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- Ripple whales have accumulated $526 million worth of XRP, signaling growing confidence in the token, while market analysts predict potential price targets of $3 and $7.5 by 2025.
- XRP’s recent price surge and the 10% increase in XRP Futures Open Interest suggest strong investor confidence, with the possibility of new highs in the coming years.
Since XRP’s price rally has captured market attention, recent data reveals significant accumulation by Ripple whales. This update aligns with a recent prediction shared by CNF, highlighting that XRP could potentially rally 40x in this cycle.
In fact, over the past week, wallets holding between 1 million and 100 million XRP amassed 453.3 million tokens, valued at $526.3 million. The CNF post previously concluded that:
Interestingly, while a surge in exchange reserves is typically an indication of a pending price drop, XRP has been doing the opposite, defying that trend by rising in price with its exchange reserves.
This buying surge, tracked by Santiment, contrasts with smaller wallets offloading 75.7 million tokens during the same period. Such activity highlights rising confidence in XRP as it surpasses $1, its highest level since 2021.
Bullish Momentum and Predictions
On the other hand, EGRAG CRYPTO, a prominent analyst, labeled this potential as a “MEGA move,” fueled by increasing investor interest and market optimism following Donald Trump’s election win and remarks from Ripple CEO Brad Garlinghouse.
Market analysts are optimistic about XRP’s future, with forecasts suggesting potential price targets of $3 in the short term and $7.5 by 2025, provided the token sustains above $1.5.
XRP Futures Reflect Growing Confidence
As per CoinGlass data, there is a 10% spike in XRP Futures Open Interest, signaling robust investor confidence. With XRP up 7% today, hitting $1.18, and marking a weekly gain of 96%, enthusiasm remains high.
Analysts believe these trends, combined with whale backing and rising market participation, could propel Ripple’s native crypto toward new highs in the coming years.
According to CoinMarketCap, Ripple (XRP) is currently trading at $1.13, having surged by 1.06% in the past day and 85.97% in the past week. See the XRP price chart below.