Highlights
- Whale activity indicates growing institutional interest, with a recent $85M purchase.
- Key market cap support at $121.8 billion is crucial for XRP price direction.
- Analysts suggest patience for long-term holders as XRP navigates a “boredom phase.”
The XRP price has experienced remarkable growth since breaking free in the last quarter of 2024, surpassing the $2 mark. Despite facing several pessimistic factors, the price action of XRP crypto continues to capture attention as bulls actively defend the $2.00 level.
Adding to its credibility, XRP crypto has been included in Donald Trump’s crypto reserve, earning significant respect within the industry. Furthermore, numerous applications for ETFs have been submitted, and once approved, this could bring substantial trading volume into the market.
Whale accumulation is also on the rise, and ongoing developments keep the momentum strong. XRP crypto has established itself as a trendsetter in the crypto space, and experts are increasingly optimistic about its potential for further price growth ahead. Keep reading to know more.
Whale Activity Shows Optimism For XRP Price
Recently, large investors, commonly referred to as whales, have been actively accumulating XRP crypto.
Notably, one whale made a staggering purchase of 39 million XRP, valued at around $85 million, from the Bithumb exchange. This significant acquisition highlights the growing institutional interest in XRP crypto as these investors position themselves for future gains.
The activity of whales in the crypto market often signals long-term confidence. When institutional investors or high-net-worth individuals engage in substantial trades, it typically indicates their expectation of further price appreciation.
This trend suggests a bullish outlook for XRP as these influential players continue to invest.
A Key Market Cap Level That Will Decide XRP Price Flow
The short-term price action of XRP crypto is closely tied to its market capitalization, particularly around the key support level of $121.8 billion. This area has been tested multiple times and has proven to be a strong foundation for potential price rallies, depending on its resilience.
If XRP crypto’s market cap can maintain this support, it could trigger a rebound and foster upward momentum. Conversely, a drop below this level may signal a continuation of consolidation or even lead to a deeper price decline.
Monitoring this support level will be crucial in determining XRP crypto’s future direction, whether it trends higher or lower.
Analyst Says Long-Term Holders Needs To Exceercise Patience To See XRP Price Rise
Egrag, a technical analyst monitoring XRP price on a monthly chart, describes the asset as being in a “boredom phase.”
In his recent post, he noted that the current trading range suggests a potential wick move in April, which could see prices either drop to the $1.90–$1.79 range or rise to $2.80–$3.00. His analysis indicates that the market may explore both extremes before finalizing the monthly close.
Egrag’s most optimistic forecast points to a potential 62–70% upside rally from the $1.79 level. He acknowledged that many traders have lost interest following the SEC ruling, describing the current market conditions as “mentally exhausting.” However, he encouraged LTHs to remain patient.
On the daily chart, XRP price continues to consolidate above the $2.00 horizontal support, which has served as a key demand zone since early March, according to TradingView data. The Ichimoku Cloud indicates bearish pressure, but Ripple price remains above the lower boundary of the cloud.
The Relative Strength Index (RSI) is currently around 38.87, suggesting that the token is nearing oversold territory. If bulls can convert the $2.23–$2.44 range into support, it could strengthen upside momentum.
Another analyst, Setupsfx, is optimistic about further upside potential. In a TradingView post, he stated that XRP price has entered a “bullish reversal phase” with a short-term target of $3.50. He pointed out that the price recently bounced off its local bottom of $2.00 and has now reclaimed $2.20.
“The breakout from the falling wedge confirms a bullish reversal,” Setupsfx noted. He added that maintaining a position above $2.14 could pave the way toward $2.50 and eventually $3.50, while a sustained break above $4.00 would indicate a longer-term uptrend.
Setupsfx also highlighted an improving market structure and an RSI recovery, now at 46.74, suggesting that strength is building.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.