XRP Breaks $1 Barrier – Is $2 the Next Target Amid Whale Accumulation?

XRP is riding a wave of bullish momentum, climbing 110% this month to trade at $1.08 with a market cap of $61.3 billion.

The cryptocurrency recently broke out of a multi-month symmetrical triangle pattern, surpassing the $0.95 pivot point, which now serves as a crucial support level. This breakout sets XRP on a trajectory toward its next significant resistance at $1.16, with $1.33 being a potential game-changer. If cleared, a push to $2 becomes a realistic target.

Technical indicators, however, suggest caution. The RSI at 65.15 indicates strong bullish momentum but hints at overbought conditions. While the MACD remains positive, overextension could trigger a short-term correction before the next leg up.

Whale Activity Boosts Confidence in XRP’s Rally

Whale accumulation has played a pivotal role in XRP’s rally. Over 320 million tokens have been scooped up by large investors within the last 72 hours. Such massive buying has tightened XRP’s circulating supply, creating upward pressure on prices.

Historically, whale activity often precedes significant price moves, indicating that institutional confidence in XRP is growing. This accumulation, paired with the token’s increased adoption, could sustain the rally even if short-term corrections emerge.

On-Chain Metrics and Exchange Reserves Support Bullish Outlook

On-chain activity underscores XRP’s growing demand. Active addresses rose by 1.17%, reaching 27,421, while transaction counts increased by 0.92%, exceeding 1.88 million transactions. These metrics reflect heightened network engagement, a bullish signal for long-term growth.

Additionally, XRP exchange reserves dropped by 0.64% to 3.237 billion tokens. This decline suggests reduced selling pressure as investors move tokens off exchanges for long-term holding. Combined with whale accumulation, this trend sets the stage for further price appreciation.

Conclusion

XRP’s strong technical and on-chain metrics suggest it is poised to break above $1.33, potentially targeting $2 in the mid-term. However, overbought indicators warrant caution, as short-term corrections could test support at $0.95. With whale activity and declining exchange reserves in its favor, XRP remains a cryptocurrency to watch as it navigates critical resistance zones.

Key Insights:

• Whale Accumulation: 320M tokens acquired in 72 hours.
• Exchange Reserves: Down 0.64%, signaling reduced selling pressure.
• Targets: Breaking $1.33 could ignite a rally to $2.