The XRP price surge is single-handedly contributing to the crypto market gains with another 12.25% surge in the last 24 hours, to $2.73. Thus, the altcoin has extended its weekly gains to more than 90% and monthly gains to more than 440%. The next question in investors’ minds is whether or not this price rally can continue ahead from here.
How Long Will the XRP Price Rally Continue?
With 440% in the month, this has been one of the longest XRP price rallies in nearly eight years. Prominent market analyst Income Sharks noted that the current streak has lasted for 4 weeks and 2 days, with growing optimism that XRP could continue this bullish trend for a fifth consecutive week. “Maybe this time we can make it to 5 weeks before the red candle comes,” the analyst remarked.
Popular crypto analyst CrediBULL Crypto believes that XRP rally can extend with another 100% gains moving all the way to $4.21. He shared an optimistic outlook for XRP, asserting that the token is in the midst of a significant upward movement. According to CrediBULL, XRP appears to be advancing well into its third subwave of a larger bullish structure.
The second subwave was short and sweet, while the first subwave of the larger third subwave looks complete,” the analyst noted, highlighting that two more waves within this third subwave could drive XRP to surpass its all-time high (ATH).
Furthermore, the analyst also dismissed the notion of several people calling it the top for XRP. “In my opinion, we’re just getting warmed up. The ascent is going to be pure mania,” the analyst noted.
XRP Whale Activity on the Rise
The XRP price rally extended as the XRP whales purchased a staggering 160 million XRP, worth $380 million, during the last weekend.
XRP has reached its highest levels in nearly seven years, fueled by significant accumulation from wallets holding 1M-10M XRP. Over the past three weeks, these wallets have added 679.1M XRP, valued at approximately $1.66 billion.
Additionally, the total number of non-empty XRP wallets has surpassed 5.5 million for the first time in the coin’s eight-year history, reported blockchain analytics platform Santiment.
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