The cryptocurrency market is abuzz with excitement as XRP, the token backed by Ripple Labs, has seen a significant surge in whale activity. According to on-chain data, nearly 120 million XRP coins have been shifted by whales in the past 24 hours, sparking speculation over future price movements. This development comes amid talks within the crypto community that XRP may hit the $2 price target ahead.

The massive whale activity has captured global attention, with many market enthusiasts joining the chorus of praise for an XRP bull run to $2 ahead. Brett Hill, a prominent figure in the crypto space, recently claimed that the XRP price will surpass $2 in the next few months. This optimism is further fueled by the recent surge in XRP's price, which has aligned with the broader market trend.

The data offered by Whale Alert on X reveals that a total of 120.18 million XRP was shifted by whales over the past day. These transactions encompassed accumulations and dumps in hand. Notably, a renowned XRP whale, Rzn, collectively shifted 63.89 million coins to the CEXs Bitstamp and Bitso via two transactions. Meanwhile, two addresses, rhWj9gaovw and rfQ9EcLkU6, collectively accumulated 56.29 million XRP from Binance, one of the world's leading cryptocurrency exchanges.

As XRP continues to trade in the green territory, market sentiments remain positive regarding its long-term prospects. The token's price has noted gains worth 1.86% over the past day, trading at $0.4758. Its 24-hour lows and tops were $0.4657 and $0.477, respectively. Coinglass data showed a 2.04% surge in XRP's Futures OI to $594.38 million, aligning with its price upswing. However, the derivatives volume tanked by 7.60%, sparking contrasting sentiments among market participants.

In conclusion, the recent whale activity and market sentiments suggest that XRP may be gearing up for a significant price movement. While the $2 price target may seem ambitious, the token's recent surge and the broader market trend suggest that it may not be an impossible feat. As the market continues to evolve, it will be interesting to see how XRP performs in the coming months.