XRP Price Eyes $5 As Whales Move $700M
Crypto analyst Dark Defender has predicted that the XRP price could reach $5 in this new year. This bullish prediction comes amid increased Whale activity, with these investors moving over $700 million worth of XRP.
XRP Price Eyes $5 Amid Increased Whale Activity
In an X post, crypto analyst Dark Defender predicted that the XRP price could reach $5 in 2025. This prediction comes amid increased Whale activity, with investors moving over $700 million.
Whale Alert data shows that an unknown wallet transferred 300 million XRP ($649.8 million) to Ripple. Meanwhile, another unknown wallet transferred 30 million XRP to the Bithumb exchange.
An increase in Whale activity usually provides a bullish outlook. However, in this case, the transfer to the Bithumb exchange suggests that the investor in question may be looking to offload their coins.
Such a sale could put significant selling pressure on XRP. Despite this development, Dark Defender has provided a bullish outlook for the crypto, with his prediction that XRP could reach $5.85.
The crypto analyst mentioned that the Fibonacci target levels are the same, and the first one sits at $5.85 precisely. He also announced that XRP had completed the correction pattern in the weekly timeframe.
Having completed this corrective pattern, Dark Defender stated that he expects the XRP price to break the triangle that he highlighted on the charts within a week.
The crypto analyst’s accompanying chart showed that XRP could still rally to as high as $18 in this market cycle. Meanwhile, crypto analyst CasiTrades also recently provided a bullish outlook for XRP as she predicted that the crypto could rebound to $2.60.
More Bullish Outlook For The Crypto
In an X post, crypto analyst Mikybull Crypto also provided a bullish outlook for the XRP price, stating that it has one of the most bullish charts out there.
His accompanying chart showed that XRP was well primed for price breakout. The chart also showed that the crypto could rally to double digits in this market cycle.
Crypto analyst Egrag Crypto also predicted that the XRP price could rally to as high as $27 in this market cycle. The analyst explained that the crypto could enjoy such a price surge considering that it recorded a parabolic rally in the 2017 bull run.
The post XRP Price Eyes $5 As Whales Move $700M appeared first on CoinGape.
Filed under: News - @ January 1, 2025 4:22 pm