XRP has surged 19% from its recent low of $2.47, trading at $2.94 at reporting time. The rebound signals renewed market confidence, driven by significant whale accumulation and potential short squeezes.
Blockchain data shows substantial accumulation activity, including a single whale transfer of 20 million XRP and net exchange outflows totaling 29.38 million tokens. This suggests large holders are moving assets into long-term storage, reducing immediate selling pressure.
Technical analysts have identified $3.19 as the crucial breakout threshold. Surpassing this level could trigger further upside momentum toward $3.40, with a weekly close above the key ‘Bridge’ resistance zone being pivotal for sustaining bullish momentum.
Notably, XRP is forming a falling broadening wedge pattern—a technical formation typically preceding bullish breakouts. Key resistance levels to monitor are $3.19 and $3.45, where sustained breaches could accelerate gains.
Long-term projections remain ambitious, with analyst targets ranging from $4.89 to $48.90. Realization of these forecasts depends on continued accumulation patterns and favorable market conditions pushing XRP through identified resistance barriers.