Whale doubles down with $3.8 billion, will XRP rise to $10?
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Whale doubles down with $3.8 billion, will XRP rise to $10?
If both assets continue to rise at the same price ratio, XRP could potentially outperform Ethereum.
Navigating Web3 tides with focused insightsArticle by: BitpushNews
Over the past 24 hours, XRP has broken above $3 for the first time since 2018, continuing to lead the cryptocurrency market's rally in 2025. With a 15-day gain of 41%, it is outperforming all other top 10 cryptocurrencies.
According to CoinMarketCap data, XRP is now only 17% away from its all-time high of $3.84. At its current market capitalization of $170 billion, the token has surpassed asset management giant BlackRock in valuation.
This surge has been driven by expectations of crypto-friendly policies and regulatory reforms for digital assets in the United States, following years of legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple over the sale of XRP tokens.
Diego Cardenas, an OTC trader at digital asset platform Abra, said in a report: "This rally is being fueled by an increasing number of partnerships, the launch of Ripple’s stablecoin RLUSD, and speculation around a potential spot XRP ETF."
Last week, Ripple President Monica Long stated in an interview that she expects approval for a spot ETF to come "soon," as the new administration will accelerate the process. Furthermore, Ripple's leadership has engaged directly with the incoming U.S. government—CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty recently met with Donald Trump, signaling possible collaboration on shaping a favorable regulatory environment for digital assets.
In addition, the current price surge coincides with sustained accumulation by "whales" holding between 1 million and 10 million XRP tokens.
Data analytics firm Santiment noted that since November 12, addresses holding 1 million to 10 million tokens have accumulated 1.4 billion XRP, worth approximately $3.8 billion, continuing even during periods of price consolidation after the peak in early December 2024.
XRP Google Search Interest Surpasses Bitcoin
XRP’s price and its holders have shown strong resilience over recent weeks. Google Trends data shows that on January 15, global search volume for XRP exceeded that of Bitcoin. Over the past year, XRP has overtaken Bitcoin in search interest twice, with the previous instance occurring in November 2024.
Analyst: XRP Rally Driven by Spot Investors
In 2024, major assets such as Bitcoin and Ethereum saw record-high futures open interest, highlighting the importance of derivatives markets during bull runs. However, the recent rise in XRP has primarily been driven by spot investors.
Order flow analyst Dom stated that XRP’s retest of $3 was entirely powered by spot buying. He pointed out that during a weekly gain of 15% for XRP, funding rates and spot buy premiums did not significantly increase. Dom added: "If this were happening with Bitcoin, I’d say we’re clearly heading toward a massive breakout."
Meanwhile, some industry figures suggest that if both assets continue rising at similar rate ratios, XRP could potentially outperform Ethereum.
Jeth, co-founder of Sovrun, said there is now “no reason” to hold Ethereum. While Ethereum may have stronger “fundamentals,” XRP benefits from positive regulatory momentum, especially as the first pro-crypto U.S. administration prepares to take office on January 20.
From a technical standpoint, XRP shows strong bullish indicators, having broken out of its bull flag pattern after a 105% rally at the end of 2024. However, its Relative Strength Index (RSI) stands at 79.5, indicating the token is overbought and could face a short-term pullback or consolidation.
Technical analyst Dark Defender highlighted a “confirmed upside breakout” on XRP’s monthly chart via the X platform, drawing parallels to the 2017 bull market when XRP surged by 1,022%.
The analyst believes that based on Fibonacci retracement levels from the 2017 rally, XRP could reach $10.23 or even $18.23 in the near term—targets he says are achievable in 2025, whether it's a "moonshot" or a "mars shot."
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