XRP Price Breakout Imminent: Bulls Eye $3.57 as Whales Accumulate Billion XRP

XRP price has been consolidating within a Wave 4 formation, maintaining a structured pattern that aligns with technical expectations. The top altcoin has bounced off a key support level, now forming a triangle pattern, suggesting a period of price compression before a breakout.

Analysts are watching the $3.05 resistance level, as a decisive move above this point could open the door to higher targets. Technical analysis suggests that if XRP price can break through the $3.05 resistance level, it may gain momentum toward $3.57. This area aligns with the 1.0 Fibonacci extension and the upper trendline, marking a key test for bullish continuation.

If XRP price successfully surpasses $3.05 and reaches new highs, analysts anticipate a Wave 2 retracement before further upward movement. The expected pullback range is between $2.40 and $2.50, depending on the eventual high of the current trend. Wave 2 corrections are a normal part of price movements in Elliott Wave Theory, often providing a re-entry opportunity before the next bullish wave unfolds.

On-chain data indicates that large investors have accumulated nearly 1 billion XRP in the past 24 hours. Analyst Ali Martinez highlighted data from Santiment showing a sharp decline in whale holdings, followed by a significant recovery. The accumulation pattern suggests that whales used a recent price dip to purchase large amounts of XRP, positioning for an upward move. Wallets holding between 10 million and 1 billion XRP saw fluctuations, with a recent surge indicating renewed buying interest.

Institutional and high-net-worth investors often influence market trends, and their activity in the current consolidation phase suggests confidence in future price appreciation. If accumulation continues, XRP price may gain additional support for an eventual breakout past the $3 Ripple price target.