XRP price recovery teases a bull cycle within a broader pattern to reach the $3.87 mark for a potential breakout rally.
With Bitcoin trading near the $89,000 mark, XRP has recorded a 24% surge in the past seven days. However, the XRP price trend has witnessed massive fluctuations along the way and is currently trading slightly above the $2.50 psychological mark.
With a market cap of $146 billion, the XRP price has witnessed an intraday pullback of nearly 3%. However, the chances of a post-retest reversal tease a massive bull run in the XRP prices.
XRP Price Analysis Teases Bullish Turnaround
In the daily chart, the XRP price trend showcases a bullish breakout of a local resistance trend line. The resistance trend line was formed within a larger right-angle ascending broadening wedge.
The intraday candle currently reveals a lower price reaction from a 24-hour low of $2.37. Currently, XRP trades at a market value of $2.52, hinting at a post-retest bounceback in XRP.
Crypto Whale Makes $56M in XRP Profits
Based on the data by Nansen.ai, a crypto whale has recently deposited 2.65 million XRP tokens. The valuation of the deposit is counted at $67.65 million and marks the first deposit of the whale after 2.3 years.
A whale deposited 26.5M $XRP worth $67.65M into #Binance after 2.3 years, gaining $56.87M in profit.
The whale accumulated 25.12M $XRP ($10.77M) from #Binance between April 22, 2022, and Nov 24, 2022, at an average price of $0.429.
The whale added these $XRP to a liquidity pool… pic.twitter.com/bXgQX5B0kZ
— Onchain Lens (@OnchainLens) March 7, 2025
With this deposit, the whale has marked a huge profit of $56.87 million. Initially, the whale accumulated 25.12 million XRP tokens worth $10.77 million from Binance. The buying spree expanded between April 22, 2022, and November 24, 2022.
The average cost of the buying was $0.429. After the purchase, the whale added the XRP tokens to a liquidity pool with BNB. With investment into the liquidity pool, the whale earned an additional 1.38 million XRP tokens.
XRP Price Targets $3.87
As XRP hints at a post-latest reversal, the profit booking from a long-dormant crypto whale warns of a potential consolidation or a downfall. Nevertheless, the technical analysis hints at a bullish rally, potentially towards the $3.87 mark.
This price projection comes from the trend-based Fibonacci levels, pending a crucial price target near the overhead resistance line. On the flip side, the crucial support for XRP remains at the $2.14 demand zone, followed by the $2.00 psychological mark.