XRP Price Surge: Hits Seven-Year High, Is $10 Next?

• XRP price reached $3.10, marking a 30% gain over two weeks and hitting a 7-year high
• Whales have accumulated 1.43 billion XRP tokens in the past two months, showing a 37.4% increase in holdings
• Analyst Ali Martinez identified a “bull pennant formation” and predicts potential $10 price target
• Current price faces resistance at $3.00 level, with brief surpass of $2.89 before settling around $2.75
• XRP outperformed other top cryptocurrencies with a 17% weekly gain, leading the top 30 by market cap

XRP’s price is at $3.10, marking its highest value in seven years. The digital asset showed strong performance with a 30% increase over the past two weeks, standing out even as other major cryptocurrencies struggled to maintain momentum.

Data from multiple trading platforms confirms that XRP’s price movement has been accompanied by heavy buying activity. Large investors, commonly known as “whales” in the cryptocurrency space, have added 1.43 billion XRP tokens to their holdings over the past two months, representing a 37.4% increase in their positions.

These whale investors, defined as entities holding between one million and ten million tokens, have continued their buying streak despite December’s earlier price peak. At current market rates, these holdings represent investments ranging from $2.75 million to $27.5 million per wallet.

XRP
XRP Price

Technical analyst Ali Martinez highlighted what he describes as a “bull pennant formation” in XRP’s price chart. This pattern, often seen as a positive indicator among traders, suggests the possibility of continued price increases. Martinez’s analysis of on-chain data revealed that over 1.10 billion tokens were purchased in the past week alone.

The current price action has drawn comparisons to XRP’s behavior in 2017. Analyst Dom pointed out similar patterns, noting that XRP spent about 25 days consolidating before its previous major rally. The present situation shows roughly 30 days of consolidation, leading some market watchers to anticipate comparable movements.

$XRP 2017 vs NOW (update)

This was a great fractal comparison and it's still playing out near perfect ‼️

I asked if it would be that easy and so far it has

I am not opposed to see some chop up here – I'll expand on this in a post soon – not guaranteed, but possible & healthy https://t.co/dEBiFKg4VA pic.twitter.com/ij2A2IRXMu

— Dom (@traderview2) January 15, 2025

Trading data shows XRP has settled around $2.93, as buyers attempt to establish this level as a new support zone. The $3.00 mark remains a key resistance level, representing a price point that hasn’t been maintained since 2018.

The cryptocurrency’s recent performance stands in contrast to other major digital assets. XRP has emerged as the top performer among the 30 largest cryptocurrencies by market value, posting a 17% gain over the past week. This comes at a time when market leaders Bitcoin and Ethereum have shown more modest price movements.

On-chain analytics firm Santiment reported continuous “enormous” accumulation by whale accounts. Their data indicates that large holders have maintained steady buying pressure throughout the past two months, even during periods of price volatility.

Short-term indicators present a mixed outlook. The TD Sequential indicator, used by many traders to identify potential market reversals, has displayed a sell signal on the 4-hour chart. This suggests the possibility of a price correction in the near term.

Recent trading sessions have seen XRP briefly surpass $2.89 before pulling back to current levels. The trading volume has remained elevated, indicating active market participation across various exchanges.

Market data shows that XRP’s price movements have occurred across multiple trading pairs and exchanges, suggesting broad-based buying interest rather than isolated activity on specific platforms.

The latest price action has pushed XRP’s market capitalization higher, strengthening its position among the top cryptocurrencies by total value. Trading volumes have increased across spot markets, with several major exchanges reporting heightened activity.

Price tracking services indicate that XRP’s volatility has increased compared to its 30-day average, though it remains lower than levels seen during previous major price movements.

Exchange data reveals that order books show substantial buy orders placed below current price levels, potentially providing price support. However, similar sell orders are clustered around the $3.00 mark.

The most recent trading data shows XRP maintaining prices above $2.75, with hourly volumes fluctuating between peak and normal trading ranges.