XRP whales are bucking the trend with noticeable moves against the backdrop of uninspiring price movements of the cryptocurrency. The recent surge in XRP acquisitions has captured the attention of the cryptocurrency community, as large-scale investors have acquired the digital asset worth $228 million in a matter of days. Interestingly, this noticeable enhance in purchases comes on the heels of Grayscale XRP Trust Launched and sanguine price forecast XRP is predicted to potentially reach a price of $5 in the next six to ten months.

Whale accumulation increases amid sanguine forecasts

This invigorating move by XRP whales was revealed through cryptocurrency supply distribution on social media platform X by Ali Martinez. According to a chart from Santiment shared by cryptocurrency analyst, wallets holding between 10 million and 100 million XRP tokens recently increased their total balance to a September peak of 7.17 billion XRP after adding around $288 million worth of XRP tokens over the course of ten days.

Given the average altcoin price during this period, this means that this group of huge holders acquired around 390 million tokens, which is around 6.9% of the total circulating supply, which ended up in the hands of a few key players.

While the total balance of whales had fallen to around 7.11 billion XRP at the time of Martinez’s post, recent events point to further accumulation in the coming days. One of these events is the recent launch of the Grayscale XRP Trust, which already seems to be attracting institutional investors to the token.

However, despite the enhance in whale activity, XRP has not reflected the price jumps in other major cryptocurrencies after a favorable decision by the US Federal Reserve. The Federal Reserve’s 0.5% interest rate cut fueled a broader inflow into the cryptocurrency market, driving assets like Bitcoin AND Ethereum records significant gainsIn contrast, the price has I fought to get through USD 0.60 level, even with increased whale activity.

Ash Crypto Analyst predicted that altcoin could reach $5 in the next six to 10 months. This forecast is consistent with a broader backdrop of optimism in the cryptocurrency space, with multiple assets experiencing gains as the effects of the Federal Reserve’s policy changes continue to impact markets.

XRP $5 Forecast

According to a recent Ash Crypto forecast, XRP is expected to see a 300% to 740% enhance in the current market cycle. Such a rally puts the altcoin at a target level of between $3 and $5. It is worth noting that the crypto analyst’s forecast is not based on technical analysis, but on fundamentals and an anticipated rally in the overall cryptocurrency market. In lithe of this, Ash Crypto forecasts also predict that Bitcoin will trade in a range of $150,000 to $250,000 and Ethereum in a range of $10,000 to $15,000 in the next six to ten months.

At the time of writing, XRP is priced at $0.5828.

Featured image created with Dall.E, chart from Tradingview.com