Ripple’s XRP has garnered billions of views under the #XRP hashtag in November and December, with some influencers predicting a price reach of $10,000 due to retail investors’ fear of missing out (FOMO) and FUD triggers. The coin briefly claimed third place among cryptocurrencies after a 400% price rally over the past month.
Whale holders accumulated over $1.12 billion worth of XRP, but retail investors are driving the value up. Crypto has become Gen Z’s most common investment, according to a survey that revealed crypto as the top choice for the first time ever. Social media platforms have emerged as a major factor influencing trading behavior, with 85% of respondents reporting significant portfolio impacts from emotional trades.
Influencers and social media platforms like TikTok are fueling the surge in XRP’s value. The platform’s algorithm amplifies viral trends, creating a sense of urgency among retail investors. Analysts predict that XRP could surpass its all-time high in 2017 by 2025. As Gen Z continues to accumulate wealth, TikTok’s influence will likely shape new crypto investment trends.
The surge in XRP is driven not only by whales but also by the growing presence of retail investors on social media platforms. The appeal of quick, viral success and the notion that cheaper assets grow faster are contributing factors. While traditional stock market experiences like the GameStop surge demonstrate the power of large numbers of retail investors, the impact of social media-driven FOMO will be a key factor in shaping XRP’s future value.
Source: https://www.forbes.com/sites/digital-assets/2024/12/06/tiktok-and-gen-z-fuel-xrps-rise-amid-legal-optimism-and-whale-moves