$XRP

XRP Poised for 30% Jump Amid Huge Buying from Whales

The price of XRP has been trading within an ascending triangle pattern, a technical formation that suggests a major explosion is on the horizon. This pattern could push the altcoin’s price up by as much as 28.9%.

Major market players, known as “whales,” have been fueling this potential rally by accumulating large amounts of XRP, indicating confidence in the bullish price action.

Whales Contribute Significantly to Ripple

Whale activity has been on the rise in recent days, with large holders significantly increasing their positions. Specifically, addresses holding between 10 million and 100 million XRP tokens have purchased a total of 200 million XRP, worth over $116 million. These accumulations indicate a growing belief in the asset’s bullish potential.

Increased whale activity is an indicator of market confidence, as these holders tend to buy when they expect a price increase. Their recent purchases suggest that the coming weeks could see Ripple break out of its current pattern, giving momentum to the cryptocurrency and providing significant gains to investors.