- XRP whales purchased 1 billion tokens, signaling strong market confidence.
- Ripple ETF approval hopes drive optimism amid regulatory and institutional interest.
- Bullish technical patterns suggest potential price targets of $2.90 and $3.
XRP whales have shaken the market by purchasing 1 billion tokens in 48 hours. This bold move happened while major cryptocurrencies like Solana and Polkadot suffered double-digit losses. Investors often view whale activity as a sign of confidence, as these big players rarely act without reason.
Whales Show Confidence in XRP
Whales often lead the way in the cryptocurrency market. Their large purchases spark optimism and influence smaller investors. Ali Martinez, a respected crypto analyst, highlighted data showing a massive whale accumulation of XRP. These strategic moves often indicate long-term confidence in a cryptocurrency’s potential. Optimism about Ripple ETFs has also added fuel to the fire.
Polymarket traders expect the SEC to approve a spot XRP ETF by 2025. One poll puts the odds at 68%, while another predicts a 51% chance by July. Approval could bring institutional investors into the XRP ecosystem, as seen with Bitcoin ETFs, which have attracted billions of dollars in assets.
XRP Charts Point to a Bullish Breakout
Donald Trump’s recent election win has further boosted market sentiment. Trump’s pro-crypto stance includes plans to create an AI and blockchain council. His nomination of Paul Atkins as the new SEC chair has also strengthened hopes for a Ripple-friendly regulatory environment.
XRP’s price charts reveal a promising outlook. The daily chart shows a bullish pennant pattern forming near $0.49. Traders often see this pattern as a precursor to significant upward moves. Prices have also stayed above the 50-day moving average, signaling strong support.
Analysts predict key price targets at $2.90 and $3, guided by the Murrey Math Lines. The MVRV ratio, now at 2.5, suggests XRP remains undervalued. These technical factors, combined with whale buying and regulatory optimism, paint a compelling picture for XRP’s future.
