Bitcoin analysts expect the price of XRP to rise. The significant impact of large investor movements on the market increases interest in XRP. Positive estimates from different analysts reinforce this expectation. Crypto analyst Dark Defender predicted that XRP could reach $ 5 this year. This estimate is supported by the high movement of large investors in the XRP market. According to Whale Alert data, an unknown wallet transferred 300 million XRP (about $ 649.8 million) to Ripple. Another wallet also sent 30 million XRP to the Bithumb exchange. Such large transactions can significantly affect market dynamics.
Dark Defender noted that the Fibonacci target levels remained the same and XRP’s first target is $5.85. He also stated that XRP has completed its correction move on the weekly time frame.
Market Expectations and Future Forecasts
“I expect the XRP price to break above the triangle level I marked on the charts within a week,” Dark Defender said.
Other analysts have different predictions about XRP’s price movements. CasiTrades predicts that XRP could recover after falling to $2.60. Mikybull Crypto, on the other hand, says that XRP has a strong price chart and expects double-digit price increases. Egrag Crypto, on the other hand, says that XRP has the potential to rise to $27 in this market cycle, referring to the parabolic rise experienced in the 2017 bull market.
XRP transfers from large investors usually have a positive impact on the market. However, large transfers to the Bithumb exchange indicate that some investors may want to take profits. This could lead to selling pressure in the short term.
XRP’s price movements will continue to be shaped by the behavior of major investors and general market trends. Positive analyst predictions could increase investment interest in XRP.
These developments in the XRP market are among the dynamics that crypto investors should follow carefully. Major transfers and analyst estimates offer important clues that can shape investment decisions.