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XRP price has set its sights on the $3 target following a recent decline. The cryptocurrency dipped to around $2.2 during this downturn. Amidst this rise potential, a significant whale transfer of 20 million XRP has drawn attention.
Positive Outlook from Analysts
Cryptocurrency analyst Justin Bennett stated that XRP is ready to surpass $3. His chart indicates that if XRP breaks out of the consolidation triangle, it could reach $3.3 in the next wave of upward momentum.
Recently, a whale transferred 20 million XRP (valued at $47.2 million), capturing the community’s interest. On-chain data reveals that this whale moved the amount from an unknown wallet to Bitstamp exchange. Transfers to exchanges are typically viewed as negative signals, as they may indicate the whale is considering selling these coins.
Future Price and Support Levels
Crypto analyst Dark Defender noted that a price correction for XRP was expected, emphasizing that $2.13 and $2.27 are key support levels to watch. XRP continues to remain above these levels, indicating that the cryptocurrency is still in an upward trend and readying itself to surpass the $3 mark projected by Bennett.
CrediBULL Crypto analyst pointed out that XRP’s price movements are currently among the most bullish. The analyst remarked on the strength of the cryptocurrency’s structure, indicating genuine momentum behind price increases.
The analyst noted that 20% price corrections are normal and should be viewed as buying opportunities. A drop below $1.30 could invalidate XRP’s current upward structure. In this context, CrediBULL Crypto forecasts that XRP’s price will rise significantly higher, potentially reclaiming its all-time high of $3.80 soon.
Dark Defender recently indicated that XRP is attempting to break through the $2.38 level. If the cryptocurrency succeeds in surpassing this level, the analyst predicts a next target of $2.92. Additionally, with Bitcoin 
$106,687‘s price anticipated to exceed $100,000, it is believed that altcoins like XRP may continue their upward trend.
Investors should closely monitor XRP’s support levels and whale movements. Staying above support levels indicates that the cryptocurrency remains in an upward trend, while large whale transfers can influence market dynamics. Analysts’ positive outlooks point to XRP’s potential rise, but it is crucial to consistently assess market conditions.
