Whale Bets Big on XRP as Breakout Nears

XRP appears to be on the verge of its most significant rally in years, as a mix of technical indicators, bullish analyst sentiment, and a major whale move signal growing market confidence in the digital asset. Following months of price consolidation and increasing institutional interest, XRP is flashing signs of an imminent breakout.

Fueling the bullish narrative, on-chain data shows a major investor made a decisive move on May 11. Wallet address 0x175e...b4 deposited $5.84 million in USDC into the HyperLiquid platform to open a 2x leveraged long position on XRP. This same whale has previously profited handsomely from a similar bet on Ethereum and currently holds over $10 million in floating gains—lending credibility to their latest wager.

Technical analysts are also sounding the alarm on XRP’s potential. Lark Davis highlighted the formation of a bullish triangle pattern that, if confirmed, could see XRP surge toward a breakout target of $4.40. This projection is backed by Fibonacci retracement levels drawn from the January peak to the April trough, adding to the technical confluence.

Meanwhile, analyst Michaël van de Poppe noted XRP’s recent 50% rally from the $1.75 support level as a pivotal move, suggesting the asset is now positioned to test previous all-time highs. “When things go vertical, that’s when you zoom out,” Poppe said, urging investors to take a broader view as XRP gains momentum.

Longtime XRP analyst Cobb sees 2025 as a transformative year for the asset. Brushing aside short-term fears driven by macroeconomic uncertainty, he argued that XRP’s extended 27-week consolidation phase sets the stage for a major breakout. With regulatory clarity improving, Ripple exploring strategic acquisitions—including a rumored partnership with Circle—and the broader ecosystem seeing real-world adoption, Cobb believes XRP could hit at least $11.34 by the end of the year.

Adding to the bullish outlook, XRP has recently accounted for 11.3% of the massive $3.59 billion daily trading volume on Upbit, outperforming both Bitcoin and Ethereum on the Korean exchange. This surge in volume, combined with growing leverage bets and strong technical setups, suggests that XRP’s long-awaited breakout may already be underway.