XRP trading volume surged 80% to $4.35B as whale moves total 370M XRP.
Open interest hit $3.72B, with options volume up 28% over $1M.
XRP may reach $8.5 if it hits the $500B market cap, boosting reserve inclusion talk.
XRP has gained significant movement in the market as its trading volume has risen by 80% and touched $4.35 billion today. This comes when there is increased activities of whales and debates about Ripple as being included in strategic reserves. The digital asset is currently priced at $2.17, and experts believe that it could increase its value further in the near future.
This spike in daily operations corresponds to an overall revival in the cryptocurrency market after receiving updates from the Federal Reserve.
Whale Movements Trigger XRP Market Response
Significant whale transactions have caught the attention of market participants. Additionally, blockchain data revealed two big transactions of 70 million and 300 million XRP respectively. The first transaction was $144,282,964 and the second transaction was $633,710,617.
Both transfers were directed to unknown wallets, sparking speculation about accumulation and possible price action. These movements signal increased involvement from major holders, which could influence future market sentiment and liquidity conditions.
The Coinglass data shows that the XRP open interest has surged 3.28% to $3.72 billion. This increase reflects greater trader engagement. Options interest in XRP has also risen by 28%, with volume surpassing $1 million.
These metrics support the view that traders are actively positioning for potential price growth. Consequently, short-term targets are now under close watch as XRP holds its ground above $2.10.
Price Projections Backed by Technical Indicators
Analysts remain focused on XRP’s short-term technical outlook. According to Dark Defender, a widely followed market analyst, XRP could first meet resistance at $2.222 and $2.36. After completing a corrective move to $2.13, the cryptocurrency has started to move higher. The avoidance of a $60 million liquidation event further strengthens the bullish case.
Dark Defender outlined a wave-based structure, suggesting a three-phase rise. The first price target sits at $3, with subsequent moves aiming for $4.4 and $6.3. This projection relies on the current trajectory holding firm and maintaining key support levels. The analyst’s chart pattern breaks the larger wave into five sub-waves, which helps map out possible stages of the rally.
Ripple Reserve Developments Add Long-Term Interest
Further supporting investor interest is news surrounding Ripple's potential involvement in a digital asset reserve. Crypto attorney Fred Rispoli highlighted that XRP could qualify for New Hampshire’s strategic reserve by 2026. This would be possible if the cryptocurrency achieves a $500 billion market capitalization this year. Such a milestone could place XRP at a price of approximately $8.5.
The legislation passed in New Hampshire adds a long-term narrative to XRP’s outlook. While such a scenario depends on various market and regulatory conditions, it has added to recent interest in the asset. Many analysts anticipate XRP breaking above $10 by late 2025, contingent on consistent market support and adoption growth.
