Ripple Whales Accumulate $78M in XRP as Price Targets $4.50

• Crypto whales bought 30M $XRP worth $78M in 24 hours, following 920M tokens purchased from Binance earlier this week.
• $XRP surged 6.10% to $2.65 with a 41% rise in trading volume, boosted by Ripple’s $RLUSD launch and growing investor interest.
• Analysts predict $XRP could rise 79% to $4.50 if it closes above $2.67, supported by bullish flag patterns and strong market sentiment.

$XRP, the native cryptocurrency of Ripple Labs, continues to draw significant attention in the ongoing market rally. On December 18, 2024, a prominent crypto expert revealed on X (formerly Twitter) that crypto whales purchased 30 million $XRP tokens worth $78 million within 24 hours.

This massive acquisition highlighted the purchase of 920 million $XRP tokens from Binance.The heightened activity signals strong buying pressure in the market and has contributed to a notable price surge for $XRP.

Ripple’s $RLUSD Launch Boosts Investor Confidence

Notably, $XRP’s current rally coincides with the impending launch of Ripple USD ($RLUSD), which has significantly influenced market sentiment. Following the announcement, $XRP surged by over 6.10% within 24 hours, with its trading volume climbing 41% during the same period.

Moreover, investors and traders have shown increasing interest in the token, supported by whale activity and Ripple’s latest developments. $XRP is currently trading near $2.65, with its Relative Strength Index (RSI) at 66. This RSI value indicates ample room for further upward momentum, as the token remains below overbought levels.

Additionally, technical analysts have identified a bullish flag and pole pattern in $XRP’s price movements on the daily time frame. If $XRP closes a daily candle above the $2.67 resistance level, analysts anticipate a potential surge of up to 79%. This projection could see $XRP reach the $4.50 level, presenting an attractive buying opportunity for investors.

Consequently, the breakout from this technical pattern aligns with the growing market interest in $XRP. Traders view these developments as a sign of continued upward momentum in the cryptocurrency’s price.

Market Sentiment Strengthens Amid Whale Purchases

Recently, the Whale purchases and the upcoming $RLUSD launch have shifted the market sentiment toward a bullish sideways trend. The significant buying pressure suggests sustained interest in $XRP as a strategic investment.

Hence, with Ripple Labs making strides in its initiatives, $XRP’s performance reflects optimism among traders and investors. The alignment of whale activity, market dynamics, and technical indicators has created a favorable environment for $XRP’s growth in the near future.