XRP whales have accumulated 250 million coins this week, reflecting their confidence into the asset.
XRP price has continued to stay in the green on Thursday, and hovered near the $3 mark.
This recent surge suggests that investors are putting their bets into the asset after it witnessed a choppy trading scenario over the past few days.
In addition, Ripple whales are also betting heavily in the crypto, which might have further helped push price further.
Notably, this comes as the macroeconomic concerns, like the US government shutdown, have spooked investors.
It appears that the investors are taking shelter under safe-haven assets like Bitcoin, altcoins, and gold.
For context, Bitcoin price neared $119k during writing with 2% gains over the last 24 hours, while the top altcoin by market cap, Ethereum price, soared around 3%.
Amid this, top experts suggest that the XRP price is poised to hit $3.3 in the near future, before continuing its rally further.
However, to reach that level, the analysts have highlighted key resistance levels ahead that the asset must breach.
XRP price has added around 3% today and exchanged hands at $2.98, while its trading volume soared about 1% to $6 billion.
The crypto has touched a 24-hour high and low of $2.99 and $2.92 in the last 24 hours. This latest surge suggests that Ripple coin has found support at $2.9, which has sparked optimism among traders.
A flurry of market pundits have highlighted this $2.9 level as a crucial support, which might help the crypto for a robust rally in the near future.
Meanwhile, the on-chain data also reflects the bullish sentiment among traders. According to CoinGlass, XRP Futures Open Interest soared past $8 billion mark.
On the other hand, the whales are also betting heavily on the asset, which might have contributed to the recent gains.
In a recent X post, analyst Ali Martinez said that Ripple whales have accumulated 250 million XRP this week.
So, here we take a look at the potential levels that the crypto must breach to soar past the $3 mark and continue its move to the north.
The soaring bets from the Ripple whales, which have triggered the recent rally, have lifted the market sentiment.
However, amid the volatile scenario in the broader financial markets, market watchers are looking for the next move of the XRP price.
Amid this, several market pundits have shared key insights on the potential future movements of the coin. For context, in a recent X post, EGRAG CRYPTO has reiterated its targets for the Ripple coin price.
The expert said that the XRP price is poised to hit $3.07 first. Besides, the next targets sit at $3.13 and $3.3, but with a condition.
According to EGRAG CRYPTO, Ripple XRP price must hold above each of these levels for at least three consecutive days to make them a rigid support.
Echoing a similar sentiment, Ali Martinez said that $2.93 is a crucial support for XRP. If XRP price can manage to hold this level, it could bounce back to $3.15 in the near future.
Considering all these factors, it seems that the market experts have turned bullish on the future trajectory of the asset.
Expert Steph is Crypto also said, “Massive breakout incoming.” predicting a potential surge to $4.6.
In addition, the optimism over a potential approval of the XRP ETF by the US SEC has further bolstered market sentiment.
Simultaneously, the “Uptober” sentiment also suggests that the digital assets are poised for a strong rally in the final quarter of the year.
However, with the current macroeconomic uncertainties and other factors hovering in the market, investors should tread cautiously while putting their bets.
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