XRP Whales Are Back and They Are Quietly Preparing for a $3.40 Breakout

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According to CoinDesk sources, the XRP price surge is again gaining attention after a strong V-shaped recovery, which happened after a big drop. Institutional investors took advantage of the lower prices and XRP to establish solid support at key levels.

During heavy trading, it fell to $2.307; XRP quickly bounced back and is now trading around $2.29; the technical patterns suggest that there is a possibility of a bullish trend toward $3.40.

This momentum has brought new excitement to the market; analysts see this V-shaped recovery and rise in open interest as a sign of strong support behind the XRP price surge.

Though the market conditions are unstable, XRP price surge has shown strength, which is increasing the supply of interest from the retail and institutional sectors.

Institutional Buyers Lead the Charge in XRP’s Rebound

One of the important factors behind the XRP price surge is the increasing involvement of large financial institutions. The open interest has risen by 53% and has reached $5.06 billion, which shows a large-scale capital inflow in XRP.

Experts say that this rise shows an increase in confidence in XRP’s short-term future, particularly after strong buying activity was seen between the price levels of $2.32 and $2.36.

Arjun Mehta, a digital assets expert at NeoQuant Capital, said that when big investors get involved, it usually happens before a major price surge. These experienced investors are usually the first to recognize bullish reversals.

Their confidence, along with the increased trading activity during key trading sessions, suggests that XRP might be getting ready for a larger upward movement if the market conditions stay positive.

Technical Indicators Reinforce XRP’s Bullish Outlook

Over the past 30 days, XRP has gone through a period of considerable price volatility, showing the vibrant nature of the crypto market. During this time, the coin reached a monthly high of $2.65 and dipped to a low of $2.04, showcasing significant price fluctuations.

As of the most recent update, XRP is trading at $2.29. This current price also represents its lowest point for the day, indicating pressure in today’s trading session.

Meanwhile, the intraday high stands at $2.44, suggesting some upward movement earlier in the day before the price corrected. The XRP price surge has started, but it gets an intraday downturn.

The $2.32 to $2.35 zone is a key support level, with the price now hovering right around it. On the upside, immediate resistance is seen at $2.43 to $2.44, while a stronger resistance lies ahead at $2.56 to $2.62.

The $2.69 remains a longer-term target, not an immediate one. Analyst sentiment for late May is cautious, with some warning that if the current support breaks, XRP could fall further to around $1.89 to $1.94.

This outlook comes despite the recent launch of CME futures for XRP a major event that could attract institutional investors but may also add short-term volatility, as seen with similar futures rollouts in the past.

Metrics	Value	Source
Current Price	$2.29	Coinmarketcap
Todays Highest Price	$2.44	Coinmarketcap
Resistance Level	$2.43–$2.44	Coinpedia/Binance
All-Time High (2018)	$3.84	CoinMarketCap
All-Time Low (2014)	$0.002802	CoinMarketCap

Analyst Sentiment and Price Forecasts Suggest More Upside Ahead

The XRP price surge has drawn interest from many analysts, who are predicting bullish price targets. XRP has formed a clear V-shape pattern on the charts and is gaining support as it moves up.

The next challenge is to break past the resistance level of $2.60. If that happens, then the price targets of $3.00 and $3.40 look more possible.

However, analysts also warned that in the past week, more than $40 billion worth of XFP was moved into exchanges. While this provides liquidity to the market, it could also lead to increased selling pressure in the short term. Hence, traders are advised to watch the volume patterns and market Sentiments carefully in the upcoming days.

Macro Forces and Regulatory Concerns Loom in the Background

Technical signals and market sentiment support the XRP price surge, but there are still broader factors present, like global economic uncertainty and Ripple’s ongoing legal battle.

These challenges might impact the XRP’s price movement in the short term and should not be overlooked.The quick rebound from the drip to $2.307 shows that many investors are staying confident and see these dips as opportunities to buy rather than a sign of trouble.

Conclusion

Strong technical signals back the XRP price surge, growing institutional interest and improving market sentiment. XRP started to go up from $2.307 and now has good support between $2.35 and $2.40, which might help it to climb higher, possibly towards $3.40.

But if it can’t hold that support level, then it might fall back to around $2.20- $2.30. Investors must be careful while investing, as the crypto market can change quickly.