XRP targets $2 as whales buy $2.2 billion, technicals signal rally

Technical pattern targets $2 breakout

Ali Charts, a well-followed market analyst, identified a developing inverse head-and-shoulders formation on the XRP daily chart. The neckline of this pattern currently sits at $1.55, positioned as a crucial resistance level. If XRP confirms a breakout above this threshold, the technical projection points to a potential 35% rally toward the $2 mark.

The setup, however, remains incomplete. Ali Charts noted that XRP first needs to establish the right shoulder of the pattern and then attempt to close decisively above the $1.55 resistance before a sustained move can develop. Until that breakout occurs, the bullish structure stays unconfirmed and the price action is likely to remain volatile.

On the daily chart, XRP appears to be forming the right shoulder of an inverse head-and-shoulders. The neckline sits near $1.55. A confirmed breakout above that level could validate the pattern, supporting a move toward $2.

Whale accumulation surpasses $2 billion

In addition to technical signals, XRP has attracted significant buying from large holders over the past 96 hours. Ali Charts reported that whales accumulated approximately 1.54 billion XRP, with a total value around $2.2 billion. This level of accumulation often suggests that market participants with greater resources are positioning themselves for potential moves.

Such pronounced accumulation coincides with repeated attempts by XRP to challenge resistance zones, aligning technical setups with increased investor interest on the network. Market watchers view these movements as an indication of possible upcoming volatility.

Whale activity on the XRP network has surged over the past 96 hours, with large holders adding roughly 1.54 billion XRP, worth about $2.2 billion. This notable accumulation spike could soon translate into price action.

Key Fibonacci levels and market signals

Another perspective comes from analyst ChartNerd, who highlighted XRP’s test of key Fibonacci retracement levels. ChartNerd observed that XRP recently broke out of its descending resistance structure, crossing the 0.382 Fibonacci level. The next significant areas to watch lie between $1.45 and $1.51, where the 0.5 and 0.618 Fibonacci pockets converge and historically act as decision points for trend continuation or reversal.

Further analysis of the weekly chart shows XRP trading tightly between the 20 and 50 moving averages for nearly five weeks. The critical dynamic support of the 50-week EMA, positioned at $1.51, adds to the significance of this range. ChartNerd suggested that a strong weekly close above $1.51 would offer confirmation of a continuation to the upside, while rejection could see XRP return to previous consolidative ranges.

As traders monitor these key technical setups and accumulation patterns, attention has also shifted towards meme tokens as a hotbed for rapid market shifts.