XRP experienced a significant 8% surge in price following the U.S. Securities and Exchange Commission’s (SEC) recent filing of its settlement agreement with Ripple. The move has sparked optimism among XRP holders as market analysts weigh in on the potential for a bullish breakout. According to Egrag Crypto, a notable analyst in the space, XRP needs to close above the $2.41 to $2.50 range to confirm a bullish breakout. Currently, the altcoin is hovering around crucial breakout levels while maintaining a range between $2.3 and $2.5.
Egrag Crypto warned that a failure to consolidate above the $2.3 mark could indicate that the price correction is not yet over. In such a scenario, XRP could potentially revisit lower support levels at $1.3 and $1.2. Despite this cautionary outlook, the analyst maintains a bullish stance, projecting XRP could rally as high as $27 within the current market cycle.
#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
Ripple Whales Shift $175 Million in XRP Amid Bullish Predictions
While analysts debate the next key levels for the coin, Ripple whales are making significant moves. On-chain data from Whale Alert reveals that a whale transferred 46.4 million the coin, valued at approximately $106.6 million, between two unknown wallets. Another transaction saw 29.5 million XRP ($69.5 million) moved to the top crypto exchange Coinbase, raising speculation of potential selling pressure.
Also Read: Ripple’s $44 Billion XRP Pump: How a Trump-Endorsed Crypto Reserve Pushed XRP to $3
Despite the mixed signals, the accumulation trend among Ripple whales suggests continued interest in holding the coin for the long term. CoinGape recently reported that Ripple whales moved $782 million worth of XRP to unknown wallets, signaling potential accumulation rather than immediate sell-off intentions.
SEC Settlement Could Be a Game-Changer for XRP
The filing of the settlement agreement between the SEC and Ripple marks a crucial step toward resolving the years-long legal battle. A favorable outcome could provide much-needed regulatory clarity for the coin, potentially paving the way for the altcoin to solidify its position in the crypto market. As the market awaits further developments, all eyes remain on XRP’s key levels and whale movements for signs of a sustained 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.
