Ripple's XRP is experiencing significant attention due to large-scale whale activity and ongoing legal and regulatory developments. Over 450 million XRP tokens have been accumulated recently, contributing to a price surge that saw XRP exceed $1, marking its highest level since 2021. Speculation about favorable regulatory developments, including potential discussions involving Ripple's CEO Brad Garlinghouse, has added to the bullish sentiment.
Adding to the excitement, Ripple has received approval for U.S. banks and institutions to use XRP for payments, potentially boosting adoption. However, the SEC has appealed Judge Torres' ruling in the Ripple lawsuit, creating uncertainty that could impact market sentiment.
This whale activity and regulatory progress suggest that XRP could experience continued momentum. Analysts have set optimistic price targets ranging from $2 to $13 in the long term, contingent on maintaining key resistance levels and broader market trends.