Whale transactions trigger significant surge in Ripple (XRP) price, pushing it to a 2-month peak.

Whale transactions trigger significant surge in Ripple (XRP) price, pushing it to a 2-month peak.

XRP's Priced Surge: A Whale Tale

Lately, Ripple's asset price has seen a remarkable jump, breaching $2.6 for the first time since early March. This thrilling rise was instigated by a well-known whale with a notable winning streak who opened a substantial long position worth close to $12 million.

As we revealed on our site just a couple of days ago, XRP's price trajectory seemed to trail behind other major altcoins like Ethereum (ETH) and Dogecoin (DOGE), as they recorded exceptional weekly gains. At the time, Ripple's token was hovering around $2.4, having only managed a minor 9% increase (compared to others). However, the SuperTrend indicator suggested a buy signal with a price target of $2.6, and true to its word, XRP soon rocketed past that level, peaking at $2.67 on Bitstamp, marking the first time in over two months that it had breached this ceiling.*

This 10% daily surge catapulted XRP into the third-largest cryptocurrency spot by market cap, a position it continues to swap with Tether (USDT) as market volatility continues to reverberate.*

This breathtaking jump happened only hours after Lookonchain detected a significant whale who had opened a staggering $12 million 2x long position on XRP. This same entity had also recently taken a long position on Ethereum, boasting an unrealized profit of $10 million at the time of the report.*

Members of the XRP community swiftly caught wind of the asset's rally, before its minor pullback, and boldly pointed out a potential next target of $3 if the $2.6 resistance were decisively overcome.*

Binance: Welcome Offer ** SEC Alerts Crypto Calculator**

• Binance Free $600 (our site Exclusive): Claim here Register a new account and pocket a whopping $600 exclusive welcome offer on Binance
• Limited Offer for our site readers at Bybit: Join here Register and open a $500 free position on any coin!

Cryptocurrency Predictions: What's Brewing for XRP?

While analysts remain bullish about XRP's short-term potential, with projections of a potential rally to $4.50 by June 2025, the outlook is not without its contrary views. Some expect a decline by May 30, 2025, bringing XRP's price down to approximately $1.7176—a drop of around 21.94% from current levels.*

With the recent whale activity and XRP surpassing $2.6, market optimism could potentially increase, pushing prices even higher. However, market sentiment and technical analysis will continue to play key roles in price movements.

Overall, while some foresee a bullish future for XRP, others advise caution. The volatile and unpredictable nature of the cryptocurrency market ensures that there will always be uncertainty.

• Investors eagerly watch the cryptocurrency market as XRP continues to climb following a significant whale's $12 million long position on the asset.
• Technology-driven finance, particularly the blockchain Industry, sees its investments in XRP grow, as traders look towards potential future profits.
• A bullish market sentiment could persist as XRP's surpassing $2.6 may not be the end of its price trajectory, with many predicting further crypto trading gains and potential targets of $3 and beyond.

Read also: