Crypto analyst Ali Martinez has reported significant whale activity in the XRP market. In a recent post on X (Twitter), Martinez revealed that whales had accumulated 150 million XRP tokens in the last 48 hours, indicating heightened interest from large investors.
XRP Whales Rises Up
Adding to the excitement, another major whale transaction has caught the market’s attention. According to data from Whale Alert, a single Ripple whale withdrew 20 million XRP, worth approximately $50.65 million, from the Gemini exchange.
Such large-scale movements often suggest strategic accumulation, possibly in anticipation of a price surge or major market developments.
Potential Impact on XRP Price
The accumulation of XRP by whales generally signals strong confidence in its future value. When institutional and high-net-worth investors make large purchases, it reduces the circulating supply, potentially creating upward price pressure.
If buying continues at this rate, XRP could experience a breakout, leading to significant price appreciation. Historically, such whale movements have preceded bullish market trends.
Martinez has also identified a key bullish pattern on the XRP price chart. He noted that XRP appears to be breaking out of an ascending triangle on lower time frames, which could set up a 4% move toward $2.68.
If this breakout is confirmed, it may attract more traders looking to capitalize on short-term price gains.
Trump’s Social Media Post Stirs Speculation
On Tuesday, former U.S. President Donald Trump posted an XRP-related article on his Truth Social platform, further fueling speculation among the XRP community.
The article by CoinDesk detailed how Ripple CEO Brad Garlinghouse had seen increased business activity in the U.S. following Trump’s election victory.
Trump’s mention of XRP has sparked discussions about whether his administration if re-elected, could be more favorable toward cryptocurrencies, particularly XRP.
This has led to renewed optimism among investors, who speculate that regulatory clarity could boost adoption and price growth.
Also Read: Polymarket Bets On XRP ETF Approval In 2025 With 82% Probability Amid Grayscale Filing For XRP ETF
XRP’s Price Actions and Bold Predictions
As of now, XRP is trading at $2.60, reflecting a 1% increase over the last 24 hours. Its global market cap stands at $150.57 billion, with a 24-hour trading volume up by 6.96%, suggesting heightened market activity.
Ali Martinez has previously made a bold prediction that XRP could reach $15, based on technical indicators. He pointed to a breakout from a symmetrical triangle pattern, a formation that often signals major price movements.
Ripple vs. SEC: Legal Resolution on the Horizon?
The case between Ripple Labs and the U.S. SEC may be approaching its conclusion. Legal expert Jeremy Hogan recently suggested that a settlement could be reached before an XRP ETF gains approval.
A favourable resolution could provide regulatory clarity, allowing institutions to adopt XRP more freely and potentially driving its price higher.
The recent whale activity, Trump’s social media post, and growing optimism around the Ripple vs. SEC case have created a wave of excitement in the XRP market. With bullish predictions and increased investor confidence, XRP appears to be gaining momentum.
Also Read: Demand for XRP Surges 40% in Q4 2024 as Regulatory Cloud Lifts: Report