XRP Price Today May 5, 2025: Big Deal Worth $64 Million, Bullish Signal Strengthening?
Jakarta, Pintu News – The massive transfer of Ripple worth over $64 million by one of the Ripple whales has caught the attention of the market. Analysts predict a possible bullish breakout. The transaction involved moving 29,532,534 XRP from an anonymous wallet to Coinbase, signaling increased activity among large holders.
Here’s a complete analysis of XRP price movements today, May 5, 2025!
Whale Ripple Activity Increases
On-chain data confirms that Ripple whales have increased their position. According to Santiment, wallets holding between 10 million to 100 million XRP have added more than 200 million XRP last week.
This increased accumulation by Ripple whales is seen as a move by institutional investors preparing for a price change. Meanwhile, 23% of crypto investors in the US now own Ripple (XRP), making it one of the most recognized tokens in the country.
The likelihood of Ripple (XRP) ETF approval increasing to 80% according to Polymarket, as well as the planned launch of the Proshares XRP ETF on May 14, has increased optimism that the price of Ripple (XRP) could reach $3 again.
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Ripple (XRP) Price Analysis Shows Bullish Outlook
Currently, Ripple (XRP) is trading around $2.20 after recovering from its recent drop to $2.15. The price drop on April 30 triggered $13.9 million in long liquidations compared to only $1.49 million for short liquidations.
Crypto analyst Javon Marks commented on the situation, stating that with bullish signals on lower timeframes, there is a possibility of Ripple (XRP) prices rising again. Following the drop, the token’s futures open interest fell by around 4%, which may indicate risk adjustment by traders.
Nonetheless, the price of Ripple (XRP) remains above the 20-day simple moving average (SMA), which is now considered an important support level at $2.1677.
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Momentum Indicator Shows Mixed Signals
The Relative Strength Index (RSI) is currently at 52.44. This is still in the neutral zone but is slowly increasing, which may indicate increased buying interest. The RSI average is 54.08, and the small divergence between these levels is being closely monitored
The Chaikin Money Flow (CMF) is at -0.13, indicating some capital outflow, but remains close to the neutral line of 0.00. If the CMF moves into positive territory, it would signal a return of buyer strength in Ripple (XRP) prices.
The Bollinger bands have also narrowed, which often indicates that a breakout may happen soon. Traders are now watching for price movement above $2.31 with increasing volume, which would favor a bullish scenario.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
Reference
- Coingape. Ripple Whale Moves $64M as Analyst Predicts XRP Price Bullish Breakout. Accessed on May 5, 2025
- Featured Image: FXL Leaders
