In anticipation of a potential breakout, XRP whales transfer more than $210 million amid bullish indicators and rumors of a Ripple-Cardano partnership.
XRP price has been bearish in the last 24 hours after failing to breach the resistance level at the intraday high of $1.14. Amid this price correction, XRP whales have moved over 210 million tokens in two significant transactions. The transfers coincide with speculation about a potential partnership between Ripple and Cardano.
XRP Whales Transfer Over $210 Million in Two Transactions
Data from Whale Alert revealed two large XRP whale transactions in the past 24 hours, totaling 210,930,712 tokens. In the first transfer, 110,930,712 XRP (worth approximately $123.59 million) was moved from Binance to an unknown wallet. In the second, 100,000,000 XRP (valued at $110.17 million) was sent between two unknown wallets.
Such large-scale movements of tokens by XRP whales often signal strategic repositioning ahead of significant market developments.
Despite the recent price correction, these transactions come as the XRP market shows signs of bullish momentum. Analysts closely watch whale activity, which could hint at upcoming market changes.
The XRP whales transactions also coincide with increased speculation about a possible collaboration between Ripple and Cardano. Consequently, the recent interactions between Ripple CTO David Schwartz and Cardano founder Charles Hoskinson have fueled rumors of a partnership.
Bullish Indicators Persist in the XRP Price Trend
Despite recent bearish price action, technical indicators point to potential bullish momentum for XRP. On the 24-hour price chart, XRP has formed a golden cross pattern, with the 50-day moving average (MA) crossing above the 200-day MA. This technical setup is often seen as a sign of a prolonged upward trend.
Additionally, the Moving Average Convergence Divergence (MACD) indicator remains in the positive region, and its histogram suggests growing bullish strength.
These factors imply that XRP’s current rally may not yet be over, and whales could be positioning themselves for a potential breakout to the upside. Analysts predict that if XRP breaks above $1.14, it could pave the way for further gains.
Analysts Predict Potential XRP Breakout
Amid these XRP Whale developments, crypto analysts remain optimistic about the coin’s long-term prospects. Famous analyst CrediBULL Crypto has projected that XRP could reach as high as $20 during this market cycle. Concurrently, other crypto analysts continue to express confidence in XRP’s long-term potential, citing its historical performance and new market conditions.
Moon Lambo, a crypto commentator, noted that XRP reached $2 in the last market cycle despite under regulatory pressure from the SEC. Now, with legal clarity following Ripple’s partial court victory, many believe the XRP price could exceed its previous highs.
Moon Lambo remarked, “Isn’t it absurd to think that price won’t be surpassed this cycle now that there is legal clarity?” He also pointed out that XRP delivered a 20x rally in the previous cycle and suggested that this cycle could see even more significant gains as more capital flows into the crypto market.
Subsequently, analyst Moon Lambo has indicated plans to scale out at prices between $5 and $8, possibly holding a portion for a $10 or higher valuation siding with CrediBULL Crypto prediction.
