- A whale’s purchase of $30 million in XRP signaled renewed confidence and potential price growth.
- XRP technical indicators suggest further bullish momentum if volume and sentiment hold.
Over the past 24 hours, whale investors purchased a staggering 30 million Ripple (XRP) tokens, sparking a surge in demand and drawing attention to XRP’s price potential.
This sudden rise raises an important question: could this be the start of a major rally for XRP? More intriguingly, is it possible for XRP to reach extreme price levels like $100, $300, or even $500?
Whale activity and immediate impact on prices
Santiment data highlights a significant increase in whale transactions exceeding $1 million, coinciding with a rise in the price of XRP.
Over the past 24 hours, whale addresses have aggressively accumulated around 30 million XRP tokens, signaling renewed confidence among large investors.
Source: Santiment
This increase in whale activity often precedes a price rise, as significant buying pressure reduces available supply and strengthens market sentiment.
On the chart, the price of XRP shows a clear rise following the increase in transactions with whales. Notably, the highest concentration of these whale movements corresponds to the coin’s price of around $2.54.
If this trend continues, the current accumulation could push the price of XRP higher in the short term. Such behavior often fuels speculation about whether XRP is entering a new bullish phase.
What the metrics say
The daily chart of XRP showed a notable uptrend with an increase in trading volume during its recent rally, reflecting strong buying momentum.
However, volume has declined slightly, indicating potential indecision or consolidation ahead of the next move.
The RSI sits at 65.79, suggesting that XRP is approaching overbought territory, but still has room for upward movement. This level often signals continued bullish sentiment, provided buyers remain in control.
Source: TradingView
Meanwhile, the 50-day MA crossed above the 200-day MA, forming a Golden Cross, a classic bullish signal. This crossover reflects a change in long-term market structure in favor of buyers.
If the token maintains volume above 8 million and the RSI stabilizes below 70, it could pave the way for further upside. However, a drop in volume could lead to a short-term retracement.
Read XRP Price Forecast 2024-2025
Could XRP reach $100, $300 or $500?
Although it seems unlikely that the coin will reach extreme prices such as $100, $300, or $500 under current conditions, several factors could support such astronomical growth. Decisive legal victories for Ripple against the SEC could lead to massive institutional adoption and exponential demand.
Additionally, if XRP’s utility as a bridge currency for cross-border payments is widely adopted by global financial institutions, network usage and token speed could significantly increase.
Supply dynamics would also play a role; reduced circulating supply via significant whale accumulation or token burns could amplify price action.
However, for XRP to reach these levels would require a broader increase in market capitalization and unprecedented global adoption.
