- The whale’s purchase of $30 million of XRP signaled renewed confidence and a potential price increase.
- XRP’s technical indicators have suggested further bullish momentum if volume and sentiment continue.
In the past 24 hours, whale investors purchased 30 million Ripple (XRP) tokens, sparking a surge in demand and drawing attention to XRP’s price potential.
This sudden surge raises important questions. Could this be the start of a major rally for XRP? More interestingly, is it possible for XRP to reach extreme price levels like $100, $300, or even $500?
Whale activity and immediate price impact
Santiment data highlights a significant increase in whale trading exceeding $1 million coinciding with the upward movement in the price of XRP.
In the last 24 hours, the whale address has aggressively accumulated around 30 million XRP tokens, gaining new confidence among large investors.
Source: Santiment
These surges in whale activity often precede price increases. This is because significant buying pressure will reduce available supply and increase market sentiment.
On the chart, the price of XRP shows a clear upward trend following increased whale trading. Notably, the highest concentration of these whale movements coincides with the coin price of approximately $2.54.
If this pattern holds, the current accumulation could push the price of XRP higher in the near term. This behavior often fuels speculation as to whether XRP is entering a new bullish phase.
What the metrics say
XRP’s daily chart has shown a notable upward trend with volume surging during the recent rally, reflecting strong buying momentum.
However, volume has decreased slightly, indicating potential indecision or consolidation before the next move.
The RSI is at 65.79, indicating that XRP is approaching overbought territory but still has room for upside. This level signals continued bullish sentiment if buyers remain in control.
Source: TradingView
Meanwhile, the 50-day moving average crossed the 200-day moving average, forming a golden cross, a classic bullish signal. This crossover reflects changes in the long-term market structure favoring buyers.
If RSI stabilizes below 70 and the coin maintains trading volume above 8 million, it could set the stage for another rally. However, if volume decreases, a short-term retracement may occur.
Read XRP’s 2024-2025 price prediction
Can XRP reach $100, $300 or $500?
Although it is unlikely that the coin will reach extreme prices such as $100, $300 or $500 under current circumstances, several factors could support such astronomical growth. Ripple’s decisive legal victory over the SEC could fuel large-scale institutional adoption and exponential demand.
Additionally, XRP’s utility as a bridge currency for cross-border payments could lead to a rapid increase in network usage and token speeds if it is widely adopted by global financial institutions.
Supply dynamics also play a role. Reductions in circulating supply due to significant whale accumulation or token burns may amplify price fluctuations.
But for XRP to reach these levels, it will need a broader market cap surge and unprecedented global adoption.