What’s up, my crypto people! Here’s the hot gossip that has everyone glued to their screens: XRP is at a point they call "inflection." What does that mean? Well, it means the price can shoot up like crazy or get stuck like an old car. We need to be alert! 🧐
The price of XRP was a bit indecisive on June 30, it dropped a little, by 0.8%, and stayed around $2.17. But watch out! It remains above $2.00, which is already profit. Several experts are saying there are key resistances that XRP needs to break to shoot up and reach new records. 🚀
Big investors are putting money into XRP! 🐳💰
Look at this thing: institutional investors (that is, the big whales, the ones moving millions) have their eyes on XRP. According to CoinShares, XRP investment products (known as ETP) received $10.6 million in fresh money in the last week of June. And so far this year, they've put in $219 million! 🔥
This is a clear sign that the big players like XRP, and it's no surprise. Other cryptos like Bitcoin, Ether, and Solana also got their share, but the demand for XRP is rising like crazy. James Butterfill, a research expert at CoinShares, says this is due to the economic and geopolitical uncertainty that has everyone on edge. People are looking for a safe place to put their money, and XRP is on the radar! 🎯
Moreover, there’s more! The number of addresses holding between 1 and 10 million XRP is growing. These are the ones with a lot of XRP, and even though the price has had its drops, they are still accumulating! This tells us that those who know, the patient and strategic investors, are putting in more money, waiting for big profits in the future. Since November 2024, these addresses have increased their holdings by 65%, and the price of XRP has risen by 350% since then! Crazy! 🤯
The key levels of XRP: Where are we headed? 🛣️
Now, to what we came for: the numbers that matter. For XRP to party and surpass $3.00, it needs to break the resistance at $2.60 and turn it into solid support. But before that, the first test is to close above the $2.20-$2.30 range on the daily chart. That’s where several important moving averages converge, like the 100-day at $2.20, the 50-day at $2.25, and the 200-day at $2.36. It's a minefield for those wanting to see XRP go up! 💥
Analyst Dom made it clear on X: "the price of XRP has reached a very important breakout zone between $2.20 and $2.30." He explains that this zone is like the inflection point for a new bullish trend. If the bulls manage to reclaim that zone, we could see XRP shoot up to $3.81 in July! 🥳
But, be careful! If the bears (those who want the price to go down) manage to hold the resistance at $2.20, the price could drop to $2.15, and if things get ugly, even to the psychological level of $2.00. The next important stop if it keeps falling would be between $1.95 and $1.90, which is where it hit bottom after some airstrikes in Iran recently.
So, keep an eye out, my people! XRP is at a crucial moment. Will we see an epic takeoff or a consolidation? The market will tell us soon. $XRP
