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XRP price is stuck within a narrow consolidation range, but an explosive rally might be brewing after whales purchased 200M Ripple tokens in the last five days. The purchase comes after a recent report disclosed that 23% of US investors hold Ripple, signalling high market confidence despite regulatory uncertainty from the SEC lawsuit.

XRP trades at $2.20 today, May 3, but with 71% of bullish Binance traders, how high with this altcoin rally go, and are large purchases and adoption enough to see it outperform the broader crypto market? Let’s find out.

XRP Price May Explode as US Investors, Whales, Back Ripple

The price of XRP is at a pivotal point after a recent report revealed that 23% of US crypto investors have invested in Ripple. Meanwhile, this altcoin has a 67% awareness rate, suggesting that its popularity is notably high. According to the National Cryptocurrency Association, XRP is the 6th most popular crypto in the US.

This data indicates that despite the SEC vs. Ripple lawsuit not being formally closed, investor confidence in the blockchain and its native token remains notably high. Hence, once the SEC releases an official statement on the settlement, 67% of US traders who are aware of Ripple may flock to the altcoin, and spark a massive price gain.

Meanwhile, whale activity hints that large investors are leaning towards a bullish XRP price prediction in May after acquiring a staggering 200M tokens this week alone. Per Santiment data, those holding between 10M and 100M Ripple tokens have increased their holdings from 7.59 billion to 7.79 billion

The high rate of adoption by US investors and the whale accumulation are bullish indicators and may lead to an explosive rally for the XRP price. Moreover, the technical outlook supports this positive narrative as the altcoin eyes fresh all-time highs.

Ripple Technical Analysis As it Nears Breakout Cycle

Popular analyst VipRoseTr has shared a bullish forecast on XRP price, stating that it is nearing a breakout cycle. In her analysis, she noted that this altcoin was entering a long-awaited breakout from resistance that may spark a 2x surge in market capitalisation.

The analyst identified a descending trendline on Ripple’s weekly chart, noting that with the recent formation of higher highs, this altcoin was on the verge of breaking past a major resistance hurdle. If this breakout occurs at $2.58, XRP will form the next bullish leg that will push it to as high as $3.87.

Considering this bullish XRP price analysis and the recent whale acquisitions, the altcoin has the potential to make explosive gains. However, such gains will depend on the rate at which new traders acquire Ripple, as statistics reveal that it lags behind Ethereum, Solana and Dogecoin in terms of acquisitions in the US.

The post Will XRP Price Explode? 23% of US Investors Back Ripple as Whales Scoop 200M Tokens appeared first on CoinGape.

Crypto commentator Dr. Altcoin has revealed that payment platform Banxa has secured Pi Network’s KYB approval to sell Pi coin globally. This development is undoubtedly bullish for the altcoin, considering how this could boost the altcoin’s adoption and possibly spark a price surge.

Banxa Secures Pi Network KYB Approval

In an X post, Dr. Altcoin revealed that Banxa is now KYB approved for the Pi network. He explained what this means for the Pi community, noting that people in over 100 countries can now instantly buy the Pi coin with cash through the payment platform. The crypto expert added that this is a game-changer for accessibility and global adoption of the altcoin.

The payment platform joins top crypto exchanges like MEXC and Bitget, which already secured KYB approval for the Pi Network. Dr. Altcoin stated that exchanges BitMart and HTX will likely receive their approval within the next 10 days, which he claimed is a “clear sign” that the Pi Network is moving in the right direction.

As he noted, only KYB-approved companies like Banxa can legally use and trade the Pi coin, which is why this development is significant both for the Pi Network community and the Pi coin price. Meanwhile, only those involved in P2P transactions must be KYC-approved and use non-custodial wallets.

The crypto commentator affirmed that the Pi Network has made security and trust its top priorities from day one by ensuring they verify every user and business through the KYC/KYB process. Based on this, he affirmed that Pi is not just another crypto but one that is building the foundation for a trusted, global adoption.

Why Platforms Are Willing To Go Through The Pi Network’s KYB Process

In another X post, Dr. Altcoin explained why centralized exchanges (CEXs) and platforms like Banxa are willing to go through this “long, strict, frustrating” process for the Pi Network’s KYB approval. He stated that the Pi project focuses on five key pillars, which is why it is generating so much interest.

He mentioned financial inclusion as the first pillar, noting that Pi’s ecosystem promotes universal access to fair, transparent, and efficient digital payment systems. The second pillar is interoperability, with the network scaling digital networks, ensuring fungibility, and enabling seamless financial interactions.

Dr. Altcoin mentioned identity verification, currency programmability, and decentralized financial systems as the third, fourth, and fifth pillars. Meanwhile, the crypto expert highlighted Stellar and OKX as Pi Network’s initiative partners. The Pi Blockchain runs on the Stellar Consensus Protocol (SCP). OKX is the first CEX to receive KYB approval from the Pi Network team.

Amid Banxa’s KYB approval, the Pi Network’s mainnet wallet activation has fueled speculation of a Pi coin listing on Binance. A Binance listing will be huge for the Pi coin, considering how it will further expand the altcoin’s adoption.

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