Ripple’s native cryptocurrency, XRP, has experienced an impressive 11% surge in its price over the past week, reaching $2.41, as positivity among investors resurfaces.
However, a significant transaction involving approximately $782 million worth of XRP has caused a stir in the market.
This movement followed the recent interest rate decision made by Federal Reserve Chair Jerome Powell, which introduced volatility in both traditional financial markets and the cryptocurrency sphere.
Whale Transactions Fuel Market Speculation
A recent update on Binance Square revealed that a Ripple whale executed a transfer of around $782 million in XRP last week.
The wallet involved is believed to be linked to Ripple, intensifying speculation among traders and investors alike.
Despite the uncertainty surrounding this transaction, XRP has benefited from an upward trend in Bitcoin prices, which has lent momentum to altcoins across the market.
Additionally, sentiment among XRP whales appears to remain strong. Analytics firm Santiment reports that these large holders have accumulated more than 880 million XRP in the last month, valued at roughly $2.13 billion.
This surge in accumulation suggests that substantial investors might be preparing for a potential rise in XRP’s value.
Whales have accumulated over 880 million $XRP in the past month! pic.twitter.com/SQWf2U1yZB
— Ali (@ali_charts) May 8, 2025
Strengthening Fundamentals for Ripple
Ripple’s underlying fundamentals have also shown improvement.
The resolution of the long-standing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) after over four years is a major milestone for cryptocurrency regulation.
In March 2025, Ripple and the SEC reached a settlement that involved Ripple paying $50 million of the previously assessed fine, while the remaining $75 million would be returned to the company.
In addition, the XRP Ledger is gaining recognition among institutional investors.
Earlier this year, Ondo Finance announced the introduction of tokenized U.S. Treasury products on the XRP Ledger.
Their new offering, OUSG (Ondo Short-Term U.S. Government Treasuries), utilizes Ripple’s stablecoin RLUSD for the minting process.
This development signals a rising interest from institutional players in Ripple’s blockchain, which could bolster XRP’s long-term growth potential.
XRP Price Projections: Monitoring Key Levels
XRP experienced a notable rise late last week, reaching $2.47 on Saturday—the highest since March.
However, the price retracted by Sunday as selling pressure increased. On Monday morning, XRP began to rebound.
Technical analysis points to a cautiously optimistic outlook among investors. The Relative Strength Index (RSI) for XRP is currently at 62, indicating a bullish trend but exhibiting some caution compared to other assets, many of which have an RSI above 70.
Investors should keep an eye on the key resistance level of $2.50. A breakout above this threshold could pave the way for a push toward the March high of $2.94 and possibly the psychological barrier of $3.
On the flip side, immediate support lies around $2.30. A fall below this level could lead to a re-evaluation at the 30-day moving average of $2.20.
Long-Term Outlook for XRP
Many XRP investors are now eyeing a potential new all-time high surpassing $3.84, which would signify a 58% increase from current prices.
Key drivers for this anticipated rise include Ripple’s business growth, increasing interest in the XRP Ledger, and the possible approval of a spot XRP ETF.
With improving fundamentals, expanding institutional use, and ongoing accumulation by whale investors, XRP remains one of the most closely monitored altcoins within the cryptocurrency market.
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