XRP has skyrocketed to a multi-week peak of $2.39, fueled by aggressive accumulation from major investors. Market experts now suggest the digital asset could be on the verge of a parabolic surge, with a potential climb to $10 gaining traction.
Whale Movements Signal Strong Confidence in XRP’s Future:
Recent blockchain data reveals a notable spike in large-scale XRP transactions. The number of high-value wallets—those holding at least 1 million XRP—has surged to 2,742, nearing an all-time record. Collectively, these whales control a staggering 47.32 billion XRP, underscoring their long-term bullish stance.
Key transactions include:
🔹 A transfer of 25.5 million XRP (valued at $60+ million) to Coinbase from an undisclosed wallet.
🔹 A massive 200 million XRP ($477 million) shift by Ripple to an unknown address, sparking speculation about strategic moves.
XRP’s Strong Fundamentals Fuel Optimism
XRP is experiencing unprecedented momentum, supported by both market trends and project-specific developments:
🔹 Dominance in South Korea: XRP leads trading volume on Upbit, South Korea’s top exchange, highlighting robust retail demand.
🔹 ETF Progress: The ProShares XRP ETF has been listed on the DTCC platform, a potential precursor to U.S. regulatory approval.
🔹 Institutional Backing: Ripple has partnered with banking giant BNY Mellon to custody reserves for its RLUSD stablecoin, which has already exceeded $500 million in circulation.
🔹 Regulatory Clarity: Following Ripple’s legal victory against the SEC, CEO Brad Garlinghouse’s recent U.S. Senate testimony reinforces XRP’s growing legitimacy.
Technical Indicators Point to Explosive Upside
XRP has gained over 10% this month, decisively breaking past key moving averages. Analysts have spotted a rare “God Candle” formation—a technical pattern often preceding massive breakouts. With the Relative Strength Index (RSI) hovering in the 60-65 range (strong but not overbought), the next critical resistance lies between $2.40 and $2.50. A sustained breach could propel XRP toward $3, with a long-term target of $10 becoming increasingly plausible.
DYOR No Financial advice!
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