The price of XRP has been in the spotlight following the transfer of $51 million worth of XRP by a cryptocurrency whale. This development provides a bullish outlook for the coin, considering that this category of investors can influence the price as they accumulate more XRP.
XRP price may rise due to whale movement
XRP price could rise as whales move to transfer $51 million worth of XRP. On-chain data shows that a transfer of 100 million XRP ($51.6 million) occurred between two unknown wallets. This is bullish as the transfer was not on an exchange as it suggests that the whale in question is trying to sell the coin.
Instead, by moving it to another wallet, the whale may have simply moved it for security purposes as it wants to keep it for the long term. This comes amid an appellate litigation between Ripple and the US Securities and Exchange Commission (SEC). This whale activity is positive for XRP and suggests that the lengthy legal battle is no longer impacting investor sentiment towards the coin.
Meanwhile, the whale activity follows crypto analyst Egrag Crypto’s recent prediction that XRP could soon reach $95. Factors such as a surge in whale activity could cause this unprecedented price spike. But for now, the focus will no doubt be on XRP finally succeeding in breaking through the $0.6 resistance level, and after Judge Annalisa Torres’ final ruling in August We have retested this resistance line many times.
How virtual currencies move according to the price of Bitcoin
Egrag Crypto provided another perspective on how XRP price moves along with Bitcoin price. The analyst claimed that if BTC rises to $100,000, XRP could reach $4.43. He said the 555% price increase likely reflects the previous cycle’s highs.
Furthermore, Eglag said that if BTC reaches $130,000, XRP will rise to $5.76, and if the main cryptocurrency reaches $150,000, it will rise to $6.64, and Bitcoin prices will rise to $170,000 and $200,000, respectively. He said that if the price rises sharply, it could reach $7.53 and $8.86.
The analyst noted that this price target between $4.43 and $8.86 is the worst-case scenario for the coin, as he believes the XRP price will rise higher than this. According to Egrag, XRP “still has great potential, worst-case scenario or not.”
Meanwhile, cryptocurrency analyst Dark Defender drew a correlation between XRP prices and Bitcoin prices, albeit from a different angle. In X’s post, he stated that a bull market for XRP will begin when Bitcoin’s dominance declines. He said this happened in 2017 and 2021 as well, and he doesn’t expect it to be different this time.
The attached chart he shared showed that the XRP bull market will begin next month and last until November 2025. According to the chart, XRP will reach double digits and rise as high as $99.
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Boluwatife Adeyemi
Boluwatife Adeyemi is an experienced cryptocurrency news writer and editor, covering topics spanning DeFi, NFTs, smart contracts, blockchain interoperability, and more, among others. Boluwatife has a knack for simplifying the most technical concepts and making them easier for crypto beginners to understand. Outside of writing, he is an avid basketball fan and part-time enthusiast.
Disclaimer: The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.
