XRP Surges Past $1.60 on Whale Activity, Wallet Growth
XRP has shown renewed bullish momentum after breaking out of a recent technical pattern, driven by increasing whale activity and growth in user wallets.
Market analysts point to strengthening technical indicators supporting the token's recovery and expansion as the XRP Ledger (XRPL) ecosystem develops.
Ed_NL, a market observer, identified signs that XRP may be entering a new upward phase. He noted that the asset completed five sub-waves before undergoing an ABC correction, bringing the price into a key Fibonacci retracement area.
XRP rallied past a previous bearish pattern after touching the 0.786 Fibonacci retracement, signaling the potential start of a new upward trend. Ed_NL projects XRP could reach $4.40 under regular trading conditions, with further upside acceleration possible if momentum continues building.