TL;DR
- XRP whales have acquired over 250 million tokens, driving a 200% rally in its price.
- The futures market reached a record $2.5 billion in open interest.
- Short-term and long-term projections place XRP’s price at $2 and up to $20.
The XRP market has seen a significant increase in activity from its largest investors, known as “whales,” who have been acquiring large amounts of tokens in recent weeks.
According to data,, over 250 million XRP were purchased during a recent market dip, leading to an impressive rally for the cryptocurrency, with a 200% increase in its value in just one month. This strengthens expectations that the cryptocurrency could experience a strong price surge in the near future.
Breaking Records
Furthermore, major movements continue to be observed by specialized platforms. Whale Alert, for instance, detected a transfer of 149 million XRP, worth approximately $227 million, from the Bybit platform to a private wallet. Other transactions include the purchase of 20 million tokens from the South Korean exchange Upbit.
On the other hand, the XRP futures market is also showing unprecedented activity. Open interest in futures contracts has surpassed $2.5 billion, a record high. Trading platforms such as Binance and Bybit have seen a significant increase in XRP futures trading volume.
Technical Analysis of Ripple (XRP)
From a technical perspective, predictions remain optimistic. Some analysts are setting a short-term price target of $2 for XRP, with longer-term projections pointing to a possible rise to $20. This forecast is based on the impressive rally seen in recent weeks, along with technical indicators suggesting strong upward momentum. The RSI remains above 70%, and the recovery in its pair with Bitcoin signals that the cryptocurrency may outperform BTC in the coming months.
Additionally, news about the potential departure of Gary Gensler, the SEC chairman, in January 2025 has fueled even more optimism in the market. This has led to expectations that XRP may access new markets through an initial public offering (IPO) and the creation of an exchange-traded fund (ETF), making the cryptocurrency even more accessible to investors
