XRP Price Poised for Breakout? Analysts Predict Bullish Future, Whale Movements Spark Optimism
XRP, the native token of the Ripple network, is showing signs of life after a year-long slump. Recent technical analysis suggests a potential price surge, fueled by optimistic analyst predictions and intriguing whale activity.
Ripple Announces XRPL Japan and Korea Fund
To accelerate development on the XRP Ledger in Asia, Ripple launched a multi-million dollar fund specifically for the Japanese and Korean markets. The fund will support promising projects, partnerships with major companies, startup investment, and educational initiatives to foster XRP Ledger adoption.
This dedicated fund underscores Ripple’s belief in the potential of these key blockchain hubs and their XRP Ledger communities.
XRP/USD Technical Indicators Flash Bullish Signals
- Breaking the downtrend: XRP recently broke out of a week-long downtrend, experiencing a 1.6% rise in 24 hours. Its price currently hovers around $0.50.
- Targets on the horizon: According to analyst Egrag Crypto, the initial target for XRP is $0.75, followed by a potential breakout of the “White Triangle” pattern.
- Mid-double digits a possibility?: A weekly close above the Fibonacci 1.618 zone ($6.5-$7.5) could propel XRP towards mid-double digit prices, suggesting a strong bull run.
XRP Price Prediction by Analyst Fuels Optimism
Egrag Crypto predicts XRP will reach $7.5 in the near future, with a possibility of surpassing $1.50 after breaking the White Triangle pattern. Analyst Chad Steingraber takes a bolder stance, predicting XRP could reach $250 by the end of the 2025 bull run.
Many analysts, like Steingraber and JackTheRippler, believe the ongoing SEC lawsuit is suppressing XRP’s price. However, they anticipate a significant price surge once the lawsuit is resolved.
Whale Activity Ignites Speculation
Large XRP outflows from Binance, a major cryptocurrency exchange, were observed in the past 24 hours. Investors often withdraw assets from exchanges for long-term holding, suggesting potential bullish sentiment among whales.
While two significant outflows are positive signs, a single large inflow dampens the overall effect. However, the net outflow still indicates a preference for holding XRP outside exchanges.
