Despite a recent dip in price from $2.90 to $2.22, Ripple’s XRP has seen substantial buying activity from whales. This aggressive accumulation highlights the confidence these investors hold in XRP’s future potential. This signals a bullish outlook even amidst market fluctuations.
XRP Whales Buy $288 Million Worth of Ripple
Amid a sharp price drop in XRP, whales have seized the opportunity to ramp up their holdings. Analyst Ali highlighted this movement, revealing that during the dip, these prominent investors bought over 120 million XRP tokens, totaling $288 million.
Such large-scale purchases are not just casual market activities. They represent a strategic investment, suggesting a strong belief in the recovery and future appreciation of XRP.
This behavior indicates a trend where dips are viewed not as losses but as opportunities to buy at a lower price, potentially leading to substantial gains as the market recovers.
XRP Projected to Hit $5
The bullish sentiment around XRP is further fueled by predictions from crypto analysts, including CrediBULL Crypto, who anticipate future gains for the coin.
According to the analyst, XRP has demonstrated substantial outperformance against Ethereum and is poised to continue this trend. The projections suggest an almost doubling in value against Ethereum, potentially pushing XRP’s price above $5 in the near future.
This optimistic forecast is based on technical analysis of the XRP/ETH pairing and current market dynamics, which indicate a strong momentum that could propel XRP to new heights.
CrediBULL Crypto’s analysis points to a 30% short-term price increase, aiming for a breakthrough over $3—a level not seen in over six years.
This anticipated growth aligns with broader market recovery trends and an increasing interest in altcoins.
XRP’s Recent Price Performance
XRP has shown resilience and growth over various timeframes, as shown by recent market data. Over the past hour, XRP has climbed by 1.1%, and it has shown even more substantial gains over longer periods.
In the last 24 hours, the price increased by 4.4%, and over the past week, it surged by 33.2%. The past two weeks have seen an 83.2% increase, while the 30-day and year-to-date metrics highlight gains of 363.3% and 293.4%, respectively.
The quick gains, especially noticeable in the last month, align with the growing institutional interest and general market optimism surrounding altcoins. This sustained upward trajectory has brought XRP closer to its all-time high of $3.40, last reached in January 2018.
