XRP Price Targets $7 as Whales Move $283M in Shocking 24-Hour Surge

Massive whale movements totaling $283 million are driving bullish momentum for XRP, with analysts predicting a potential price surge to $7. Ripple's RLUSD stablecoin launch on December 17 adds to the growing market buzz.

Whales Move Millions in XRP Amid Market Activity

The last day has seen massive whale activity, with millions of XRP moving between wallets. Specifically, an unidentified wallet received 120,000,000 XRP, which is equivalent to about $283,000,000, from Binance.

Binance recorded a much larger transaction earlier in the day, sending 800,000,000 XRP to an unnamed wallet, with a value of $1.93 billion.

The involvement of institutional investors and ultra-wealthy individuals is shown by these substantial transfers.

XRP Whale Transfers Hint at Strategic Market Moves

The presence of whales in the water is a common indicator of potential market-moving strategic maneuvers. In light of forthcoming events, like the launch of the RLUSD stablecoin, analysts speculate that such trades may reflect a belief in XRP's long-term worth.

On the other hand, Ripple's stablecoin RLUSD is set to launch on December 17. The company has promised monthly third-party attestations to keep customers' money secure and transparent.

Analysts Predict XRP Price Surge to $7 or More

Analysts are making daring price forecasts for XRP as market activity heats up. According to EGRAG Crypto, a technical analyst, XRP's daily chart displays a positive trend. If the analyst's predictions come true, XRP might go for $7 to $8.

According to EGRAG Crypto, XRP's breakout could be influenced by Bitcoin's performance. They estimate that Bitcoin has to hit $120,000 to $130,000 before XRP experiences its next major rise.

Institutional Interest Bolsters XRP Growth Outlook

At the same time, XRP futures trading volume increased by 84% to $13.07B, while open interest increased by 6% to $3.80B, suggesting that trader interest has been heightened.

Furthermore, CrediBULL, an expert, has had a bullish long-term view on XRP, predicting that its market valuation might hit $1.2 trillion by the beginning of 2025. For XRP to reach its $22 price objective by the given timeframe, its current market cap of $143 billion and price of $2.51 would necessitate an 800% rise.

Strong inflows into digital asset investment products indicate that institutional interest in XRP is on the rise, Coingape points out. According to the most recent data compiled by CoinShares, the value of XRP purchased last week increased from $134.3 million to $145.8 million.

Regulatory Developments and ETF Filings Add Momentum

Expectations of regulatory clarity following the resignation of SEC Chair Gary Gensler have also contributed to the continuous strong attitude surrounding XRP. Also, the SEC is due to submit its main brief by January 15, which means that Ripple's protracted legal battle with the agency is getting close to a key point.

At the same time, the analyst has seen that crypto firms like Bitwise and WisdomTree have applied for XRP ETF approvals, which might support XRP's price surge because it shows increasing confidence in the cryptocurrency's potential.