XRP whale transfers US$95m ahead of Trump inauguration, rally to US$4 imminent

19th January 2025 – (New York) XRP has experienced a remarkable surge of over 560% since November 2024, recently breaking the $3 threshold for the first time in seven years. As of 19th January, 2025, the cryptocurrency’s market capitalisation has exceeded $180 billion, further solidifying its place in the crypto landscape.

On that day, a major transfer of 30 million XRP, valued at approximately $95.5 million, was executed from the South Korean exchange Upbit to an unknown wallet. This transaction has sparked speculation about potential market movements as the approval of exchange-traded funds (ETFs) for XRP looms on the horizon.

Analysts are closely monitoring XRP’s price action, noting a bullish flag pattern that suggests further upward momentum may be on the cards. According to market expert Ali Martinez, the breakout from this pattern could signal a rise to $4. After briefly peaking at $3.40, XRP retreated to around $3.16. Analysts believe that sustaining a price above $3.40 could indicate the onset of a new rally, while a decline below $2.91 might lead to testing lower support levels.

In a broader context, XRP is also trading out of a long-standing symmetrical triangle pattern that began after reaching its all-time high of $3.80 in December 2017. Martinez has set a long-term price target of $15, suggesting that XRP’s recent performance supports the notion of continued growth.

However, this optimistic outlook has drawn some scepticism. Critics like crypto commentator Tribal Trader have raised concerns about the feasibility of reaching a $15 target, pointing to the implications for market capitalisation. At that price point, XRP’s market cap would exceed $860 billion, significantly surpassing that of Ethereum. Martinez countered this by highlighting that XRP’s current market cap of $180 billion already surpasses that of financial giant BlackRock.