XRP Price Prediction for December 2, 2024, Amid $256M of Inflow

XRP, the native token of Ripple, has achieved a significant milestone by crossing the $2 level for the second time since Jan 2018. With its impressive performance, it seems likely that the bulls will carry this rally until it reaches the $3 mark.

Will the XRP Price Rally Continue?

Following XRP's latest achievement, participation from whales and investors has skyrocketed and is raising one common question – Will this rally continue, or is there a chance of a price correction in the coming days?

$256M of XRP Inflow, Sell-off Incoming?

This substantial inflow suggests that whales and institutions have transferred their holdings to exchanges. In the cryptocurrency landscape, such inflows typically indicate a potential sell-off and an impending price decline.

Traders Strong Bet on Long Side

In addition to whale participation, traders appear more optimistic, strongly betting on long positions, as indicated by Coinglass. At press time, the XRP Long/Short ratio on the four-hour timeframe stands at 1.98, indicating a strong bullish sentiment among traders.

Currently, 66.5% of top traders across exchanges hold long positions, while 33.5% hold short positions. This data indicates that, in the short term, bulls are dominating the altcoin, which could support XRP in continuing its rally toward $3.

XRP Technical Analysis and Upcoming Level

XRP Price Prediction 

According to CoinPedia’s technical analysis, XRP has broken through the highly anticipated resistance level of $2. Following this breakout, there is a strong possibility that it could soar to $3.15 in the coming days. However, the price could experience a minor correction or a breakout retest before the rally continues toward the $3 mark.

Currently, XRP is trading near $2.17 and has registered a price gain of over 15% in the past 24 hours. During the same period, its trading volume decreased by 14%, indicating lower participation from traders and investors compared to previous days.