Recently, the cryptocurrency market has seen price increases for XRP and ADA, despite active sell-offs by large investors, while ETH is positioned for a potential breakout.
XRP's Situation
Over the past week, Ripple's token (XRP) experienced a significant uptick, rising by 7% to $3.07. This coincides with an overall altcoin recovery, leading some analysts to predict that XRP has not yet reached its peak.
X user Ali Martinez outlined two potential scenarios for XRP: one is breaking above $3.05 and reaching $3.60, while the other involves a correction to $2.80, followed by a rise above $2.90 and then a surge to $3.60.
Other analysts, such as CRYPTOWZRD and Dark Defender, are even more bullish. The former believes XRP could soon outperform Ethereum and hit a new all-time high of $4.50, while the latter envisions a jump to $6.
Interestingly, XRP's positive performance occurs despite recent wholesale sell-offs. Reports indicate that large holders sold off 40 million XRP in the last 24 hours, worth over $122 million, which is typically seen as a bearish sign.
ADA Trends
Cardano whales have also initiated active sell-offs, dumping about 140 million ADA (approximately $120 million) in the past two weeks. Despite this, ADA's price has risen by 9%, trading just below $0.90.
Some analysts, like X users Clifton Fx and Hailey LUNC, expect further bullish movement. Clifton Fx has set a target of $1.80, while Hailey LUNC forecasts a "parabolic move."
Furthermore, the negative netflow of ADA on exchanges in recent months suggests that investors are transitioning to self-custody, potentially supporting a bullish outlook.
ETH Outlook
Ethereum, the second-largest cryptocurrency, has also shown positive growth, although less pronounced compared to XRP and ADA. Currently trading around $4,500, ETH's volatility has been low in recent days.
Nevertheless, the Bollinger Bands technical analysis tool indicates that a significant price movement could be forthcoming. The bands have significantly squeezed lately, which historically precedes either a major rally or a painful correction.
Most analysts speculating on X believe the movement will be upwards. For instance, Ted thinks ETH is poised to surge to a new all-time high in the $8,000-$10,000 range in the coming months.
In summary, despite whale sell-offs, XRP and ADA continue to show growth, while Ethereum is preparing for a potential surge, indicating strong interest and activity in the cryptocurrency market.
