XRP holders could get rich, requiring just one catalyst to trigger XRP’s next leg up, according to Oscar Ramos, a crypto market commentator.
XRP has been in the spotlight following a remarkable performance in November 2024. After Donald Trump’s victory in the U.S. presidential election on Nov. 5, XRP surged by 283%, marking its highest monthly close in seven years.
XRP Consolidates After Record-High Surge
This rally carried into December, where XRP reached a seven-year high of $2.90 on Dec. 5 before encountering resistance. The token has since consolidated around $2 as the broader crypto market also corrects.
Market commentator Oscar Ramos believes this consolidation phase is only temporary. According to him, XRP holders are going to get rich, needing just one major catalyst to trigger the next XRP upsurge.
Ramos sees the current dip as an opportunity to accumulate more tokens before the next potential breakout. In a recent video commentary, he highlighted that market activity is subdued during Christmas, with many traders focused on festivities rather than market movements.
This inactivity leads to consolidation but also creates an opportune moment for buyers to acquire XRP at its current price levels. The analyst noted that investors should prepare for a sudden price surge after now.
Potential Catalysts for XRP’s Next Move
According to him, XRP just requires one significant event to catalyze this sudden uptick, pointing to several of such events. First, Ramos called attention to the growing interest in institutional crypto investments as a potential driver.
He cited examples like Michael Saylor, whose firm MicroStrategy recently purchased 5,262 Bitcoin worth $561M, as evidence of institutional confidence in digital assets. Such growing interest could benefit XRP by drawing more attention to the broader crypto market.
Moreover, he noted that the potential approval of an XRP ETF could impact XRP’s price. Several companies, including Bitwise and 21Shared have filed to list the product. Ramos argued that BlackRock could also start exploring this possibility.
He then mentioned the launch of Ripple stablecoin RLUSD as another potential catalyst. The asset brings increased utility and enterprise adoption to the XRP ecosystem. As RLUSD gains traction in the coming months, it could attract more institutional and retail interest.
Current Market Sentiment
Ramos’ optimism also comes from the fact that the global crypto market cap still lingers at $3 trillion, with Bitcoin and Ethereum prices below 100,000 and $4,000, respectively. Recall that Ripple CEO Brad Garlinghouse predicted that the market could hit a valuation of $5 trillion.
Ramos believes $4 trillion is coming, and this valuation would require Bitcoin, Ethereum and other altcoins to reach new all-time highs. The market commentator expects XRP to also benefit from this, surpassing its all-time high of $3.31, achieved in early 2018.
At press time, XRP currently trades for $2.30, down 7.8% in the past week, but up 18% in December.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
