(FOLLOW ME â€ïžđ«¶)
#XRP has taken the crypto market by storm, achieving extraordinary gains in a short span. Currently trading at $2.73, the altcoin has surged over 440% this month and boasts weekly gains of more than 90%. This marks XRP's most significant rally in nearly eight years, sparking optimism and speculation about its future trajectory.
The Current Rally: What Analysts Say
Prominent market analyst Income Sharks highlights that XRP's rally has lasted 4 weeks and 2 days, making it one of its longest streaks. Thereâs growing hope that XRP can continue its bullish momentum for a fifth week.
Crypto analyst CrediBULL Crypto predicts XRP could reach $4.21, an additional 100% surge from its current level. The token, according to him, is progressing well into the third wave of a broader bullish structure. He dismissed claims of the rally topping out, stating, "Weâre just getting warmed up. The ascent is going to be pure mania."
Whale Activity and Accumulation
XRP whales have significantly contributed to the surge, accumulating 160 million XRP worth $380 million over the weekend. Wallets holding 1M-10M XRP have added 679.1M tokensâvalued at $1.66 billionâin just three weeks. The number of non-empty XRP wallets has also reached 5.5 million, a record in its eight-year history.
Ripple and Escrow Dynamics
Ripple recently unlocked 1 billion XRP, but contrary to "dumping" claims, the company locked 770 million XRP for another five years. Analysts, including CrediBULL Crypto, dismiss concerns about Ripple's impact on market liquidity, calling the "dumping" narrative outdated.
Outlook Ahead
With daily trading volume up 54% to $4 billion and bullish sentiment rising, the XRP rally shows no signs of slowing. Open interest is also up 4% to $4.35 billion, reflecting increased trader confidence.
Key Takeaway: XRP's remarkable momentum could push the price beyond previous highs, but traders should watch for signs of potential corrections after such explosive growth. For now, the excitement continues!
