Ripple (XRP) and Cardano (ADA) Whales Buy Big Amid Massive Price Gains: Details

TL;DRFiling the Bags AgainThe past 24 hours have been more than successful for the cryptocurrency sector, with the total market capitalization soaring back above $3.1 trillion. While Bitcoin (BTC) and Ethereum (ETH) have recorded substantial resurgences, it was XRP and ADA that made the headlines.Ripple’s native tokenexplodedto just over $3 several hours ago. Later, the price retreated and now trades at around $2.70 (per CoinGecko’s data). Cardano’s ADA experienced an even more impressive pump, skyrocketing above $1.10 and currently hovering above $1.The assets’ positive performance is directly linked to one of Donald Trump’s latest announcements. On March 2, the US presidentconfirmedthat his administration will move forward with the establishment of a strategic crypto reserve that will include XRP, ADA, and other digital assets.The disclosure infused huge excitement in the crypto space, while large investors increased their exposure to the aforementioned tokens. According to Ali Martinez, whales purchased more than 270 million XRP in the past 48 hours and accumulated roughly 200 million ADA in the last 24 hours.These actions signal strong confidence in the assets and could inspire smaller players to hop on the bandwagon and inject fresh capital. Additionally, continuous efforts of that type reduce the circulating supply of XRP and ADA, making them potentially more valuable (assuming demand doesn’t head south).The Next Possible TargetsDespite slightly retracing from their local tops, XRP and ADA were forecasted to reach new peaks in the near future. The X user CRYPTOWZRD believes Ripple’s native token “is breaking its downtrend after confirming a beautiful retest with a higher low.” In their view, a push above $2.80 could ignite a price jump to $3.65.For their part, JAVON MARKS assumed that ADA could continue its impressive performance, envisioning a price rally to as high as $9 in the next few months.Despite the bullish environment, investors should be cautious. After all, the Relative Strength Indexes (RSI) of both assets have recently spiked above 70, which indicates overbought territory and could be followed by a pullback.