XRP Soars 58% On The Week: What Is Going On?

Ripple’s XRP/USD rally is increasingly gaining momentum amid whale accumulation and increased optimism from traders.

What Happened: XRP surged 22% on Friday, bringing its seven-day gains to 57%. The seventh-biggest cryptocurrency in the world has outperformed the two cryptos over the past week.

Cryptocurrency	Price	Market Cap	24-Hour Trend	7-Day Trend
XRP XRP/USD	$0.8786	$50 billion	22.2%	+58.9%
Bitcoin BTC/USD	$88,310.05	$1.75 trillion	-0.8%	+15.9%
Ethereum ETH/USD	$3,029.91	$364.9 billion	-2%	+3.4%

Trader Notes: In a podcast update, vetern crypto trader DonAlt identified XRP as being in a monthly breakout phase.

He highlighted resistance levels at $1.50 (2x the current price) and $3.60 (4x).

While not a fan of XRP fundamentally, he sees it as a strong trading opportunity. DonAlt also predicts the return of 2017-era traders who feel comfortable trading XRP.

In his latest tweet, DonAlt stated that Dogecoin and XRP are the retail coins of old, outlining his entry levels for trading the altcoin.

If all goes well and $XRP does a lot of crime these are the levels I'm looking at pic.twitter.com/sW49QLkKBx
— DonAlt (@CryptoDonAlt) November 13, 2024

Another trader, Mikybull Crypto, foresees a massive rally taking XRP to new all-time highs by March 2025.

$XRP

The train has left already

Expect a massive rally to a new ath from now till March 2025. pic.twitter.com/tmQ4bkWv3U
— Mikybull 🐂Crypto (@MikybullCrypto) November 15, 2024

Statistics: Santiment data reveals wallets holding at least 1 million XRP now control a combined 45.61 billion tokens, the highest since June 2018. Over the last two years, whales and sharks accumulated an additional 3.44 billion XRP, reflecting an 8.16% increase.

What’s Next: The future of Ripple is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

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