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Sujit Kumar
Jul 24, 2024
by Sujit Kumar

Whales Accumulate 140 Million XRP as Analysts Predict Major Breakout

Whales Accumulate 140 Million

Table of contents

  1. Analyst Predictions
  2. Bullish Sentiment Grows
  3. Conclusion
The cryptocurrency XRP has recently attracted significant attention, with its price rising over 20% in the past 30 days. Notably, crypto whales have purchased over 140 million XRP, worth approximately $84 million, signaling strong accumulation.

Analyst Predictions

Popular cryptocurrency analyst Ali Martinez highlighted this substantial whale activity. The timing coincides with predictions of a major price surge for XRP. One analyst, known as Dark Defender, shared insights on X (formerly Twitter) about XRP's potential breakout. After bouncing from $0.39 to over $0.60, XRP has entered a critical "qualification mode."

Dark Defender suggests that if XRP breaks through the $0.6649 mark decisively, it could hit significant Fibonacci retracement levels at $1.88, $5.86, and even $18.23. This potential breakout has fueled bullish narratives within the crypto community.

Bullish Sentiment Grows

The optimism surrounding XRP's price is not isolated. Another well-known analyst, Milkybull Crypto, believes the current rally is only the beginning. Drawing parallels to the 2017 surge, where XRP's price skyrocketed over 66,000% from around $0.005 to over $3.3, Milkybull Crypto sees a similar potential for growth.

Additionally, crypto analyst MichaelXBT identified a rare seven-year bullish pennant pattern for XRP on the same platform. This extended consolidation period, he argues, suggests the potential for a significant price increase, further amplifying the bullish sentiment.

Conclusion

With substantial whale accumulation and multiple analysts predicting a major breakout, XRP is poised for an exciting period. The potential for significant price increases has captured the attention of both investors and analysts, making XRP a cryptocurrency to watch closely in the coming weeks.

Reference Article:

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Whales Accumulate 140 Million
Whales Accumulate 140 Million XRP as Analysts Predict Major Breakout
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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