XRP price showed a potential rally signal with the transfer of 99,999,977 XRP (valued at $222,109,105) between two unknown wallets. This large-scale transaction triggered speculation of increased whale activity, which often heralds significant market movements.
Will XRP reach $13?
Currently trading at $2.3, XRP aims to rise to $13 in the coming months, as predicted by some analysts (Egrag and others). This direction of XRP creates a positive atmosphere among market watchers.
“Such large transactions indicate confidence among large investors and can lead to significant price changes.” – Egrag Crypto.
Latest transfer, Ripple $2.3 and CEO Brad Garlinghouse, after the US appeals court announced the dates for the petition and response petition.
Expert analysts note that XRP’s annual close above $1.99 is a turning point for sustainable growth, as it is the highest closing level since 2017. This could trigger a permanent increase in the value of the asset.
“We observe that the current course of XRP is more stable and less risky compared to the volatile cycles of 2017.” -Egrag Crypto.
Additionally, the Relative Strength Index (RSI) on the quarterly chart indicates the asset’s strong momentum, indicating further positive price movement.
Experts Are Optimistic Despite Temporary Decline
Despite the recent 8% drop in XRP price, experts remain optimistic about its long-term potential. Egrag Crypto called the decline “noise” and noted that XRP was merely retesting its December low and could potentially bounce back.
“Even falling below $1.90 is not worrying,” said Egrag Crypto, adding that XRP could form a double bottom in higher time frames.
Another market analyst, DonAlt, also stated that XRP is the best altcoin investment right now and predicted potential growth from $4.60 to $35 in the long term.
While XRP’s current price movements and whale activities attract the attention of the market, technical indicators and analyst comments indicate that the cryptocurrency may reach higher price levels in the coming periods. It may be beneficial for investors to make decisions by considering market dynamics and technical signals.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
