XRP Whale Moves $95M – Is $4 Next?
A significant transaction involving 30 million XRP, valued at approximately $95.5 million, occurred from the South Korean exchange Upbit to an unknown wallet.
This is causing people to speculate on a price pump to $4 and even $15. Traders and investors are paying attention as XRP is showing bullish signs. After a recent breakout from a bullish pattern, everyone is watching to see what happens next.
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XRP Breaks Out of Bullish Flag Pattern
XRP is in a bullish flag pattern. This means it could go up more. The pattern is a flag after a big up move (flagpole), then a consolidation (flag). When the flag ends, it usually means another up move.
According to crypto analyst Ali Martinez, the breakout from this pattern could take XRP to $4. This is a big level as XRP just broke $3 for the first time since 2018 and reached $3.40 before pulling back to $3.16.
Key Resistance Level: $3.40
Support Level: $2.91
Bullish Target: $4
Should XRP break through the $3.40 resistance again, analysts anticipate a continuation of the bullish trend. However, if the price falls below $2.91, XRP could test the $2.59 support level, potentially halting the rally.
Long-Term Outlook: XRP’s Path to $15
On a bigger scale, XRP is out of a symmetrical triangle pattern since the all time high of $3.80 in December 2017. This breakout has been confirmed by the rally since November 2024 and analysts expect more price up. Ali Martinez has a price target of $15 for XRP.
Despite the doubts, especially with XRP’s market cap at $15, Martinez defends his target by saying XRP already has a bigger market cap than BlackRock. He also mentions that XRP already has a market cap higher than many other cryptocurrencies.
Short-Term Target: $4
Long-Term Target: $15
ETF Approval and Growing Investor Optimism
XRP’s outlook is getting stronger with the potential approval of XRP ETFs in the US. After Ripple won the case against the SEC in 2024, investor sentiment is rising. A crypto friendly SEC chairman and the approval of XRP ETFs in the future could propel the price up.
XRP volume is also up as retail and institutional investors are getting in. XRP has already gone up 560% since November 2024 and its market cap has doubled.
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