Will XRP Whales Book Profit on $1 Billion Stock?

XRP has been on a strong rally, reaching its highest level in more than three years. According to the latest data, the altcoin is trading more than 267% this month near $1.84.

A number of factors are fueling XRP's growth, most notably its role in the crypto payment market, which is attracting institutional interest and strengthening its long-term prospects.

XRP will continue to grow

The growth in XRP price has led to the increase in demand, but the altcoin rally is the result of a general change in attitude towards crypto assets. Juan Pellicer, senior researcher at IntoTheBlock, discussed this with BeInCrypto.

“XRP's had an exceptional price performance over the past 2 weeks, consistently outperforming many major cryptocurrencies. This outperformance is likely to continue, supported by XRP's strategic position in the global crypto payments infrastructure and improved sentiment following positive regulatory developments in the US in particular. The administration's increasingly constructive stance on crypto has created favorable conditions for XRP's adoption strategy, Pellicer told BeinCrypto.

The whale activity in the XRP market over the past two weeks has been remarkable. Owners of between 1 million and 10 million XRP have amassed over $1.12 billion worth of altcoins.

This massive rally reflects strong institutional and investor confidence, especially as XRP inches closer to the $2.00 mark. The whales' strategy indicates that they believe in XRP's long-term potential, which is critical to altcoin stability.

However, this significant stock raises concerns about profitability. Many market observers speculate that whales may start taking profits once XRP reaches a major price level.

Still, while the altcoin season has yet to truly open, whales can hold their positions and avoid premature selling. This could continue the upward momentum for XRP in the short term.

XRP Price Prediction: Multi-Year High

The price of XRP is up over 267% this month, currently at $1.84. The altcoin is approaching the psychological resistance level of $2.00, a key price point that has historically triggered major market moves. Reaching this level is a significant milestone that indicates the market's optimism and continued growth.

If XRP successfully breaks through the $2.00 level into support, it could increase demand, which will push the price higher. Support at this price point will attract more investors and set the stage for a push to higher price levels. Given the ongoing momentum, XRP is likely to mark new highs in the coming weeks.

However, if the market experiences a broader correction or profit-taking spreads among whales, XRP could pull back. In such a case, support at lower levels may be critical to maintaining overall blind attitudes. As it stands, XRP's price trajectory remains positive, with plenty of potential for further growth in the near future.