## XRP Soars 57% in a Week: Whale Accumulation and Trader Optimism Fuel Rally
The cryptocurrency market is witnessing a resurgence of XRP, the token associated with Ripple, with its price surging a remarkable 57% over the past week. This dramatic climb has positioned XRP as the top performer among the major cryptocurrencies, leaving even Bitcoin and Ethereum in its dust. What’s driving this sudden surge? A confluence of factors, including increased whale accumulation and growing optimism among traders, is fueling the XRP rally.
Veteran crypto trader DonAlt, known for his insightful market analysis, has identified XRP as being in a monthly breakout phase. In his recent podcast update, he highlighted potential resistance levels at $1.50 and $3.60, representing 2x and 4x the current price respectively. While DonAlt acknowledges his reservations about XRP’s underlying fundamentals, he views it as a strong trading opportunity, particularly for those who are comfortable with XRP’s volatility. He also predicts the return of traders who actively participated in the crypto market during the 2017 bull run, adding further momentum to the current rally.
DonAlt’s analysis echoes the sentiment of other traders like Mikybull Crypto, who forecasts an even more significant rally for XRP, potentially leading to new all-time highs by March 2025. Mikybull Crypto emphasizes that the XRP train has already left the station, with further gains expected in the coming months.
Supporting this bullish outlook is data from Santiment, which reveals a significant increase in whale holdings. Wallets holding at least 1 million XRP now control a combined 45.61 billion tokens, marking the highest level since June 2018. This surge in whale accumulation underscores the strong underlying support for XRP, with whales adding 3.44 billion XRP to their holdings over the last two years, representing an 8.16% increase.
As XRP continues to ride this wave of optimism, all eyes will be on the upcoming Benzinga’s Future of Digital Assets event on November 19th, where the future of Ripple and XRP will be explored in depth. With growing institutional interest, strong whale support, and positive trader sentiment, XRP appears poised to continue its upward trajectory.
