Can XRP Price Hit $8? Analyst Says Huge Ripple Breakout Awaits

The post Can XRP Price Hit $8? Analyst Says Huge Ripple Breakout Awaits appeared first on Coinpedia Fintech News

XRP has been on an impressive price surge, hitting levels not seen since the 2021 bull market. XRP has broken past $1, with its price recently reaching $1.27, doubling in just seven days. This is a huge milestone for the cryptocurrency, making it one of the top players in the market once again. But what’s behind this sudden surge in interest and price?

For years, XRP has been undervalued, especially in the wake of its legal battles with the SEC. However, as the regulatory cloud begins to clear and Ripple’s position in the crypto space strengthens, investors are waking up to the untapped potential of XRP. Many analysts believe that XRP has been held back for too long, and now that regulatory clarity is on the horizon, it could see explosive growth.

Whale Activity: Big Players Are Betting on XRP

One of the most interesting aspects of this recent surge is the behavior of XRP whales. According to analyst Armando Pantoja, whales have been quietly accumulating XRP. In fact, in just one week, they bought a staggering 453.3 million XRP tokens, valued at approximately $526 million—making up 18% of the token’s circulating supply.

This level of accumulation hasn’t been seen in nearly three years, and it suggests that big players are positioning themselves for what many believe could be a massive breakout for XRP. Pantoja also mentions that Gary Gensler’s potential exit and Elliot Wave patterns are signaling a huge price movement for XRP in the near future.

Key Price Breakpoints: Is $3.84 in Reach?

According to him, XRP’s next key breakpoints are at $1.33 and $1.88. Once those levels are surpassed, it’s thought that the path could be clear for XRP to retest its all-time high (ATH) of $3.84. The analyst is also predicting targets between $8 and $30 for XRP in the coming months or years.