time of writing, XRP, the native cryptocurrency of Ripple is trading at $0.49. It is currently trading close to its all-time high, having surged more than 1240% since May of this year. As per the on-chain data gathered by Santiment, an analytics platform, more than $1.5 billion worth of XRP has been traded across different exchanges. This influx of high trading volumes has spurred speculation that to suggest a big rally may be incoming.
Analysts suggest that this trend may continue to drive XRP’s price to new heights in the near future as institutions and retail investors alike continue to invest in the digital asset. The growing demand for XRP has pushed its market cap to over $22 billion, making it the third largest cryptocurrency by market cap.
As for the XRP price prediction, analysts expect it to reach $1 or higher by the end of 2021, as demand for the cryptocurrency keeps increasing with money flooding into the market. Although XRP is yet to break its all-time-high of $3.40, a big rally may be incoming given the strong fundamentals and bullish market sentiment.