XRP Price Eyes $4 Breakout As Whales Scoop Up 340M Tokens

Key Insights:

• Whales have added 340M XRP valued at $962M, indicating a strong price rally.
• The chances of ETF approval were at 87%, which in turn increases the potential for XRP to grow further.
• A breakout above $3.65 could propel XRP price to $4.60-$4.70, analysts say.

In the last two weeks, whales have stacked up on 340 million XRP tokens worth an equivalent of $962 million. This may be a sign of a price surge for XRP. On-chain data shows that $268 million was transferred off exchanges, alleviating selling pressure.

Additionally, the open interest (OI) hit $8 billion, indicating an increase in the number of traders involved. Funding has also become positive, which indicates a growing optimistic outlook.

Whale Accumulation Promotes XRP Sentiment

Whale activity has been a major catalyst for recent XRP price action. Analyst Davide Martini pointed out that whales purchased more than 340 million XRP tokens. This acquisition is worth around $962 million.

Out of this, $268 million has been removed from exchanges which is a bullish indicator. The resulting reduction in XRP circulating on exchanges means it would be more difficult for sellers to force the price down.

With whales buying in large amounts, the sentiment of the investor community has been positive. Open interest has exploded to $8 billion. This spike means that traders are wagering on more price changes. The rise in open interest is a sign that the market is confident.

XRP Price Coils Around Critical Support Level

Furthermore, Davide Martini  highlighted that XRP price has been consolidating near an important support line at $2.80 and has been forming a symmetrical triangle. This is usually a bullish sign, since price compressions usually result in breakouts. Many traders are looking for bullish reversal patterns.

If XRP price breaches above the triangle’s top resistance, then it is likely to surge towards the $4 level rapidly. This area is a strong resistance level. However, breaking above it would create a potential rally, and XRP price would go to new highs.

Odds for XRP ETF Approval Soar to 87%

Moreover, there’s increased optimism about XRP’s ETF.  Polymarket has an 87% confidence the SEC will approve an XRP ETF. This is up from last year, when the odds were much less likely to occur. Geraci and others feel the approval is a given.

The 16% increase in approval odds over the last year reflects increasing institutional endorsement. Factors such as the inclusion of XRP in the ETF market would create immense demand for the token, which would further positively influence its price growth.

A lot is going on with XRP’s ETF race.  Many issuers, such as Bitwise, Grayscale, and Franklin, have revised their applications in response to the concerns of the SEC. They have asked for money to allow XRP or cash creation and redemptions. This move could bring approval closer.

Many analysts expect the SEC to make a decision by October 2025, with approval possible soon. If this occurs, XRP price could rocket as institutional investment flows into the asset.

Analyst Outlook on XRP Price Breakout

Notably, according to crypto analyst CryptoWZRD, XRP price has been consolidating inside a symmetrical triangle pattern, which usually indicates a breakout. The important resistance level is at $3.65, and a breakout can develop above it with strong bullish momentum.

Meanwhile, the coiling pattern suggests an accumulation period, ready to be released into an explosive price move. More so, if the top altcoin can remain above $2.80,  the chances of a breakout are higher.

As XRP price moves towards the resistance at $3.65, traders will be looking for any signs of bullish momentum. A breakout above $3.65 would lead to a rally to $4.60 or above.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.