Ripple's XRP is experiencing significant growth, breaking out of a long-term triangle pattern that mirrors the 2017 situation. Increased market activity and whale interest are also notable.
Strong XRP Momentum and 2017 Analogy
At the time of publication, XRP was trading at $2.58, up 6.56% over the past 24 hours and 15.15% for the week. Trading volume climbed to $5.87 billion, an increase of 28.20% from the previous day. Analysis confirms a breakout from a large multi-year symmetrical triangle formed between 2018 and 2024. This pattern resembles XRP's 2017 structure, where a sharp move was followed by a consolidation period, then another leg upward.
Whale Activity
Recently, whale activity has increased. A transfer of 40 million XRP (worth over $101 million) between unknown wallets was flagged by Whale Alert. Additionally, another transaction involving 25.49 million XRP was sent from a private wallet to Coinbase. Such moves often attract attention as they may precede large market activity.
Analyst Targets for XRP Price
Crypto analyst Javon Marks noted that XRP could still be on track for a move toward $9.63 based on fractal analysis and Fibonacci extensions. 'XRP's history still points to the next leg up leading into $9.631+, if not well beyond!' he stated. Meanwhile, the technical structure remains bullish as long as the price holds above $2, which may set the stage for a second upward impulse.
XRP continues to show strong momentum, echoing past achievements. Increased whale activity and positive analyst forecasts suggest the potential for further price increases, highlighting XRP as a cryptocurrency of heightened market interest.
