- Whale activity and reduced exchange reserves signal growing demand for XRP.
- Institutional interest, including a rebranded XRP fund, strengthens confidence in long-term growth.
- Analysts predict XRP could rise to $3.31, $99 being the long-term target.
Ripple’s XRP climbed 6% recently as whales increased buying pressure. Over 700 million XRP tokens have been accumulated by major holders in just two weeks. Exchange reserves for the token on Binance and Upbit have dropped by 500 million during this period, indicating rising demand. Analysts believe XRP could soon reach $3.31, with the potential to soar to $99, marking a 69X increase from current levels.
Historical performance says there is a possibility for $XRP to reach $3.317, then $99.
$99 is a than 69X from here ⚡️! https://t.co/a55I3KcRop pic.twitter.com/QRpEiatXIL— JAVON⚡️MARKS (@JavonTM1) November 27, 2024
Whale Accumulation and Institutional Interest
Whales are fueling the current rally, showing renewed confidence in XRP. Lower exchange reserves suggest buying activity has spiked significantly. Whale wallets alone added hundreds of millions of tokens, signaling optimism for future price movements. Institutional backing has also played a role. Ripple recently partnered with Bitwise to rebrand a European XRP fund. This fund, fully backed by XRP, highlights the growing appeal of regulated crypto investment products.
Ripple Labs CEO Brad Garlinghouse noted the increasing demand for crypto-backed offerings, driven by clearer U.S. regulations. XRP’s rally gained traction after Donald Trump’s election win, pushing monthly gains above 180%. Momentum has been further boosted by talks of an XRP ETF in the United States. Experts believe such developments could lead to sustained price increases.
Prevailing Challenges and the Path to $99
Profit-taking has posed challenges, with over $1.5 billion realized by investors during recent gains. If more investors sell, this could pressure XRP’s price in the short term. Despite this, analysts remain bullish on the token’s long-term potential.
Predictions show XRP could reach $2.58 soon, breaking key resistance levels. A rise to $3.31 appears likely in the near future. Achieving $99 would require continued whale support, institutional interest, and broader adoption of crypto products.XRP’s journey reflects both resilience and optimism.
Backed by whales, institutions, and regulatory clarity, this token shows strong growth-potential. While challenges exist, market trends and historical performance suggest XRP could surpass expectations. Reaching $99 might seem ambitious, but the path forward remains promising for those willing to stay the course.
