A massive whale transaction has reignited bullish speculation in the XRP market. On-chain data confirms that 66.9 million XRP tokens, valued at over $143 million, were recently moved between two unidentified wallets. The high-stakes transfer comes as XRP continues to hold above a key psychological support level at $2.00, raising questions across the crypto community—is a breakout to $2.60 next?
Whale Activity Raises Eyebrows
Large-scale movements by whales often serve as a precursor to volatility, and this transfer is no exception. Though the tokens were moved between unknown wallets and not directly to an exchange, the size and timing have fueled market speculation.
Supporting this narrative, XRP exchange reserves have increased by 5.9% in the last 24 hours, now totaling $6.066 billion. While rising exchange reserves often hint at potential selling pressure, they can also signal strategic repositioning by large holders anticipating a significant market move.
Technical Outlook: Breakout Brewing Above $2.00
A glance at XRP’s price chart reveals a bullish pattern forming, as the token has successfully bounced from the $2.00 support level for the third time since early March. This sequence of higher lows is typically a strong technical indicator of an impending breakout.
Should the bulls clear the $2.61 resistance, analysts believe XRP could quickly surge toward the $3.39 zone, continuing its broader uptrend and attracting fresh momentum traders along the way.
On-Chain Engagement Signals Growing Momentum
Beyond price action, network activity is on the rise:
- Active addresses climbed by 0.92% over the past 24 hours, now totaling 21,057.
- Transaction count rose 0.96%, exceeding 1.94 million.
This increase in user engagement often correlates with strong price performance and underscores growing interest in XRP’s market dynamics.
Liquidation Heat Map Highlights Crucial Price Levels
Binance’s liquidation heat map reveals dense short positions clustered between $2.15 and $2.25. These zones could act as resistance in the short term but also represent potential springboards for a breakout. If XRP surges past these levels, it may trigger short liquidations, creating a cascade effect that fuels rapid upward movement toward $2.60 and beyond.
XRP’s Momentum Is Building
With whale transfers, bullish technical formations, and rising network activity, all signs point to a potential breakout in the near term. Unless XRP falls below the critical $2.00 support, its current trajectory suggests a move toward $2.60 is not only possible—but perhaps imminent.
As always, traders and investors should monitor key resistance levels, market sentiment, and broader macro trends. But for now, XRP appears to be gaining steam, and the next few days could prove pivotal.
