XRP Whales Move 6 Billion as Price Targets $27 Amid Market Volatility
1min read XRP, the native cryptocurrency of the Ripple network, has been experiencing volatility in recent days, following a broader downturn in the crypto market. Despite this, experts remain optimistic about the long-term prospects of XRP, with some suggesting that it could replicate its 2017-2018 bull run, during which the price surged by over 700%. If history were to repeat itself, XRP could potentially reach double-digit valuations.
Renowned analyst EGRAG CRYPTO has highlighted two key price targets for XRP, based on historical breakout patterns. The first target is set at $9.7, derived from the midpoint of a triangle breakout pattern. EGRAG CRYPTO advises traders to take profits gradually at $8, $9, and $10 to secure gains without missing out on price movements. The second, more ambitious target is $27, based on XRP’s 2017 surge, which saw the coin soar by 718% from a breakout of around $0.35-$0.39. Applying the same percentage gain to the current cycle’s local top of $3.4 gives a potential price point of $27 per coin.
This bold prediction comes as XRP whale activity has surged significantly over the past few days. Expert Ali Martinez noted that the crypto’s “whale activity has been consistently rising over the past three weeks.” This indicates growing participation in the XRP network, with more investors entering the market. Recently, Ripple whales moved nearly $6 billion worth of coins, catching the attention of traders. The anticipation over the conclusion of the Ripple vs. SEC lawsuit and the potential launch of an XRP ETF in the US have further fueled market sentiment. Additionally, XRP has outperformed top cryptocurrencies like Bitcoin and Ethereum over the past few weeks, indicating growing market confidence in the asset.
Despite the recent downturn, experts maintain a bullish forecast for XRP. The crypto is currently consolidating within a symmetrical triangle, according to analyst Ali Martinez. A breakout from this pattern could spark a 23% price move. Expert CasiTrades pointed out that XRP is testing critical resistance at the $2.54 level. A breakout above this level could lead to further gains, with potential targets at $2.70 and $ 
