XRP’s price action has been choppy in recent weeks, weighed down by heavy selling from large holders. Yet, according to one prominent millionaire crypto trader, the token is currently on the verge of a major breakout.
Whale Activity Sparks Concern, But Traders Remain Confident
According to veteran crypto analyst Ali Charts, large investors have sprung into action, dumping over 280 million XRP tokens over the past week. The analyst revealed this information in a recent X post, highlighting a chart from Santiment.
The sell-off, which possibly shuffled across multiple exchanges, triggered fresh concerns about downward pressure on the token, which has struggled to sustain momentum despite broader market rebound.
Interestingly, whale selling usually signals caution, as it can reflect profit-taking or a shift in sentiment among large holders. The recent transfers also coincided with a mild pullback in token’s price, fueling debate within the community about whether the asset is preparing for deeper declines or winding up for a reversal.
“XRP Is About to Take Off,” Trader Predicts
Meanwhile, amidst the uncertainty hanging over XRP, a prominent crypto trader, Gordon, has remained bullish on the token, emphasizing that it is due for a takeoff.
Gordon expressed his optimistic sentiment in an X post, pinning his bullish speculation on its past price performance, stating that history doesn’t always repeat, but it often rhymes.
Furthermore, Gordon also highlighted a chart that shows XRP’s price movement over time. According to the chart, the token often finds support around the $ 1.80-2.00 region, after which it bounces back to initiate an uptrend. According to a prominent trader, if history rhymes, the token is poised to surge past its all-time high to the $4 region.
Interestingly, Gordon’s remarks quickly gained traction within the crypto community, especially among XRP holders who are convinced that the asset is overdue for a significant rally following prolonged consolidation.
Market Outlook: Countdown to a Breakout?
Meanwhile, despite uncertainties, interest in XRP continues to rise as more institutions view it as a viable financial instrument. Interestingly, XRP ETFs have now recorded a total net inflow of over $970 million.
Further regulated institutional asset custodian Hex Trust recently announced that it is set to launch a wrapped XRP asset (wXRP) on multiple blockchains, including Solana.
Additionally, like Gordon, several market experts are optimistic that the token is preparing for a massive breakout. One such expert is Javon Marks, who, in an X post, speculated that the digital asset could surge to $14 as XRP prepares to outperform BTC by 600%.
Temitope Olajide
The CoinRemark Team
