In the last week, the price of XRP increased by 35% as the general crypto market maintains a stellar performance stretching over the last two months. Interestingly, recent developments in the XRP market indicate a sustained bullish outlook for the prominent altcoin.\n<\/p>\n
In an X post on December 7<\/a>, renowned crypto expert Ali Martinez shared that XRP whales had embarked on an accumulation spree amidst a recent price dip.\u00a0<\/p>\n Notably, XRP has been one of the best-performing cryptocurrencies in Q4 2024 rising by over 350% since the US elections. However, the altcoin recorded a significant 23% decline in the past week, falling from $2.90 to $2.22 between December 3-December 6.<\/p>\n During this period, Martinez noted that whales i.e. wallets holding between 1 million \u2013 10 million\u00a0 XRP,\u00a0 acquired over 120 million XRP, valued at $288 million, as they increased their market holdings to $4.7 billion.<\/p>\n Generally, such large purchases by market whales are indicative of confidence in an asset\u2019s long-term profitability and are common bullish signals<\/a>. Rightly so, XRP has experienced an 18% price gain rising to $2.60 in the 48 hours following this bullish whale activity.\u00a0<\/p>\n In regards to how high XRP can go, Ali Martinez has set a projected target of $4.34<\/a> which may be a good price zone for traders to take profit. However, any unexpected price decline could force the altcoin to return to around $2.23 which Martinez describes as a \u201ckey area of support\u201d.\n<\/p>\n In other news, the number of on-chain active addresses on the XRP Ledger (XRPL) has recently recorded a significant increase.\u00a0<\/p>\nXRPL Active On-Chain Addresses Surpass 100,000<\/strong><\/h2>\n