XRP Price May Explode as US Investors, Whales, Back Ripple

The price of XRP is at a pivotal point after a recent report revealed that 23% of US crypto investors have invested in Ripple.

The price of XRP is at a pivotal point after a recent report revealed that 23% of U.S. crypto investors have invested in Ripple. Meanwhile, this altcoin has a 67% awareness rate, suggesting that its popularity is notably high. According to the National Cryptocurrency Association, XRP is the 6th most popular crypto in the U.S.

This data indicates that despite the SEC vs. Ripple lawsuit not being formally closed, investor confidence in the blockchain and its native token remains notably high. Hence, once the SEC releases an official statement on the settlement, 67% of U.S. traders who are aware of Ripple may flock to the altcoin, and spark a massive price gain.

However, this move will depend on the speed at which new traders are buying crypto. According to recent data from BuysCrypto, more traders are buying Bitcoin, Ethereum, Solana and Dogecoin than XRP.

This narrative is further supported by whale activity, as large investors have been accumulating this altcoin. In the last five days, whales, defined as those holding between 10M and 100M tokens, have increased their XRP holdings by 175M. As of May 3, these whales now hold a staggering 7.79 billion Ripple tokens.

The high rate of adoption by U.S. investors and the whale accumulation are bullish indicators and may lead to an explosive rally for the XRP price. Moreover, the technical outlook supports this positive narrative as the altcoin eyes fresh all-time highs.

Popular analyst VipRoseTr has shared a bullish forecast on XRP price, stating that it is nearing a breakout cycle. In her analysis, she noted that this altcoin was entering a long-awaited breakout from resistance that may spark a 2x surge in market capitalisation.

The analyst identified a descending trendline on Ripple’s weekly chart, noting that with the recent formation of higher highs, this altcoin was on the verge of breaking past a major resistance hurdle. If this breakout occurs at $2.58, XRP will form the next bullish leg that will push it to as high as $3.87.

Considering this bullish XRP price analysis and the recent whale acquisitions, the altcoin has the potential to make explosive gains. However, such gains will depend on the rate at which new traders will prefer to invest in Ripple over other popular cryptocurrencies.