Whale Bets Big on XRP

A major investor opened a 2x leveraged long worth $5.84M, signaling strong confidence in XRP's breakout.

A major investor has just opened a 2x leveraged long position on XRP with HyperLiquid for a total of $5.84 million.

This move signals strong confidence in the digital asset, especially considering it follows months of consolidation and growing institutional backing.

The investor, who appears to be a whale with an appetite for leveraged bets, previously took a 2x long on ETH, which currently has over $10 million in floating profits.

The same whale is now turning their attention to XRP, which is showing signs of a major breakout.

On May 11th, the address 0x175e7023e8dc93d0c044852685ac33e856b577b4 deposited $5.84 million in USDC into HyperLiquid to open the 2x long position on XRP.

This move is sure to add to the bullish momentum already building around the digital asset.

Recently, several analysts have pointed out that XRP is forming a bullish triangle pattern, with an upside breakout targeting around $4.40.

This projection aligns with Fibonacci levels drawn between the January high and April low, further fueling bullish sentiment.

Among the analysts weighing in is Lark Davis, who highlighted the triangle pattern and implied that a breakout could materialize soon.

Another analyst, who prefers to go by the username "Cobb" online, believes that the stars are finally aligning for a massive XRP rally in 2025.

A Long-Term XRP Holder Since 2017

Cobb, a long-term XRP holder since 2017, dismissed tariff-related FUD and said that XRP didn’t build a 27-week consolidation structure just to fall back to $0.60.

He also noted that a pro-crypto Trump administration, regulatory clarity from the FDIC, and Ripple’s aggressive acquisitions, including a potential partnership with Circle, are setting the stage for a strong breakout.

Cobb’s bare minimum target is $11.34 by year-end, with expectations of even higher prices.

With RLUSD, on-chain AMMs, meme coin TVL growth, and real-world integrations gaining steam, the XRP ecosystem looks poised for a parabolic rise.

Cobb believes that 2025 will be the year when this potential fully unfolds, leading to a massive rally that could see XRP revisit and break through its all-time highs.

Finally, another analyst, Michaël van de Poppe, noted that XRP has already surged 50% since bouncing off a key support level at $1.75, which he identified as a strong entry zone.

“When things go vertical, that’s when you zoom out and enter higher timeframes,” Poppe advised.

According to him, XRP will likely retest its ATHs soon.

This analysis aligns with the overall bullish sentiment surrounding XRP, especially given its recent price performance and the growing institutional interest in the digital asset.