• XRP has a ‘FOMO’ target at $6.60 by 2025, according to an independent crypto trader and mentor Jacob Canfield
• XRP wallets holding between 1 million and 10 million XRP accumulated 6.79 billion tokens worth $1.6 billion in the past three weeks
• XRP’s open interest reached a new all-time high of $3.99 billion on December 2, increasing by almost 100% since November 28
XRP has seen strong gains recently, exceeding many expectations. An independent crypto analyst believes the rally could continue, with XRP potentially hitting $6.60 by 2025.
Recent XRP Price Action
XRP registered a 29.7% gain in November 2022, its highest monthly return on investment (ROI) since December 2017. The monthly close of $0.195 represents a seven-year high and a break above its 2021 peak.
XRP has continued surging over the past 24 hours, gaining another 20%.
Setting a Bullish 2025 Price Target
With XRP outperforming the market lately, independent crypto trader Jacob Canfield believes XRP could rise another 100% from its previous all-time high of $3.40.
Using Fibonacci extensions and comparing XRP’s performance relative to BTC during its last bull run, Canfield notes BTC is currently 5x higher than its 2017 price when XRP reached its peak. This suggests a potential XRP price around $6.60 by 2025, exactly 2x its prior high. Canfield believes this is a logical target for FOMO to kick in.
Tony Edward of the Thinking Crypto podcast has also set a $5-8 target for XRP by 2025. However, he advocates taking profits conservatively.
According to crypto educator Neel, XRP’s rise indicates new retail money is entering the market and investing in popular mainstream assets like XRP.
Accumulation Picks Up
Along with the price gains, XRP’s on-chain activity looks bullish. Santiment data shows wallets holding 1-10 million XRP have accumulated $1.6 billion worth of tokens in the past three weeks.
Additionally, XRP’s futures market has seen open interest hit an all-time high of $3.9 billion on Dec. 2nd, nearly doubling since Nov. 28th. Rising spot accumulation, futures activity, and trading volumes signal renewed interest in XRP.
If XRP can close above $0.199 by the end of 2022, it will be the highest yearly close in its history. The bullish momentum combined with little resistance on the higher timeframes suggest XRP may have room to run.
