XRP Price Ready for Comeback: Analysts See Bull Movement and Strong Potential for Upward Trend
XRP Reignites Bullish Momentum Amid Whale Activity and ETF Optimism
XRP is back in the spotlight as a major whale transferred 29.5 million XRP—worth over $64 million—to Coinbase, sparking speculation of renewed bullish momentum. The transaction was confirmed by on-chain tracker Whale Alert, further fueling excitement around Ripple's short-term prospects.
Adding to this optimism, analytics platform Santiment reports that whale wallets holding between 10 million and 100 million XRP have collectively accumulated over 200 million tokens within the past week. Such heavy accumulation often precedes significant price rallies, especially in anticipation of major market events.
One such event on the horizon is the potential approval of the ProShares XRP ETF, scheduled for a decision on May 14. According to Polymarket, the odds of approval currently stand at 80%, indicating strong confidence and rising institutional interest. In another positive indicator, 23% of U.S. crypto investors now hold XRP, underscoring its growing appeal.
Key Highlights:
$64M XRP whale transfer to Coinbase detected
200M+ XRP accumulated by large holders over 7 days
80% approval odds for ProShares XRP ETF ahead of May 14
23% of U.S. crypto investors now hold XRP
XRP Price Outlook:
XRP is currently trading around $2.19, after briefly dipping to $2.15 earlier in the week—a move that triggered nearly $14 million in long liquidations. However, the price rebound suggests this was likely a short-term shakeout rather than a fundamental shift.
Importantly, XRP continues to hold above its 20-day Simple Moving Average (SMA) at $2.167, which now serves as a critical support level. A sustained hold above this level could pave the way for a potential breakout in the days ahead.
