XRP Price To Rally As Whales Move $51M?

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As a seasoned crypto investor with a knack for deciphering market trends and a keen eye for whale activity, I find the recent $51 million XRP transfer intriguing. Whales moving their coins typically indicate a bullish sentiment, and this could be a sign that XRP is about to rally.

Attention has shifted towards the price of XRP after a significant investor (often referred to as a crypto whale) moved $51 million worth of XRP. This event suggests a potentially positive future for the coin, given the potential influence such investors can have on its value when they increase their holdings in XRP.

XRP Price Could Rally As Whales Make Their Move

The price of XRP might surge due to large investors (whales) taking action, as they’ve moved 100 million XRP valued at around $51.6 million between two unidentified wallets. Notably, this transfer wasn’t made to an exchange, indicating that the whale may not be planning to sell their coins at present. This could be a positive sign (bullish) for XRP investors.

Rather than shifting it for some other purpose, this whale might have moved their XRP to ensure security as they plan to hold it for an extended period. Notably, this action occurs during the ongoing appeal case between Ripple and the U.S. Securities and Exchange Commission (SEC). This whale activity indicates optimism towards XRP, implying that investors’ sentiments regarding the coin are no longer influenced by the prolonged legal dispute.

Currently, whale behavior aligns with crypto analyst Egrag Crypto’s forecast that XRP might reach $95 soon. A spike in whale activity could potentially ignite this unexpected price surge. At present, the attention is mainly on XRP successfully breaching the $0.6 resistance level for the first time, a threshold it has repeatedly tested since Judge Analisa Torres’ ruling in August.

How The Crypto Move With The Bitcoin Price

According to Egrag Crypto’s analysis, there’s a possibility that the price of XRP could increase to $4.43 if Bitcoin (BTC) reaches $100,000. This projected rise represents an approximately 555% growth and would resemble the previous market high.

Egrag predicts that if Bitcoin (BTC) reaches prices of $130,000, $150,000, $170,000, and $200,000, XRP could potentially increase to $5.76, $6.64, $7.53, and $8.86 respectively. In simpler terms, the price of XRP might grow as Bitcoin’s price increases according to these levels.

The analyst noted that this price target between $4.43 and $8.86 is the worst-case scenario for the coin as he believes the XRP price will rise higher than this. According to Egrag, “Worst-case scenario or not, there’s still Big potential” for XRP.

Meanwhile, crypto analyst Dark Defender drew a correlation between the XRP price and the Bitcoin price, although from a different angle. In an X post, he mentioned that the XRP bull run starts when Bitcoin dominance declines. He noted that this happened in 2017 and 2021, so he doesn’t expect this time to be different.

According to the chart he provided, it’s predicted that the XRP price surge will commence in the upcoming month and continue through November 2025. The chart suggests that XRP could potentially surpass double-digit figures, with a peak value of approximately $99.

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2024-10-29 01:11