XRP Whale Buying Ignites Short Squeeze Hopes Amid Growing Institutional Interest

XRP's recent price action has caught the attention of investors and analysts alike. According to Pluang, significant whale buying activity has been observed in XRP, with a total of 380 million XRP purchased near the $1 level. This accumulation is supported by a neutral RSI reading around 50, indicating that the altcoin is not overbought like some other cryptocurrencies.

In addition to this on-chain activity, institutional interest in XRP is growing. Aviva Investors has tokenized a fund on the XRPL, which has helped push the stablecoin market cap on XRPL closer to $1 billion. This rising liquidity and fundamental growth suggest that XRP may be undervalued and poised for a short squeeze.

Some analysts believe that XRP could rise towards $1.15 in the near future, citing the increasing institutional interest and the potential for a short squeeze. However, other predictions indicate that XRP may drop to the $0.80-$0.91 range before experiencing a bullish reversal and potentially reaching as high as $1.62.