XRP Price Nears Breakout To ATH As Whales Move $329M

Kelvin Munene Murithi
December 13, 2024 Updated June 2, 2025
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XRP Records $145 Million Inflow, Ripple's Coin Price to Hit $3?

Highlights

  • XRP whale transfers $329M sparking rally speculation to a new all time high.
  • XRP eyes $5.85 target, aligning with Fibonacci extension after bullish pattern.
  • Ripple's ongoing SEC litigation influences market, with key brief due Jan 15.

XRP price, despite a corrective phase in recent days, is projected to rally to a new all-time high after forming a bullish pattern. The cryptocurrency has fluctuated between an intra-day high of $2.48 and a low of $2.36 in the past 24 hours.

At the time of writing, XRP price stands at $2.35, marking a 3.52% decline from a critical resistance point. Amid this bearish movement, significant whale activity has sparked rally speculation to a new ATH in the market.

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XRP Whale Transfer to Coinbase Fuels Rally Speculation

A massive XRP transfer caught the attention of analyst as approximately 39.43 million XRP, worth around $95.5 million, was moved from an unknown wallet to Coinbase. The transaction has raised questions about potential large-scale sales, which could affect market liquidity. Concurrently another whale has transferred over 99,999,980 million XRP valued at $234,448,405 from an unknown wallet to an unknown wallet.

Subsequently, whale transfers of this size are often seen as potential market-moving events, especially when directed to major exchanges like Coinbase.

These movements align with ongoing bullish expectations for XRP price, as crypto analysts highlight that it is trading just below a key resistance level of $2.52. If this barrier is broken, the stage may be set for a bullish phase, supported by recent whale activity and technical analysis patterns.

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XRP Price Technical Analysis Points to New ATH

The current outlook for XRP price is influenced by the development of a bull flag pattern. Ali, a crypto analyst, noted that while XRP may see a brief correction, a potential breakout above $2.46 could send the price toward the $4 range.

This projection comes amid reports that the TD Sequential indicator, which has shown a sell signal on the 4-hour chart, could mean a short-term price decline before an upward move.

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Adding to this technical perspective, analyst Dark Defender pointed out that XRP has been navigating an ABC corrective wave pattern. This pattern is commonly observed during market consolidations prior to an upward trend continuation. In this case, Wave A and Wave C represented downward trends, while Wave B was an upward correction. If the price successfully breaks through the $2.52 resistance level, analysts predict a move to $5.85 in the near term.

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Market Eyes $5.85 as Potential Price Target

Should XRP price break through the immediate resistance, the next target is expected to be $5.85. This price point corresponds to a significant Fibonacci extension level, signaling strong resistance.

Dark Defender’s analysis highlights that surpassing this level would require XRP to exceed its historical high of $3.40, set nearly seven years ago. Achieving this milestone could bolster further bullish momentum and place XRP on a trajectory toward a higher price range.

The completion of the ABC corrective wave and the break above the daily resistance trendline would confirm the bullish scenario. A breakout could pave the way for potential gains, with projections reaching up to $18.22 in the long term.

Ripple Legal Developments Continue to Influence XRP Market

Ripple’s ongoing legal challenges have also influenced the XRP market. The company is engaged in the In re Ripple Labs Inc. litigation, where lead plaintiff Bradley Sostack has filed an appeal in the U.S. Court of Appeals for the Ninth Circuit.

The appeal challenges earlier rulings that favored Ripple and its CEO Brad Garlinghouse. Additionally, there are key upcoming dates in Ripple’s legal battle with the U.S. Securities and Exchange Commission (SEC), with a principal brief due on January 15.

Amid these developments, Ripple transferred 380 million XRP, worth more than $915 million, to a wallet coinciding with the company’s recent approval from the New York Department of Financial Services (NYDFS) for its RLUSD stablecoin.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Kelvin Munene is a crypto and finance journalist with over 5 years of experience, offering in-depth market analysis and expert commentary . With a Bachelor's degree in Journalism and Actuarial Science from Mount Kenya University, Kelvin is known for his meticulous research and strong writing skills, particularly in cryptocurrency, blockchain, and financial markets. His work has been featured across top industry publications such as Coingape, Cryptobasic, MetaNews, Cryptotimes, Coinedition, TheCoinrepublic, Cryptotale, and Analytics Insight among others, where he consistently provides timely updates and insightful content. Kelvin’s focus lies in uncovering emerging trends in the crypto space, delivering factual and data-driven analyses that help readers make informed decisions. His expertise extends across market cycles, technological innovations, and regulatory shifts that shape the crypto landscape. Beyond his professional achievements, Kelvin has a passion for chess, traveling, and exploring new adventures.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.