Recently, the large transfer of 866 million coins from $XRP has sparked heated discussions in the market. Is this move a sign of major players accumulating or a precursor to unloading?
From a technical perspective, XRP has formed a key support line in the $3.10-$3.20 range, which coincides with the daily trendline support. Holding this level is crucial for continued upward movement.
Short-term bullish signals are evident. However, the $3.40 mark is a dense area of trapped positions from previous periods, and a failure to break through could trigger a correction.
XRP is currently at a tipping point between bulls and bears; the $3.10-$3.20 range is the short-term bullish bottom line. If held, we can look towards $3.50-$3.60; if it breaks, attention should shift to the previous low of $3.00.
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