By Nermeen Nabil Khear 
TLDR
- XRP has surged to $3.10, showing a 6% increase with analysts projecting targets of $4.6, $5, and potentially $8
- Ripple whales have accumulated 120 million XRP coins during recent market fluctuations
- Ex-Ripple executive Sean McBride hints at positive announcements coming at XRP Community Day
- Technical indicators and whale activity suggest building bullish momentum despite recent market volatility
- Discussions around a potential US digital asset reserve including XRP have intensified following Trump’s approval of a national digital asset stockpile
The cryptocurrency market witnessed notable movement as XRP reached $3.10, marking a 6% increase amid heightened whale activity and growing discussions about its potential role in a national digital asset reserve.
Recent data shows major cryptocurrency holders, known as whales, have accumulated approximately 120 million XRP tokens during the latest market movements. This substantial acquisition occurred as the price temporarily dipped to $2.74 before recovering, demonstrating strong buyer confidence at lower levels.
Trading volume for XRP has seen an impressive surge, climbing 81% to reach $13.6 billion in 24 hours. The increase in volume coincides with the price recovery, suggesting broad market participation in the current upward movement.
Technical analysis reveals several key resistance levels ahead, with experts pointing to $4.6 and $5 as the next major targets. These projections are supported by various indicators showing building momentum in the current price action.
$XRP
Medium Timeframe Analysis#Ripple‘s #XRP is getting one step closer to finally breaking for much higher levels. Remember, we have two possible pathways, both leading to at least $4-10, a level where I will be taking another 25% off the table for profits. pic.twitter.com/Pxd99B53AM— XForceGlobal (@XForceGlobal) January 28, 2025
The Futures Open Interest for XRP has increased by 9%, according to data from CoinGlass. This metric indicates growing trader engagement and could potentially support further price appreciation if the current market sentiment remains positive.
Former Ripple executive Sean McBride has added to the market optimism by hinting at upcoming positive developments. In a recent social media post, McBride suggested that the forthcoming XRP Community Day would bring welcome news to token holders, though specific details remain under wraps.
Market liquidation data shows approximately $340 million in short positions were cleared across major exchanges including Binance and Bybit. This massive liquidation event has contributed to the price volatility but may also set the stage for more stable price action in the near term.
The discussion around a potential national digital asset reserve has intensified following recent political developments. Polymarket data indicated a 16% probability of XRP inclusion in such a reserve, though this figure had reached as high as 47% on January 21.
Ripple CEO Brad Garlinghouse has weighed in on the reserve discussion, emphasizing the importance of selecting assets that represent the entire cryptocurrency industry rather than focusing on a single token. His comments came after meetings with key political figures and discussions about the future of digital asset regulation.
Some thoughts on maximalism… let me say this as clearly as I can – the crypto industry has a real shot, here and now, to achieve the many goals we have in common, IF we work together instead of tearing each other down. This is not, and never will be, a zero-sum game.
• I own…
— Brad Garlinghouse (@bgarlinghouse) January 27, 2025
The token’s price movement shows resilience, having recovered from recent market turbulence that affected the broader cryptocurrency sector. The bounce from lower levels suggests strong support from both retail and institutional investors.
Trading patterns indicate increased institutional interest, with several large-scale transactions recorded on major exchanges. This institutional activity often precedes sustained price movements and could influence future market direction.
Market analysts point to $3.37 as a crucial short-term target that could act as a pivot point for future price action. This level aligns with several technical indicators and historical price patterns.
The cryptocurrency has maintained consistent trading volume across major exchanges, indicating healthy market liquidity. This sustained trading activity supports price stability and enables larger transactions without excessive market impact.
New developments in Ripple’s business operations, including recently secured Money Transmitter Licenses in New York and Texas, have added fundamental strength to the market narrative. These regulatory approvals expand the company’s operational capabilities in key financial markets.
Daily chart patterns show the formation of several bullish technical indicators, including increased buying pressure at key support levels. These patterns often precede continued upward price movement when supported by strong volume.
Current market data shows active wallet addresses have increased, suggesting growing user engagement with the XRP network. This metric often correlates with sustained price appreciation in cryptocurrency markets.
The most recent price action places XRP in a position to test higher resistance levels, with market orderbooks showing decreased selling pressure above current prices. This reduced overhead resistance could support further upward movement if buying pressure maintains its current trajectory.
The post XRP Price: Token Maintains $3+ Level Despite Market Turbulence appeared first on Blockonomi.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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