By Michael Scott
Crypto market commentator Oscar Ramos boldly claims XRP holders require a single catalyst to witness a parabolic run.
The XRP features among the assets that staged impressive gains in Q4, primarily tied to its explosive price action in November 2024. The gains are attributable to the positive investor sentiment following Donald Trump’s victory as perceived as a pro-crypto candidate. As such, XRP rallied 283% to mark the highest in seven years.
XRP Dips After Record-High Rally
The XRP extended the post-election gains into December, when the altcoin breezed past the 2021 peak of $1.96, setting a seven-year high at $2.90. The charts show it encountered resistance, leaving XRP consolidating around the lower $2 price range as the crypto market corrected.
Market analyst Oscar Ramos considers the ongoing consolidation phase temporary, with XRP holders bound for massive returns and needing a single catalyst for the next upsurge.
Ramos views the ongoing dip as a buying opportunity, allowing the XRP holders to accumulate more tokens as a potential breakout looms. His video commentary highlights that XRP witnessed subdued market activity during Christmas. The analyst opines that many traders were preoccupied with the festivities and barely tracked the market movements.
Ramos adds that the prevailing inactivity translates to consolidation, an opportune moment where buyers can add XRP at the present price levels. Ultimately, the analyst urges investors to prepare for the sudden uptrend.
Catalysts for XRP’s Breakout
Ramos illustrates that XRP could print a sudden uptick from a single event from several such catalysts. Ramos draws attention to institutional crypto investments as the primary driver.
Citing Michael Saylor’s case that recently acquired 5,262 Bitcoin valued at $561 million to illustrate the institutional confidence in crypto assets. The growing interest in this altcoin could improve liquidity as more investors embrace XRP.
Ramos adds that the potential approval of XRP exchange-traded fund (ETF) could propel this altcoin price to higher limits. He echoes Ben “BitBoy” Armstrong’s bold prediction on Dec. 13 for an imminent XRP ETF launch. The analyst observes that several companies submitted their bids, including 21Shares, Bitwise, Wisdom Tree and Canary Capital, with BlackRock likely to explore the possibility.
Ramos adds that the Ripple stablecoin RLUSD could drive the XRP prices higher, particularly as it scales this altcoin utility. As RLUSD gains traction in Q1 2025, the XRP ecosystem will witness increased enterprise adoption alongside institutional and retail participation.
Is Current Market Sentiment Positive?
Ramos’ bold outlook emerges from the awareness that the global crypto market value hovers around $3 trillion, particularly with Ethereum and Bitcoin still below $4,000 and $100,000, respectively.
The analyst reflects on the prediction by Ripple chief executive Brand Garlinghouse that the digital assets market could hit a $5 trillion value. Ramos indicates that a $4 trillion value is in sight, which is a figure that would require BTC, ETH, and altcoins to reach new highs.
The crypto pundit anticipates XRP will leverage this elevation to surpass its 2018 peak of $3.31.
Crucial XRP Levels to Watch
Crypto analyst Egrag Crypto emphasises that the XRP reaction to a pair of price levels would suggest its next move. He notes that XRP will likely sustain the range-bound trend until it breaches upper or lower boundaries.
The seasoned chartist points out that XRP is within the micro range and maintains the $2-$2.90 price band until the next breakout.
Egrag Crypto asserts that breaking below $2 would usher lower prices for XRP and likely plunge to $1.64 and $1.37 targets.
In contrast, Egrag considers a push above the $2.65 level would trigger a bullish breakout. Such an outcome could spur further elevation to $3 and $5 price levels.