XRP Whales Spark 40% Rally Hopes Amid Bullish Breakout

XRP's Bullish Breakout and Whale Transactions: A Sign of Upside Momentum?

XRP, the native token of Ripple Labs, has recently experienced a bullish breakout, with a significant increase in whale transactions. This surge in activity has caught the attention of investors and analysts, who are now eyeing a potential 40% rally in the cryptocurrency.

According to on-chain analytics firm CoinGlass, there has been a substantial outflow of $45 million worth of XRP from exchanges in the past 24 hours. This significant outflow is potentially a sign of accumulation and could create buying pressure, leading to further upside momentum. Additionally, crypto whales have recently purchased a significant 120 million XRP tokens during the recent price dip, as reported by CoinPedia, further supporting investor interest amid the price decline.

XRP is currently trading near $3.18 and has experienced a price surge of over 7.5% in the past 24 hours. This strong upside momentum amid the bearish market sentiment has resulted in a breakout of the bullish flag and pole price action patterns on the four-hour time frame. Considering the current price action and recent whale activity, it appears that XRP could breach the trendline resistance and potentially soar by 40% to reach the $4.45 level.

When combining this bullish price action with the recent activity of whales and long-term holders, it appears that bulls are currently dominating and could support XRP in reaching the predicted level in the coming days.