Hand is turning a dice and changes the direction of an arrow symbolizing that the value of the crypto currency Ripple (XRP) is going up (or vice versa)
Ripple’s XRP continues its impressive run, trading at $1.1279, up 2.07% in the last 24 hours. The crypto remains firmly in bullish territory, supported by whale activity, favourable market sentiment, and technical strength. As XRP eyes the $1.30 resistance, investors watch for signs of a breakout.
Whale activity has been a key driver behind XRP’s recent surge. Information indicates that there are notable XRP transactions, while big wallets are amassing as confidence in Ripple’s ecosystem increases. This pattern is in line with the growing trend in the wider crypto market, driven by Ripple’s increased adoption by institutions and expanding use cases.
XRP’s daily chart highlights its strong bullish structure:
The market sentiment towards XRP remains very positive due to Ripple’s ongoing legal victories and the increasing use of its blockchain technology. Data on the blockchain indicates that whales are confident, as significant transactions support the optimistic long-term perspective.
If XRP manages to surpass $1.20 and maintains its momentum, it may potentially reach the $1.30 level. If the token cannot stay above $1.05, it could fall back to the $0.89 or $0.84 support levels.
Ripple’s XRP is at a pivotal moment as it approaches key resistance levels. Whale activity, favorable technical indicators, and positive sentiment all point toward further upside. Traders should keep a close watch on $1.20 and $1.30, as breaking these levels could signal the next phase of XRP’s bullish rally.
This post was last modified on Nov 21, 2024, 10:51 GMT 10:51