XRP whales have acquired 900 million tokens, valued at approximately $2.8 billion, amid projections of a significant price breakout to $12.60. Chart analyst Ali Martinez attributes this target to a multi-year symmetrical triangle breakout, supported by technical extension levels. The recent surge in XRP's price, reaching an all-time high of $3.65, is driven by improved regulatory clarity and increased institutional interest.
The large-scale acquisition by whales could impact exchange supply and market dynamics, suggesting potential bullish momentum. However, it also introduces the risk of volatility if selling occurs. Martinez's projection is supported by favorable fundamentals and a calmer regulatory environment, indicating a staged advance rather than an immediate spike.
XRP Whales Acquire 900M Tokens, Eye $12.60 Price Target
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.