XRP Poised For 'Brief Correction,' But Here's Why It Could Go To $4

Khyathi Dalal

December 12, 2024

With Ripple's regulatory approval to launch its RLUSD stablecoin, anticipation is mounting about the trajectory of XRP (CRYPTO: XRP) prices following the launch.

Cryptocurrency	Price	Market Cap	24-Hour Trend	7-Day Trend
XRP (CRYPTO: XRP)	$2.43	$138.7 billion	+1.2%	+0.8%
Bitcoin (CRYPTO: BTC)	$101,633.16	$2.01 trillion	+1.4%	+0.7%
Ethereum (CRYPTO: ETH)	$3,948.22	$475.6 billion	+4.4%	+1.4%

Trader Notes: Prominent crypto trader Crypto Bitlord sees XRP on the brink of a parabolic move, calling it "financially irresponsible" not to hold XRP at this stage.

Jacob Canfield highlighted that XRP has retraced to the impulse base and the 0.382 Fibonacci zone, a move he sees as aligning with bullish expectations.

Canfield opened a small long position during the recent sell-off and remains optimistic about a push toward higher levels.

CrediBULL Crypto emphasized XRP's strength, noting new local demand zones forming. Retests of these zones could provide strong long-entry opportunities, aligning with his favorable outlook on XRP's price action.

Taking a more cautious view, Ali Martinez, a crypto chart analyst, foresees a brief correction before a breakout above $2.46. Such a move could potentially drive XRP's price to $4. Martinez highlighted a bull flag pattern but cautioned about a TD Sequential sell signal on the 4-hour chart.

$XRP appears to be forming a bull flag! Still, the TD Sequential recently presented a sell signal on the 4-hour chart, which leads me to believe #XRP may see a brief correction before a breakout above $2.46 that could send the price to $4! pic.twitter.com/L8zwMYT1Rb
— Ali (@ali_charts) December 12, 2024

Statistics: Ripple Labs transferred 380 million XRP, worth $915.2 million, to an unknown wallet just hours ahead of the RLUSD launch, according to Whale Alert.

This transfer has sparked speculation about whether it signals an internal reallocation or a possible sell-off before the stablecoin goes live approved by the New York Department of Financial Services (NYDFS).

Community News: Ripple's RLUSD launch is viewed as a milestone, solidifying its position as a key player in the crypto space. This regulatory nod could drive both adoption and XRP's price performance.

Ripple CEO Brad Garlinghouse assured the community that official updates will come directly from Ripple.

Read Next:

Can Bitcoin, Ethereum, Dogecoin, Shiba Inu or Solana Beat XRP In 2025? Poll Says Yes, One Coin Stands Out

Image: Shutterstock

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