XRP Predicted to Reach $30 as Whales Move 70 Million Tokens

A cryptocurrency analyst has predicted that XRP could reach a valuation as high as $30, drawing parallels with Bitcoin’s historical price performance. According to the pseudonymous analyst RizeSenpai, XRP has the potential to climb to between $27 and $30 in the current market cycle, with an ultra-long-term target of $120. The analyst highlighted XRP’s recent breakout above its previous all-time high resistance, a level it has been consolidating above for several months. This breakout mirrors Bitcoin’s past behavior, suggesting that XRP is looking to buck the macro trend in the cryptocurrency markets and move towards its breakout levels.

RizeSenpai’s analysis, posted on April 12, leveraged technical setup and Fibonacci extensions to support the prediction. The analyst identified key resistance levels for XRP at $2.99 (1.414 Fibonacci) and $4.5773 (1.618 Fibonacci), with historical resistance zones at 1.618 and 1.902 Fibonacci levels. According to the outlook, Bitcoin’s breakout led to a surge toward its 1.618 Fibonacci extension at $61,800, followed by a peak at the 1.902 Fibonacci level. XRP, currently priced at $2.17, is projected to follow a similar path, targeting the 1.618 Fibonacci extension around $27 to $30 and potentially reaching $71 at the 1.902 level in the longer term.

Unlike Bitcoin and Ethereum, which the analyst predicts will underperform and fail to reach new highs, XRP is expected to buck the broader crypto market trend. If this pattern plays out, XRP’s conservative high target might be $30, which would attract a market cap of approximately $1.73 trillion, almost the same as Bitcoin’s. Beyond technicals, several bullish factors could support XRP’s rally. For instance, on April 10, data showed whales moved 70 million XRP, a strong signal that large investors are anticipating growth. This comes shortly after the launch of a leveraged exchange-traded fund (ETF), which may draw institutional interest.

Retail sentiment also appears optimistic, considering a report revealed a drop in XRP held on exchanges, suggesting investors are holding rather than selling in anticipation of a price increase. However, Ripple’s ongoing release of XRP from escrow, most recently 200 million tokens, could introduce short-term volatility. XRP was trading at $2.17 at press time, dropping 0.21% in the last 24 hours. On the weekly timeframe, the token has rallied over 5%. As things stand, XRP is trading slightly above both its 50-day simple moving average (SMA) and 200-day SMA, suggesting a generally upward trend in the longer term despite near-term weakness.