Can XRP Price Hit $2.8 Despite Whale Selloff?

XRP price has taken the crypto market by storm, with its recent surge of over 4% in its last 24 hours’ value.

This indicates that the investors are regaining their confidence in the asset and continue to put their bets into the crypto.

It’s worth noting that the recent recovery comes despite a waning risk-bet appetite of the large investors, also known as whales.

For context, recent on-chain data showed that Ripple whales have aggressively offloaded their holdings as the XRP price slipped below $2.3 this week.

However, the recent recovery of the asset’s price to over $2.5 appears to have lifted market sentiment. Having said that, investors are now looking closely at the potential future movements of the coin.

In addition, Ripple CEO Brad Garlinghouse has further fueled discussions with his recent social media post.

Garlinghouse has lauded the recent developments of Ripple, highlighting the role of XRP in the blockchain firm.

So, here we take a closer look at the recent development and how high the crypto can go in the current cycle.

XRP Price Soars: Investors Shrug Off Selloff Woes

XRP price has added nearly 4% today and rested at $2.54 during writing, with its trading volume from yesterday rocketing 36% to $4.65 billion.

The soaring trading activity and the current surge indicate that market participants are actively putting their bets into the asset.

Notably, the crypto has touched its weekly high of $2.54 in the last 24 hours, while falling to as low as $2.4 in the one-day chart. Besides, the recent surge has allowed the crypto to offer 8% returns in the weekly chart.

However, the monthly chart still stayed in the negative territory, showing a loss of around 10% amid the hefty selloff.

Meanwhile, it’s worth noting that XRP price was in the top gainers list among the top players in the crypto space.

Besides, the recent rally also indicates that investors have shrugged off the Ripple whale selloff concerns.

For context, on-chain analyst Ali Martinez said that the XRP whales have offloaded 70 million coins in the last two days.

It seems that the recent pullback has spooked traders, which might have triggered the selling pressure in the market.

However, with positive market trends and comments from Ripple CEO Brad Garlinghouse, the investors might be regaining their confidence in the asset.

Ripple CEO Highlights XRP Role, Market Reacts

The recent surge in the asset’s price and bullish XRP price prediction could be attributed to the series of optimistic developments within Ripple.

For context, Ripple CEO Brad Garlinghouse recently highlighted the company’s latest acquisition of Hidden Road. It is now rebranded as Ripple Prime.

This strategic move enables Ripple to operate as the first crypto company with a global, multi-asset prime broker. It also paves the way for institutional customers to access digital assets on a larger scale.

Meanwhile, Garlinghouse lauds the significance of this acquisition, noting that it is one of five major acquisitions Ripple has made in the past two years.

Besides, he reiterated that XRP sits at the center of everything Ripple does, hinting that the crypto could benefit from these developments.

As Ripple continues to build solutions towards enabling an “Internet of Value,” investors might be taking the opportunity for a potential upside in XRP price.

Can XRP Price Recover?

Amid the ongoing surge, an XRP price prediction and bullish technical indicators caught the eyes of traders.

For context, Ali Martinez recently said that XRP is flashing a buy signal, suggesting a looming recovery for the crypto.

Previously, a flurry of experts said that XRP price must break through the $2.75 mark to continue its rally ahead.

However, expert Milkybull Crypto has shared a more ambitious XRP price prediction that has fueled the investors’ optimism.

For context, in a recent X post, the analyst said that Ripple coin “is in preparation for the final expansion phase this cycle.” Besides, he noted, citing historical trends, that the crypto is poised to hit at least $7 this cycle.

In addition, if the bulls remain in control, it could further extend the run to $11 or even $15.