CandleFocus

XRP Welcomes 511,430 Wallets Amid Price Pump with 2,365 Whale Transactions

XRP Welcomes 511,430 Wallets Amid Price Pump with 2,365 Whale Transactions
The price of XRP has been surging, reaching a 7-year high of $3.39 before retracing to $3.33. This increase in price has been accompanied by a rise in non-empty XRP wallets and whale transactions. Over the past two months, the number of non-empty wallets has grown by 511,430, and there have been 2,365 whale transactions exceeding $100,000. This suggests that both large-scale investors and new retail participants are driving the movement. An analysis by Ali Martinez highlights a breakout from a symmetrical triangle pattern that formed since 2018, with a potential price target of $15 for XRP. However, Martinez also notes the possibility of a retracement to the breakout zone around $2.40 and emphasizes the importance of monitoring the market with stop-loss strategy adjustments.

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