[Authorities say big things are coming to XRP]
Well-known market commentator Armando Pantoja said that XRP is heading for something big, with on-chain activity data showing significant growth. He pointed out that the recent large accumulation of XRP whales reflects market expectations for price increases.
According to the data, whales accumulated 453.3 million XRP in a week, worth about $526 million, and addresses currently holding 1 million to 10 million XRP control 18% of the circulating supply of XRP. At the same time, the number of addresses holding more than 100,000 XRP reached 51.59 billion, accounting for 85% of the circulating supply, an 11-month high.
This accumulation coincided with XRP breaking above $1 and reaching a three-year high of $1.26. Market analysts are optimistic about XRP’s future price performance. Bobby A predicts that XRP has the potential to reach $3 to $13, and chartered market technical analyst Tony Severino even predicts that XRP will surge by 1,710% to hit $20.
Despite the recent price correction of XRP, which saw a 14% drop, the price is currently stable at $1.105, with a market capitalization of $62.69 billion, still holding on to the critical support level of $1. Analysts believe that this may be a market adjustment stage to prepare for the next round of gains.
