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- XRP gains traction through whale support, outperforming BTC and ETH with resilience amid market turbulence.
- Ethereum’s strategic whale trading aids recovery, but XRP’s fundamentals and unique initiatives give it a competitive edge.
The cryptocurrency market faced turbulence as the Federal Reserve implemented its third interest rate cut of 2024, fueling a sell-off that dragged Bitcoin below the $100K mark. Ripple’s XRP, however, outperformed BTC. According to a recent CNF update, bullish momentum could push XRP to its $30 technical target.
Amid the chaos, XRP demonstrated resilience, supported by recent gains and strategic whale activity. Ripple’s token, currently priced at $2.30, saw consecutive 15% daily gains earlier in December, reaching levels not seen in three years.
Both XRP and ETH are now racing to surpass critical resistance levels—$3 for XRP and $4K for ETH—competing for dominance in a market defined by uncertainty. According to CoinMarketCap data, XRP is currently trading at $2.32, down 1.43% over the past day and 1.11% in the past week. See XRP price chart below.
Whale Strategies Favor Ethereum, but XRP Stands Out
Ethereum’s whales have consistently leveraged market dips, accumulating ETH and selling near resistance points like $4K. Recent data revealed 105K ETH sold at resistance, causing a slight price decline while showcasing ETH’s ability to rebound swiftly.
A smart whale (likely related to #LonglingCapital) bought 6,000 $ETH after the price drop.
This whale is skilled at buying $ETH at low prices and selling at highs, with a total profit of $83M.
Since May 8, 2023, this whale bought 75,400 $ETH($180.4M) at an average price of… pic.twitter.com/OK0OS9U4ou
— Lookonchain (@lookonchain) December 19, 2024
Meanwhile, XRP’s fundamentals—backed by whale interest, SEC developments, and the RLUSD stablecoin initiative—offer a unique edge. XRP’s potential to establish itself as a distinct asset class by 2025 could attract investor confidence amid Bitcoin’s ongoing volatility.
Bitcoin’s drop below $100K created opportunities for altcoins to capture market attention. While whales are accumulating BTC, retail participation remains subdued. In a related CNF news, Trump’s crypto tax proposal suggests coins like BTC, ADA, and XRP could become tax-free, potentially influencing future market dynamics.
Nevertheless, XRP and ETH stand as strong contenders, with XRP leveraging historical performance and whale support to carve out a competitive edge.