XRP showed significant growth in November 2024, with a 400% price increase, becoming the third-largest cryptocurrency. This success is accompanied by positive developments around Ripple and XRP, such as discussions of potential ETF launches, stablecoin attachment, and IPOs.
XRP Price Increase and Investor Activity
Recent data from Santiment shows that wallets holding between 1 million and 10 million XRP coins bought over 679 million tokens in three weeks. The number of wallets holding XRP has reached a new record of over 5.5 million. These facts indicate the steady confidence of major investors in XRP's long-term potential.
Experts' Opinions on the Current Situation
Prominent investor Dan Tapiero pointed out that the 400% surge in XRP value is not a coincidence but rather a reflection of strong fundamentals. Raoul Pal, CEO of Real Vision, who was previously skeptical about XRP, has now revised his opinion, acknowledging its significant growth. Pal describes XRP's current phase as the 'Banana Zone,' indicating explosive growth.
Legal Victories and the Future of XRP
Tapiero noted that XRP's rise is related to Ripple's successful legal battles, including a court ruling that XRP is not a security. This decision and SEC fine reduction boosted investor trust. An additional positive factor for XRP will be the anticipated approval of the RLUSD stablecoin. With prices maintaining above $2, investors anticipate further success, possibly reaching up to $5.
XRP's growth in November 2024 resulted from successful legal steps and strengthened investor confidence. XRP may see further value increases in the future, drawing interest from both existing and new investors.
