After reaching a high of $2.82 on December 3 last year, Ripple’s XRP rate has slightly corrected and is currently trading between $2.25 and $2.50, according to CoinMarketCap data. On December 1 last year, the price of XRP briefly dropped below $2.00 and has been consolidating above this level for several days.

Like most digital assets in recent days, XRP is subject to extreme market volatility. However, for Vincent Van Code, a software engineer, the Ripple altcoin could reach $5 in these market conditions.

Van Code’s comments come as the broader cryptocurrency market experiences a significant downturn, fueled by erratic price movements for Bitcoin, which briefly breached the $100,000 mark. dollars. The world’s largest asset briefly hit $104,088 on Thursday, but immediately suffered a “flash crash” and fell to $90,500.

At the time of writing, Bitcoin has regained strength and is trading above 98,000. dollars.

#XRP it’s not dumping, it’s a matter of the entire market. Triggered by #BTC dump.

The fundamentals are very forceful for XRP, if you are an holder, my gut tells me it will hit $5 by February 2025. It’s all just noise.

Not financial advice. I am not qualified to give any advice. pic.twitter.com/33dtboWwRl

— Vincent Van Code (@vincent_vancode) December 5, 2024

Growing market concerns about Bitcoin and cryptocurrencies?

Bitcoin’s sudden crash was felt across the cryptocurrency market, spooking many retailers and investors. While the decline has significantly impacted the larger cryptocurrency market, the loss among top altcoins is not as gigantic as that of Bitcoin.

Ripple’s XRP is one of the tokens that saw the biggest decline during Bitcoin’s tiny crash. The price of XRP dropped from a high of $2.48 to $2.23, reflecting a 10% loss. Traditionally, altcoins often experience massive price drops whenever Bitcoin corrects in price.

The current price corrections are just “noise” for long-term holders

Market observers, including Van Code, assessed the situation, emphasizing XRP’s resilience to the Bitcoin crisis. He attributed this result to the coin’s forceful fundamentals, stressing that they remain solid despite market turmoil.

Van Code analyzed the situation and shared his optimism about XRP and expects the token’s value to reach $5 by February 2025.

According to the commentator, the current price corrections are just “noise” that can be ignored if you are using XRP for the long term. The Ripple token moved in a range pattern for four days after temporarily reaching $2.85. Since then, XRP’s momentum has slowed, causing the price to return to the $2.10 level.

XRP holders and traders are preparing for the next round

XRP holders maintain their optimism and are looking for further factors that will push the asset to once again reach its highest level in history and enter price discovery mode.

At $2.36, Ripple’s XRP price needs to boost by at least 112% to reach $5. Interestingly, XRP has more than quadrupled in the last month, keeping the hopes of holders and investors alive.

#XRPholders🚨 Get ready #XRP It will soon reach a up-to-date all-time high of $3.50. #XRP Printed bull flag pattern 👀 pic.twitter.com/UyiMuGO6s3

— XRP CAPTAIN (@UniverseTwenty) December 5, 2024

Some analysts are also pointing out various bullish patterns for XRP on the charts. In one post on Twitter/X, user “XRP Captain” urged token holders to prepare for an imminent breakout. He claimed that the coin is poised to hit an all-time high, as suggested by the bull flag on the charts.

Featured image from Forbes, chart from TradingView