- XRP’s bullish momentum hinges on maintaining support above $2.30 for further gains.
- Whale transactions signal strategic positioning, potentially influencing XRP’s price.
- Ripple CEO’s optimism about regulatory clarity could drive XRP’s long-term growth.
XRP has gained significant momentum in the ongoing crypto bull run, with analysts forecasting a major price surge. Prominent trader Random Crypto Pal, who previously dismissed XRP as a failing asset, has revised his outlook.
He now believes XRP could rise to $24 in this cycle. This dramatic shift in perspective has fueled discussions among traders and investors, especially as technical indicators suggest further gains.
Gotta love the XRP haters eat crow. https://t.co/SDRoBs6kBl
— Digital Perspectives (@DigPerspectives) February 12, 2025
XRP Price Outlook and Key Support Levels
Ali Martinez, a well-known crypto analyst, highlighted critical price levels that could determine XRP’s next move. According to his analysis, XRP must stay above the $2.30 support level to maintain its bullish momentum.
The XRP/USDT 4-hour chart on Binance shows the asset trading at $2.4705 within an ascending channel. If the price holds above $2.30, it could first aim for $2.65, the mid-range resistance, before targeting the psychological level of $3.00.
However, a drop below $2.30 could invalidate the bullish setup, leading to downside risks. Martinez advises traders to watch for increased trading volume and confirmation signals before XRP attempts its next upward movement. As long as it remains above $2.30, the potential to reach $3.00 remains strong.
Whale Transactions and Market Sentiment
Recent on-chain data from Whale Alert revealed massive XRP transfers, totaling over 430 million tokens. Among these transactions, Ripple moved 300 million XRP to an unknown wallet, followed by another 90 million XRP shifting between unidentified addresses. Additionally, 40.8 million XRP were transferred from Coincheck to another unknown destination.
These large transactions have sparked speculation within the crypto community. Whale movements often indicate strategic market positioning by major holders, which can impact liquidity and price stability. While the purpose of these transfers remains uncertain, such significant transactions can influence investor sentiment and price action.
Regulatory Developments and ETF Prospects
Ripple CEO Brad Garlinghouse remains optimistic about upcoming policy changes in the U.S. He noted that bipartisan support for clearer crypto regulations is growing, highlighting meetings with lawmakers such as Senator Tim Scott and Representatives Ritchie Torres, William Timmons, and French Hill.
Garlinghouse has previously criticized regulatory uncertainty, arguing that it pushes crypto innovation overseas. However, his recent remarks suggest a shift in sentiment, with policymakers showing a more constructive approach toward digital assets.
Additionally, the U.S. Securities and Exchange Commission (SEC) has acknowledged a 19b-4 filing related to a potential XRP exchange-traded fund (ETF), which could further boost market confidence.
Market Performance and Outlook
XRP currently trades at $2.75, with a 24-hour trading volume exceeding $5.35 billion. The cryptocurrency has gained 10.50% in the past 24 hours and 17.30% over the last week. With a circulating supply of 58 billion XRP, its market capitalization stands at $155.3 billion.
