XRP Traders Anticipate Explosive Rally to $5.85 as Key Support Holds Strong! | 2025
XRP Traders Anticipate Explosive Rally to $5.85 as Key Support Holds Strong!
XRP’s price is currently trading 28% above its recent lows of $1.94, which were reached on February 28. Over the last 24 hours, the altcoin has experienced a notable increase of 6.5%. Traders are keeping their hopes for a rally alive as XRP maintains its position above a crucial support level. This level corresponds to the 38.2% Fibonacci retracement of the significant rally that occurred in November.
Key Support Levels and Future Projections
Dark Defender, a well-known analyst, believes that this support level marks the “Wave 2 bottom,” and he is optimistic about XRP’s potential to move toward $2.60. He emphasizes that the key levels to monitor on the downside are $2.33 and $2.22, which must be sustained for XRP to continue its wave structure. If these levels hold, XRP’s price could embark on a fifth wave targeting an impressive $5.85. Such a move would represent a staggering 132% gain from its current price.
Historical Context and Fibonacci Extensions
According to Dark Defender, XRP has previously followed a classic Fibonacci extension pattern in 2017, where it breached the 161.8% extension level before making a parabolic move toward the 223.6% Fibonacci extension level. This historical context adds credibility to the current bullish sentiment among traders.
Surge in Onchain Activity
Recent onchain data from market intelligence firm Glassnode reveals a significant surge in active XRP addresses, which have skyrocketed by an astonishing 680% in the past week. The number of active addresses jumped from 59,900 on February 27 to an impressive 468,171 by March 4. This surge indicates a growing interest in XRP among traders and investors alike.
Whale Activity on the Rise
Popular analyst Brett has also noted that whale activity has increased in tandem with the rising onchain activity. Large investors have been actively accumulating XRP, with approximately 1 billion tokens purchased in the past 24 hours alone. This surge in whale activity is a strong indicator of confidence in XRP’s potential for future growth.
Daily Active Addresses and Market Sentiment
On March 4, daily active addresses exceeded 135,000, further signaling the growing interest in this altcoin. The combination of increased whale activity and a surge in daily active addresses paints a promising picture for XRP traders, who are eagerly watching for potential price movements.
Investment Caution
It is essential to note that this article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers are encouraged to conduct their own research before making any decisions. The cryptocurrency market can be highly volatile, and it is crucial to stay informed and cautious.
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