Analyst Sees XRP Price Rocketing to $8 as Whales Snap Up 150M Coins

Key Insights:

• Whales accumulate 150M XRP, fueling speculation of a major breakout.
• Analyst sees XRP hitting $8 if it clears key resistance at $2.83.
• Elliott Wave and cup-handle patterns suggest a strong rally ahead.

XRP price surged after Whales snapped up 150 million tokens in just 48 hours. The move has fueled speculation that a major breakout is on the horizon, with some analysts pointing to an $8 target if momentum holds.

Whale Accumulation Sparks XRP Hype—But Is It Justified?

When large investors start loading up on a token, people take notice. Over the past two days, whales have scooped up 150 million XRP, a strong signal that deep-pocketed traders see upside ahead. Similar accumulation phases have often preceded major price surges in the past, suggesting that smart money might be positioning itself ahead of a breakout.

XRP price hit $2.8 on Feb. 4, only to stumble as sellers took control. It’s since struggled to regain its footing, leaving traders wondering whether this latest rally attempt is different. Martinez argues that it is. He sees a clear technical pattern forming—one that, if confirmed, could send XRP through $2.83 and toward $3.39, $5.85, and possibly $8+.

XRP Price Chart Patterns Hint at a Major Breakout

Technical analyst Ali Martinez believes XRP price is on the verge of something big. He has identified a cup and handle pattern forming on the 30-minute chart—an indicator traders associate with strong breakouts. If XRP can clear resistance at $2.83, it could quickly gain momentum, with the next targets at $3.39 and $5.85.

Dark Defender, another respected crypto strategist, shares a similarly bullish outlook. He argues that XRP is following an Elliott Wave structure that suggests a powerful Wave 3 rally could be brewing. His support zones lie at $2.44 and $1.99, while resistance could stretch beyond $8 if the pattern holds.

The daily chart for XRP, published on TradingView, highlights a bullish Elliott Wave formation, with the token currently sitting at wave (4) support. The descending triangle breakout aligns with a classic wave (5) extension, meaning XRP could soon push toward $3.39 before attempting higher targets.

The Relative Strength Index (RSI) sits at 47.72, indicating that XRP is neither overbought nor oversold. This suggests room for further upside if buying pressure intensifies. The key support levels at $2.44 and $1.99 must hold for this bullish scenario to remain intact.

If XRP confirms the breakout above $2.83, the next major resistance levels are $3.39, $5.85, and ultimately $8+.

XRP’s price movement over the coming weeks will largely depend on whether it can break through resistance at $2.83. If that level is cleared, analysts are watching for a move toward $3.39, $5.85, and potentially $8.

Disclaimer

In this article, the views and opinions stated by the author or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.