XRP Price Nears $3 as Ripple Whales Turn Bullish
XRP price has added around 3% today and exchanged hands at $2.98, while its trading volume soared about 1% to $6 billion.
The crypto has touched a 24‑hour high and low of $2.99 and $2.92 in the last 24 hours. This latest surge suggests that Ripple coin has found support at $2.9, which has sparked optimism among traders.
A flurry of market pundits have highlighted this $2.9 level as a crucial support, which might help the crypto for a robust rally in the near future.
Meanwhile, the on‑chain data also reflects the bullish sentiment among traders. According to CoinGlass, XRP Futures Open Interest surged past the $8 billion mark.
On the other hand, the whales are also betting heavily on the asset, which might have contributed to the recent gains.
In a recent X post, analyst Ali Martinez said that Ripple whales have accumulated 250 million XRP this week.
So, here we take a look at the potential levels that the crypto must breach to soar past the $3 mark and continue its move to the north.
Analyst Reveals How Ripple Coin Can Hit $3.3
The soaring bets from the Ripple whales, which have triggered the recent rally, have lifted the market sentiment.
However, amid the volatile scenario in the broader financial markets, market watchers are looking for the next move of the XRP price.
Amid this, several market pundits have shared key insights on the potential future movements of the coin. For context, in a recent X post, EGRAG CRYPTO has reiterated its targets for the Ripple coin price.
The expert said that the XRP price is poised to hit $3.07 first. Besides, the next targets sit at $3.13 and $3.3, but with a condition.
According to EGRAG CRYPTO, Ripple XRP price must hold above each of these levels for at least three consecutive days to make them a rigid support.
Echoing a similar sentiment, Ali Martinez said that $2.93 is a crucial support for XRP. If XRP price can manage to hold this level, it could bounce back to $3.15 in the near future.
Considering all these factors, it seems that the market experts have turned bullish on the future trajectory of the asset.
Expert Steph is Crypto also said, “Massive breakout incoming.” predicting a potential surge to $4.6.
In addition, the optimism over a potential approval of the XRP ETF by the US SEC has further bolstered market sentiment.
Simultaneously, the “Uptober” sentiment also suggests that the digital assets are poised for a strong rally in the final quarter of the year.
However, with the current macroeconomic uncertainties and other factors hovering in the market, investors should tread cautiously while putting their bets.