XRP ($3.16) has shown a remarkable 12.8% surge in the last 24 hours, outperforming top cryptocurrencies like Bitcoin (BTC ($102,642.46)) and Ethereum (ETH ($3,180.11)). Ripple whales played a key role in this bullish momentum. Crypto analyst Ali Martinez revealed in a recent X post that Ripple whales purchased 120 million XRP during the latest market dip.
Whales bought 120 million $XRP in the recent price dip! pic.twitter.com/hDVAshQHQw
— Ali (@ali_charts) January 27, 2025
XRP’s Recent Price Trends
At the start of the year, XRP traded at $2.0813. From January 10 to January 17, its price skyrocketed by 44.72%, reaching a monthly peak of $3.4040 on January 16. However, the market faced a sharp 9.74% correction on January 19, and XRP has yet to fully recover.
Related article: XRP Tanks Below $3: Will the 9% Weekly Drop Lead to a $2.45 Target?
On January 22, buyers pushed the price up to $3.28, demonstrating resilience despite the correction. The recent market dip did not deter Ripple whales, who acquired 120 million XRP, as highlighted by Ali Martinez. Currently, XRP trades at $3.18, and crypto market expert Dark Defender forecasts a near-term price target of $3.62, aligning with the market’s bullish sentiment.
Source: CoinMarketCap
This move reflects unwavering investor confidence in XRP’s potential. Furthermore, Ripple’s acquisition of Money Transmitter Licenses in New York and Texas showcases growing regulatory acceptance in the U.S., which likely contributed to the token’s positive market momentum.
Exciting Announcements from Ripple’s Former Executive
Sean McBride, an ex-Ripple executive, teased significant developments in a recent X post. He hinted at major announcements during the upcoming XRP Community Day, fueling excitement within the XRP community.
Related article: Ripple’s Rally: XRP’s Stunning 36% Climb This Month
Interestingly, McBride predicted the launch of an XRP Exchange-Traded Fund (ETF) this year, which could further boost the token’s market appeal. McBride also speculated on a potential settlement between Ripple and the SEC in their ongoing legal battle. Analysts believe a resolution could drive XRP’s value to new highs.
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XRP’s recent performance, supported by Ripple whales and positive developments, underlines strong investor faith. With regulatory wins, anticipated announcements, and optimistic forecasts, XRP appears well-positioned for further growth in the near future.
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