Analyzing Ripple’s 14-week surge—Can XRP target $3 next?

• XRP’s BTC ratio has surged by 297% in the past 14 weeks, outpacing broader crypto market movements.
• Whale wallets holding 100K+ have increased by 261 since December, reflecting growing investor confidence.

Despite broader market stagnation, Ripple[XRP] has emerged as one of the standout performers. The XRP/BTC price ratio has climbed an astonishing +297% since early November 2024, showcasing strong bullish sentiment. 

Additionally, the number of wallets holding 100,000 or more coins has grown by 261 over the past 10 weeks, reflecting increased confidence from large holders.

But what does this mean for its future?

Whale and shark wallets are growing

One of the most significant trends supporting Ripple’s price action is the increase in large wallet holdings. 

Data from Santiment revealed that wallets containing at least 100K XRP have increased by +0.8% since early December.

This accumulation suggests that key stakeholders are positioning for potential future gains, reinforcing bullish sentiment around the asset.

Source: Santiment

XRP’s performance against Bitcoin

Analysis of the XRP/BTC chart shows that XRP has significantly outpaced Bitcoin over the last 14 weeks. This performance contrasts sharply with the broader crypto market, where most assets have seen lackluster price action.

Its resilience and continued accumulation by large holders raise the possibility of sustained momentum, especially if Bitcoin remains range-bound.

Is XRP overextended?

On the USD pair, XRP was trading at $2.6881, at press time, reflecting a 1.81% decline on the day but maintaining its weekly uptrend.

The 50-day Moving Average (MA) sat at $2.6778, while the 200-day MA was positioned at $2.3202—indicating a bullish trend structure. 

However, Bollinger Bands revealed that it was approaching its upper limit, suggesting potential short-term volatility.

Source: TradingView

At the time of writing, the Accumulation/Distribution (A/D) metric stood at 5.98 billion, reinforcing the ongoing buying pressure despite minor corrections.

If this buying trend continues, it could sustain its bullish trajectory, with a potential target near $3.00 in the coming weeks.

What’s next for XRP?

The market will monitor whether large XRP holders continue accumulating or start distributing. If the trend of growing large wallets persists, XRP could maintain its upward momentum.

However, a slowdown in whale activity or increased selling pressure could lead to a corrective move toward key support levels around $2.35.

With XRP showing significant resilience, investors should watch whale wallet movements and BTC market conditions, as they will likely play a crucial role in shaping its next big move.