Analyst Anticipates XRP Surge of 1,135% Amidst Whale Transactions Totaling $71.39M

Author : Elisabeth Louise | Published On : 09 Jan 2024

Ripple's XRP has garnered attention in the cryptocurrency community as a significant price decline aligns with two substantial transactions totaling 126.7 million XRP, valued at $71.39 million. These transactions occurred within the last 24 hours, involving transfers between unknown wallets and a cryptocurrency exchange (CEX), specifically Bitstamp.

While XRP's current value stands at $0.5589, reflecting a 1.60% decrease in the last 24 hours, an 8.55% drop over the week, and a 13.47% decline for the month, analyst Ben Armstrong remains optimistic. In a YouTube video, Armstrong predicts an impressive 1,135% surge for XRP, reaching $7 during the upcoming bull market. He emphasizes XRP's growth potential, attributing it to Ripple's impending initial public offering (IPO) and the potential launch of an Ethereum exchange-traded fund (ETF).

Armstrong underscores the contrast between XRP and Solana, foreseeing a substantial 952% surge in Solana's value, projecting it to reach $1,000 by 2024. As of the latest update, Solana's current valuation is $90.51, indicating a 3.89% decrease in the last 24 hours.

Armstrong suggests that XRP's rise to $7 is pre-programmed, aligning with Ripple's IPO and the anticipated positive sentiment surrounding it. Additionally, he speculates that the introduction of an Ethereum ETF could further support XRP's bullish case, positioning it as a promising cryptocurrency with regulatory certainty in the United States.