Ripple price prediction: Is $5 within reach?

Will Ripple’s record-breaking rally push XRP to new highs, or is this just a temporary boost from regulatory rumors and whale activity?

XRP’s record-breaking rally

Ripple (XRP) is attracting attention this week and making headlines with its extraordinary price increase. As of November 16, XRP crossed the $1 milestone for the first time since November 2021 and is currently trading at $1.19.

XRP 6-month price chart | Source: TradingView

This marks a stunning 30% increase in the last 24 hours and an incredible 108% increase in the last seven days, cementing its position as one of the best-performing cryptocurrencies since Donald Trump won the US presidential election.

Speculation about a possible change in US regulatory leadership has added to the excitement. Reports suggest the possibility of SEC Chairman Gary Gensler resigning, sparking hopes of a more favorable regulatory environment for crypto assets.

Let’s examine the factors driving this rally, unpack the developments surrounding Ripple, and take a closer look at what these movements could mean for the price of XRP in the near future.

Gensler’s exit rumors

Rumors swirling about the potential departure of SEC Chairman Gary Gensler have brought a new wave of optimism to the crypto market, with Ripple’s XRP emerging as the clear beneficiary.

Although Gensler did not publicly announce his resignation, his final speech at the Practicing Law Institute’s annual securities regulatory conference struck a tone that many interpreted as a possible farewell.

Calling his tenure at the SEC “an honor,” Gensler reiterated his stance that most cryptocurrencies other than Bitcoin (BTC) fall within the SEC’s regulatory authority.

For Ripple, Gensler’s time in the SEC was filled with challenges. Ripple Labs and the SEC have been locked in a legal stalemate since December 2020, when the agency accused the company of selling XRP as an unregistered security.

A partial victory for Ripple came in July 2023, when a court ruled that certain XRP sales did not qualify as securities transactions. But the SEC’s pursuit of Ripple did not end there.

In August 2024, the war took another turn. The SEC was ordered to settle for a $125 million fine against Ripple, only a small fraction of the $2 billion it originally requested.

Despite this apparent setback, the SEC appealed, claiming the district court’s decision “contradicts decades of Supreme Court precedent,” suggesting that this regulatory conflict is far from over.

Just hours before the SEC appeal, crypto asset manager Bitwise filed for its first spot XRP ETF. However, given the SEC’s ongoing resistance to Ripple, the possibility of approval remains uncertain.

The pressure on Gensler and the SEC continues to mount on many fronts. 18 US states, including Texas, Ohio and Wyoming, recently filed lawsuits against the agency, accusing it of “government overreach” in its approach to crypto regulations.

The case highlights concerns that the SEC’s enforcement-centric strategies overstep federal authority and undermine state jurisdictions, creating unnecessary legal challenges for crypto firms.

Industry groups such as the Blockchain Association have reported that SEC enforcement actions have cost crypto companies an estimated $426 million in lawsuits since 2021.

Whales are investing heavily in XRP

Ripple CEO Brad Garlinghouse recently fueled the debate about the future of cryptocurrency in the US, tying political changes, regulatory uncertainty and industry dynamics into a hopeful vision for the industry.

During Cantor’s annual Crypto Conference, Garlinghouse expressed optimism about the United States becoming the global “crypto capital” under new political leadership.

attended @Official_Cantor‘s annual Crypto Conference today – It’s safe to say that the US is ready to become the crypto capital of the world with the next Trump Administration. Also a decent shirt to wear.. What could be Gary Gensler’s last days at the office?! pic.twitter.com/VuusYnXrHr

— Brad Garlinghouse (@bgarlinghouse) November 14, 2024

He even hinted that these could be “Gary Gensler’s last days in office,” signaling a hopeful departure from the sanctions-heavy approach that Ripple has struggled with for years.

In the midst of these political maneuvers, another chain story emerges. XRP whales (crypto jargon for wallets holding at least one million XRP) have been steadily accumulating.

Data from Santiment reveals that these large holders added 3.44 billion XRP to their wallets in the last two years.

🐳 Wallets with at least 1 million XRP now hold a total of 45.61 billion tokens; This is the highest amount since June 2018. Over the past 2 years, whales and sharks have reversed course and accumulated another 3.44 billion XRP, up +8.16%. Investors gained +40% returns in the last 7 days. pic.twitter.com/nzYNU3CJyW

— Santiment (@santimentfeed) November 14, 2024

In total, they currently hold 45.61 billion XRP, the largest total since June 2018. This is especially important because 2018 was the year XRP reached its all-time high of $3.84.

This type of accumulation of whales is often indicative of confidence in the long-term value of the asset. This also coincides with Ripple’s partial legal victory against the SEC earlier this year, which gave the market a morale boost.

Ripple price prediction

While Ripple’s legal battle with the SEC shows signs of potential unwinding and XRP experiences an increase in whale activity, data and expert predictions show the following for the coming years.

Ripple Price Prediction 2024

Technical analysts such as XForceGlobal are quite bullish on XRP, pointing to a confirmed bullishness in Ripple’s price action.

According to their analysis, the token broke key resistance levels, including the D wave of the triangle pattern. While the timeline remains unclear, they estimate there is a “99.99% chance” of XRP eventually reaching $5.

$XRP#FluctuationThe triangle breakout of is OFFICIALLY broken, including piercing not only the BD trend line but also the D wave.

We have a 99.99% chance of eventually reaching $5.

— XForceGlobal (@XForceGlobal) 16 November 2024

Offering a more conservative short-term outlook, Coincodex predicts that the price of XRP could reach around $1.13 by December 16.

Meanwhile, DigitalCoinPrice expects the token to trade between $1.03 and $2.50 by the end of 2024, with an average price of $2.42.

Ripple Price Prediction 2025

Looking at 2025, Coincodex predicts that the token could range between $0.69 and $3.09, with an average price of $1.66. DigitalCoinPrice is more optimistic, predicting a price range between $2.46 and $2.96, with the average price being $2.80.

Ripple Price Prediction 2030

By 2030, the outlook for XRP becomes quite optimistic. DigitalCoinPrice predicts that the token could range between $7.72 and $8.56, with an average price of $8.42. Coincodex offers a more conservative estimate, with XRP trading between $1.23 and $2.88, with an average of $1.80.

The road ahead

Although predictions vary widely, factors such as Ripple’s expanding use cases, growing interest from whales and institutional players, and resolution of regulatory challenges could play critical roles in shaping XRP’s future path.

As always, it is important to approach these predictions with caution. The crypto market is notoriously volatile, and prices are affected by a mix of technical, regulatory and macroeconomic factors.

Investors should do thorough research and avoid investing more than they can afford to lose.