Ripple's XRP/USD Rally Is Increasingly Gaining Momentum Amid Whale Accumulation and Increased Optimism From Traders
- DDDOriginal
- 2024-11-16 04:26:11600browse
XRP surged 22% on Friday, bringing its seven-day gains to 57%. The seventh-biggest cryptocurrency in the world has outperformed the two cryptos over the past week.
(Bloomberg) --
Ripple’s XRP token is surging amid a seven-day rally of 57%, outpacing even Bitcoin and Ether over the past week.
The seventh-biggest cryptocurrency in the world is now up more than 100% from its recent lows.
Here’s what happened, and what traders are saying about XRP’s upcoming price targets.
What Happened: XRP surged 22% on Friday, bringing its seven-day gains to 57%.
The seventh-biggest cryptocurrency in the world has outperformed even the two top cryptos over the past week, with Bitcoin rising 10% and Ether climbing 17%.
Trader Notes: In a recent podcast update, veteran crypto trader DonAlt identified XRP as being in a monthly breakout phase.
He highlighted resistance levels at $1.50 (2x the current price) and $3.60 (4x).
While not a fan of XRP fundamentally, he sees it as a strong trading opportunity.
DonAlt also predicts the return of 2017-era traders who feel comfortable trading XRP.
In his latest tweet, DonAlt stated that Dogecoin and XRP are the retail coins of old, outlining his entry levels for trading the altcoin.
If all goes well and $XRP does a lot of crime these are the levels I'm looking at pic.twitter.com/sW49QLkKBx
Another trader, Mikybull Crypto, foresees a massive rally taking XRP to new all-time highs by March 2025.
$XRP The train has left already
Expect a massive rally to a new ath from now till March 2025. pic.twitter.com/tmQ4bkWv3U
Statistics: Santiment data reveals wallets holding at least 1 million XRP now control a combined 45.61 billion tokens, the highest since June 2018.
Over the last two years, whales and sharks accumulated an additional 3.44 billion XRP, reflecting an 8.16% increase.
What’s Next: The future of Ripple is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
Attendees will gain valuable insights into the regulatory landscape, institutional adoption, and emerging trends shaping the crypto industry. Don’t miss out on this exceptional opportunity to stay at the forefront of innovation.
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