XRP Coin has made a strong rise, reaching its highest level in three years. According to the latest data, XRP has increased by more than 268% this month, reaching $1.88. This rise of the altcoin is supported by increasing institutional interest, and current developments reinforce its long-term prospects. So, how long will this rise of XRP continue?
Experts attribute the rise in the price of XRP Coin to increased demand. However, this rise is not only due to the increased interest in altcoins, but also to the improvement in general sentiment towards crypto assets. IntoTheBlock Senior Researcher Juan Pellicer makes the following assessment:
“XRP has shown exceptional price performance over the past two weeks, outperforming many major cryptocurrencies. This rally could continue as a result of XRP’s strategic position in the global crypto payment infrastructure and a trend supported by improved market sentiment following positive regulatory developments in the US. The increasingly constructive approach to crypto has created a favorable environment for XRP’s adoption strategy.”
The XRP market has been marked by whale activity over the past two weeks. Large investors holding between 1 million and 10 million XRP tokens have accumulated a total of $1.12 billion. This large accumulation shows strong investor confidence, especially as XRP approaches $2.00. The whales’ strategy shows that they believe in the long-term potential of XRP and aim to keep the altcoin stable. However, this large accumulation also brings with it concerns about profit-taking. Many market observers believe that whales may start to realize their profits once XRP reaches a significant price level, which could lead to a possible pullback. However, since the altcoin season has not yet fully started, whales are likely to hold their positions and avoid premature sales. This could help XRP Coin continue its rise in the short term.
Crypto analyst Aaryamann Shrivastava shares the following prediction, evaluating the technical outlook for XRP: XRP has gained over 268% this month and is currently trading at $1.88. The altcoin is approaching $2.00, a critical price level that has historically caused major market movements. Reaching this level would indicate market optimism and potential for continued growth. Because $2 is a significant psychological resistance point for XRP. If XRP breaks this level and turns it into support, it could push the price even higher with increased demand. Support at this level could attract more investors and pave the way for a push towards higher prices.
If there is a major correction in the market or whales sell to take profits, XRP could see a pullback. In such a case, the lower support levels will be crucial for the altcoin to continue its uptrend. However, for now, XRP’s price action looks positive and has the potential for further growth in the near term.