- Whale activity, with over 1.1 billion XRP accumulated, indicates strong confidence in XRP’s long-term growth, supporting its potential to hit $4.
- A bull flag pattern and historical trends suggest XRP could rally beyond $4, despite short-term corrections or volatility.
Following key patterns identified by crypto experts in a previous CNF update, XRP’s price could potentially hit $4. This projection is particularly notable as XRP whales have significantly increased their holdings despite a recent market downturn.
According to on-chain data from Santiment, whales holding 1 to 10 million XRP added 100 million tokens during a 27.2% price dip, deploying up to $200 million to boost their total holdings from 4.71 billion to 4.8 billion XRP.
Over the past month, these whales have accumulated an additional 1.1 billion tokens, reflecting a broader trend of consolidation even as XRP’s price ranged from $0.50 to $2.87. This strategic accumulation underscores strong confidence among major investors in XRP’s long-term potential.
Bull Flag Pattern Hints at $4 Target
Technical patterns suggest a bullish outlook for XRP. A new bull flag formation has emerged, signaling the possibility of a rally beyond $4 after a brief correction. In his tweet, analyst Ali Martinez, recently referencing the TD Sequential indicator, also predicts a near-term pullback before a sharp upward breakout.
In the recent dip, whales bought over 100 million $XRP! pic.twitter.com/xU2YscIkvj
— Ali (@ali_charts) December 11, 2024
Historical trends support this view, with similar patterns previously driving XRP from $0.69 to $2.87 after successive consolidations. If the current trend holds, XRP could potentially reach $4.40 in the next rally phase.
Short-Term Volatility Before Rally
Ripple (XRP) is currently trading at $2.41, having retraced slightly, dipping 0.36% in the past day and 3.15% in the past week. This minor pullback aligns with the expected correction highlighted by Martinez.
However, whale activity and strong technical indicators suggest XRP is poised for a significant rebound, with the next phase likely pushing the price toward $4 or higher. See the XRP price chart below for further market insights.
