XRP’s trajectory is once again under the spotlight as the crypto eyes a potential ATH. Besides, Ripple whales have lately been engaging in a massive accumulation spree.
Moreover, technical indicators hint at bullish momentum. Recent developments and updates from analysts and fresh data from CoinGecko paint a compelling picture for what lies ahead.
Ripple Whales Accumulate 453.3 Million XRP Tokens
Ripple whales have made bold moves in the past week, purchasing 453.3 million XRP tokens, equivalent to $526 million. This accumulation marks the largest activity of its kind in nearly three years.
Analyst Armando Pantoja highlighted this buying spree, suggesting whales are preparing for “something big.” The renewed interest comes as XRP climbs back into the limelight following its price rally lately.
$XRP whales quietly bought 453.3M tokens, $526M in a week—18% of the supply.The most accumulation by whales in almost 3 years. They know what most refuse to accept…something big is coming #XRP pic.twitter.com/bLrGMrd6fc
— Armando Pantoja (@_TallGuyTycoon) November 18, 2024
This surge in whale activity demonstrates increasing confidence in XRP’s future potential. Besides, such large-scale accumulation is often regarded as a precursor to major price movements, adding to the growing anticipation of a new ATH.
XRP/BTC Chart Breakthrough Signals Bullish Momentum
Technical analysis shared by EGRAG CRYPTO highlights the strength of XRP’s performance against Bitcoin (BTC).
On the XRP/BTC trading pair, the price recently closed above the “Atlantic & Pacific Line,” a key resistance level, turning it into support. This milestone is seen as a critical step toward sustained bullish momentum.
EGRAG CRYPTO emphasized that the next resistance zone lies between 0.0000344 and 0.0000443.
Source: EgragCrypto
A breakout above this range could potentially lead to XRP/BTC reaching its cycle target of 0.00013. Such a move would not only cement XRP’s dominance in the current market cycle but also signify a pivotal shift in its valuation.
Read also: Cardano (ADA) Price Could Rally to $6: Here’s Why
Community Sentiment Fuels Optimism
The XRP community, known for its unwavering optimism, is abuzz with predictions of a new ATH. Influential analyst Dark Defender reminded followers of XRP’s past ability to defy doubts.
He recalled how the token surged to $1.99 despite skepticism about breaking $0.33. Similarly, its recent climb to $1.26 from $0.66 reinforces his view that XRP could surpass its ATH of $3.84 with “outstanding pace.”
People did not believe XRP could break 33 cents,but he did, by touching $1.99People did not believe XRPcould break 66 cents this timebut he did, by touching $1.26Some people are still in doubt and do not believe XRP to break ATH.But, He Will, with an outstanding pace.…
— Dark Defender (@DefendDark) November 19, 2024
This optimism aligns with XRP’s 79.07% weekly gain, even as the token faces a slight 3.83% pullback in the last 24 hours. At press time, XRP trades at $1.10, according to CoinGecko.
For XRP to reach its previous ATH of $3.84, it must rise approximately 249%, an increase by $2.74, a target many in the community believe is achievable.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading. Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. Copy trading: allows users to copy the trades of leading traders, for free. User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
The post XRP Price Targets ATH as Ripple Whales Accumulate Massively appeared first on CaptainAltcoin.
