XRP surged more than 4% on Monday, March 23, reigniting trader interest in the $2 price target, while a Bitfinex whale reportedly emerged as the top Shiba Inu buyer after accumulating 120 billion SHIB tokens in a single wave.
The dual moves across two of the largest altcoins by market cap come at a time when the broader crypto market remains deep in fear territory, with the Fear & Greed Index sitting at just 8 out of 100.
XRP Jumps Suddenly on Monday, Putting $2 Back in Play
XRP climbed to approximately $1.46 on Monday, gaining 4.36% over 24 hours on trading volume of $3.3 billion. The move broke a stretch of sideways action and pushed XRP’s market cap back above $89.5 billion.
XRP Price Target
$2
XRP is back on track toward $2 after a sudden Monday price jump reignited bullish momentum.
The $2 level has become a psychological and technical milestone for XRP traders. Reaching it from current levels would require roughly 37% additional upside, a steep climb that most analysts view as unlikely before the end of March.
CryptoTicker analysts laid out the math bluntly: “To reach $2 before the end of March 2026, XRP would need nearly 40% upside in days, a strong breakout above resistance, and a sudden surge in market momentum. None of these signals are currently present,” according to a recent analysis.
The skepticism is grounded in recent fund flows. Spot XRP ETFs, which launched in the U.S. following the resolution of Ripple’s legal battle with the SEC, have recorded over $31 million in outflows during March 2026. Total ETF assets stand at approximately $1.01 billion, a figure that has been shrinking rather than growing. The tepid demand for XRP ETFs contrasts sharply with the optimism surrounding the $2 target.
XRP also remains down more than 61% from its 2025 all-time high, underscoring how far the token has fallen despite Ripple Labs reaching a $50 billion valuation and its RLUSD stablecoin supply surpassing $1.5 billion.
Monday’s 4.36% gain is notable but modest in context. It does not yet constitute a trend reversal, and traders watching for a sustained breakout will need to see follow-through volume in the sessions ahead.
Bitfinex Whale Becomes Top SHIB Buyer With 120 Billion Tokens
Bitfinex Whale — SHIB Bought
120B SHIB
A Bitfinex whale has become the top SHIB buyer on the exchange, snapping up 120 billion Shiba Inu tokens in a single accumulation wave.
A whale operating on Bitfinex has reportedly accumulated 120 billion Shiba Inu tokens, earning the designation of top SHIB buyer on the exchange, according to U.Today reporting. At SHIB’s current price of $0.00000611, the purchase represents approximately $733,200 in value.
The “top buyer” label indicates this single entity accumulated more SHIB than any other wallet on Bitfinex during the observed window. Bitfinex is primarily used by institutional and high-net-worth traders, making the accumulation a potential signal of sophisticated money moving into the meme token.
SHIB itself gained 5.70% over 24 hours on Monday, trading with a market cap of roughly $3.6 billion and daily volume of $178.6 million. Whale transaction volume for SHIB has surged 111% in early 2026, suggesting the Bitfinex buyer is part of a broader trend of large-wallet accumulation.
The accumulation is worth watching, but large whale buys do not guarantee sustained price rallies. Whales can accumulate to sell into future strength, and a 120-billion-token position in SHIB, while large, represents a relatively small dollar amount compared to the token’s daily volume. Readers tracking large crypto transfers will recognize that whale moves often create short-term volatility in both directions.
What These Moves Signal for Altcoin Markets
Both XRP and SHIB posting gains above 4% on the same day stands out against the backdrop of extreme fear gripping the market. The Fear & Greed Index reading of 8 places current sentiment near historic lows, a level typically associated with capitulation rather than accumulation.
Yet the simultaneous upside in two major altcoins may reflect selective rotation by larger players into higher-beta assets. When traditional safe havens like gold have pulled back and Bitcoin ETF flows remain mixed, some capital appears to be flowing into altcoins with near-term catalysts or discounted valuations.
Whether the XRP and SHIB moves are correlated or coincidental is difficult to determine from a single day of data. XRP’s gain was driven by broader market-wide factors affecting top-20 tokens, while the SHIB whale buy appears to be an isolated large-wallet decision on Bitfinex.
The cautionary signals remain hard to ignore. XRP ETF outflows suggest institutional conviction is weakening, not strengthening. SHIB’s whale accumulation spike, while dramatic in percentage terms, involves a token still classified deep in speculative territory. And the extreme fear reading on sentiment indices means the market remains vulnerable to sudden reversals on negative headlines.
For XRP, the next concrete test is whether Monday’s momentum carries into mid-week trading with sustained volume above $3 billion. For SHIB, the focus shifts to whether on-chain data confirms additional whale accumulation beyond the Bitfinex buyer, or whether this was an isolated event.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
