XRP Price Prediction: Targeting $3.00 as Whales Inject $730M of Capital

XRP is gaining strong bullish momentum, edging closer to the $2.60 mark. Currently, the cryptocurrency is trading at $2.44, still about 30% below its all-time high of $3.40.

XRP has been displaying strong bullish momentum, gradually edging closer to the crucial resistance level at $2.60. At present, XRP is trading at $2.44, still about 30% below its all-time high of $3.40. However, XRP stands out as an extremely traded digital asset.

Investors are putting a total of $3.27 billion in the space of one day to keep the digital currency alive at $142 billion, according to CoinMarketCap data. As the cryptocurrency maintains support above $2.50, analysts are predicting a move toward $3.00.

Following a recent setback in its legal battle with the U.S. Securities and Exchange Commission (SEC), Ripple, the creator of XRP, has settled with the agency.

After several years of an unresolved securities lawsuit, the cryptocurrency market saw a turning point as the SEC dropped its case against Ripple on March 19.

This legal dispute had caused significant confusion within the market, deterring major financial institutions from exploring investment opportunities in this domain.

Cryptocurrency investors are closely scrutinizing if XRP will manage to break through its crucial resistance barriers and if the token needs to experience a price correction shortly.

Large-scale investments constitute a leading factor that has recently boosted XRP’s price momentum.

Crypto whale investors have put approximately $730 million of funds into XRP.

The substantial investments demonstrate that institutional and high-net-worth investors show increasingly positive sentiment about XRP.

Analysts are currently speculating if this intense buying pressure from whales will drive XRP to surpass $2.60.

The cryptocurrency continues its active market participation within the daily price range of $2.41 to $2.50. Market analysts predict XRP will launch a price movement toward $3.00 after it maintains support at $2.50.

XRP might need to experience a temporary price correction because the current resistance level seems difficult to overcome.

The positive forecast for XRP originates from its recent legal defeat of the U.S. Securities and Exchange Commission (SEC).

Ripple, the XRP creator, faced an unresolved securities legal case throughout multiple years until it settled with the SEC on March 19.

The legal dispute caused market confusion that stopped major financial institutions from looking at this investment opportunity.

After receiving this legal victory, Brad Garlinghouse, the company’s CEO told FOX Business that the firm will now dedicate itself to developing its market reach throughout U.S. territories.

The U.S.-regulated exchange Bitnomial announced that it will introduce its first XRP futures contract under the approval of Commodity Futures Trading Commission (CFTC).

This milestone achievement introduces an officially regulated system which lets institutional investors conduct XRP trades. A rising demand for XRP cryptocurrency will occur through additional financial products.