• Currently, the XRP long/short ratio stands at 1.10, indicating strong bullish sentiment.
• XRP could soar by 70% to reach the $4.50 level if it closes a daily candle above the $2.62 level.

Ripple[XRP], seems to be recovering after experiencing a significant price decline on the 13th of January 2025, and is poised for a massive rally.

The potential reasons for this bullish outlook include an upcoming political event, a recent bullish breakout, and the market’s recovery after a recent dip.

Crypto whale buys $76 million of XRP

This bullish outlook appears to be attracting investors and traders, leading to a significant accumulation of tokens.

On the 14th of January 2024, as the market began to shift, Whale Alert reported a significant transaction. A crypto whale moved 30 million XRP tokens worth $76.15 million from the Upbit exchange.

However, the wallet address remains unknown.

Bullish on-chain metrics 

In the cryptocurrency landscape, whenever sentiment shifts and whales begin moving assets from exchanges to wallets, it is considered a bullish sign. Additionally, traders have started showing increased interest and confidence in the asset, as reported by the on-chain analytics firm CoinGlass.

At press time, the XRP Long/Short Ratio stood at 1.10, indicating strong bullish sentiment among traders. At present, 52.50% of top traders hold long positions in XRP, while 47.50% hold short positions.

XRP price action with technical analysis 

The XRP daily chart reveals that this accumulation and the increase in long bets on the asset have occurred near a key resistance level.

However, several times in the past, the XRP price has reached this level only to face a price reversal due to market uncertainty and fluctuations.