The XRP price soared by over 8% after the U.S. Securities and Exchange Commission (SEC) filed its settlement agreement with Ripple. This development signals a potential conclusion to the prolonged legal battle, potentially providing clarity for investors. Amid the excitement, crypto analyst Egrag Crypto has identified a critical price range that could determine XRP’s next move.
Egrag Crypto: XRP Must Hold Above $2.41 – $2.50 for Bullish Breakout
According to Egrag Crypto, XRP is currently trading within a key range that will decide whether the altcoin confirms a bullish breakout. The analyst stated that XRP must close above the $2.41 to $2.50 range to confirm its breakout. Failure to do so could see the altcoin revisit lower levels, including the $1.3 to $1.2 zone, which Egrag Crypto described as a “once-in-a-generation buying opportunity.”
#XRP — Crossroads 🌿⚡:
— EGRAG CRYPTO (@egragcrypto) May 9, 2025
Section 1: XRP at a Crossroads: Critical Breakout Levels and Potential Retest
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🔲Cycle targets haven’t changed, so please avoid asking such question. ✅… pic.twitter.com/9YXpuytDXA
Despite the potential downside risk, Egrag remains optimistic that XRP could still rally to as high as $27 in the ongoing market cycle. Similarly, crypto analyst Dark Defender has also suggested that XRP is entering a phase where it could reach double-digit prices.
Ripple Whales Move $175 Million Worth of XRP Amid Price Predictions
Meanwhile, Ripple whales have been actively moving large sums of the coin. According to Whale Alert data, $175 million worth of the coin has been transferred, including a transaction of 46.4 million XRP ($106.6 million) between unknown wallets and another transfer of 29.5 million XRP ($69.5 million) to Coinbase.
Also Read: XRP Joins the Multichain Race: How Ripple Is Bridging Blockchains with Cosmos and EVM
Typically, whale transfers to exchanges are considered bearish, as they often signal impending sell-offs. However, the movement of the coin to unknown wallets suggests that some whales are accumulating, indicating a bullish sentiment in the market. As previously reported, Ripple whales have moved $782 million worth of XRP to unknown wallets, potentially preparing to hold their assets for the long term.
With the SEC settlement agreement now in play and whales positioning themselves, the coin remains at a pivotal point, with the $2.41 to $2.50 level as the key barrier to confirming a bullish breakout.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
