- XRP climbs to $2.23 after 2.76% daily gain, eyes breakout toward $4.80 and $8 targets.
- Whale accumulation rises, with 2,700 wallets holding 1M+ XRP as network activity surges.
- On-chain data shows that the number of daily active addresses has jumped to 295,000, fueling bullish momentum.
XRP is once again grabbing the attention of crypto traders, as the digital asset shows growing strength following recent bullish momentum. After several weeks of sideways movement, the token has started to show signs of a potential breakout, fueling optimism among investors and analysts alike.
In the past 24 hours, XRP has gained another 2.76%, pushing its price to $2.23. This comes on the heels of a 7% surge recorded the previous day. Bitcoin has also continued its upward march, rising 3% to trade around $108,000. The broad market strength is providing a favorable backdrop for XRP’s renewed price action, but much of the current excitement centers on XRP’s technical setup.
According to crypto analyst Javon Marks, XRP’s recent price action signals a “clear breakout” from previous consolidation zones. Marks suggests that if the token can maintain its current momentum, it could enter a strong bullish phase. His price targets are ambitious, projecting an initial surge toward $4.80, followed by a potential longer-term move to as high as $8.00.
XRP Breakout Nears $2.60 After Whale Accumulation
Trader CW adds to the bullish outlook, highlighting XRP’s ongoing battle with a significant sell wall. “If the token can successfully break through this resistance, the next price target sits at $2.60,” he stated. CW also noted an uptick in both on-chain and trading activity, adding fuel to the bullish narrative.
On-chain data supports the growing optimism around XRP. Analyst Ali Martinez reports that last week alone, the token recorded 1.12 million active addresses, a notable jump that underscores rising network engagement. Data from blockchain analytics firm Santiment further reinforces this trend, showing that an average of 295,000 XRP addresses have been active daily over the past week significantly higher than the typical range of 35,000 to 40,000 daily addresses seen earlier.
Perhaps more importantly, large investors are increasing their holdings. For the first time, over 2,700 whale and shark wallets are now holding at least one million tokens each, indicating growing confidence among institutional and high-net-worth players.
XRP Holds Above $2 as Bulls Target $10 Cycle Top
While the token has already surpassed several key resistance levels and is holding above critical moving averages, not everyone agrees on where its true cycle top lies. Prominent analyst Egrag Crypto has pushed back against claims that XRP’s previous cycle top of $3.40 marks its ultimate peak. He remains highly bullish, suggesting XRP could still reach between $10 and $27 before any major correction takes place.
“The breakout isn’t fully confirmed yet,” Egrag explained. “But if the token can decisively break above the descending trendline and key horizontal resistance, we could see a strong push toward revisiting the all-time high.”
Currently, the token has been fluctuating in a tight range between $2.00 and $2.65. Strong buying interest continues to emerge around the $2.00 level while selling pressure remains firm near $2.65. If buyers can keep the price above critical moving averages, a breakout above $2.65 becomes increasingly likely, which could open the door to a rally toward the previous high of $3.40.
However, the bullish scenario could be threatened if XRP slips below $2.00. A break beneath this level could shift the momentum back to the bears and potentially drag prices down toward the next major support near $1.61.
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