XRP skyrocketed by 20%, is the next target $3.80? The whales are already in action! 🐋🚀
Recently, XRP's performance has been eye-catching — it surged by 20% in the past week, and the market seems to be on fire! 📈 But just as everyone is cheering, a big move happened: a whale transferred XRP worth $108 million to Coinbase all at once! 🐳💰
Meanwhile, the reserves on exchanges are also increasing, which usually means more coins might be dumped into the market.
However, despite a recent decrease in trading volume, XRP's price chart still shows a bullish pattern, with technical indicators suggesting it might be aiming for the key level of $3.80. 🎯
However, that said, although the bulls have been strong recently, there is also a feeling in the market that some fatigue may be setting in.
Some traders are concerned that this surge might lead to a brief cooling period, as it's normal to take a break after a continuous rise. 😌
Overall, XRP is currently like a high-speed train — fast enough, with a clear direction, but whether it will stop for a break depends on whether the buying strength in the market can be sustained! 🚄🔥
🚨 Bulls are pushing XRP, but is the shadow of selling quietly approaching?
The latest on-chain data has left many XRP fans feeling a bit complex. 📊 Let's start with some big news — whales (big fund players) have suddenly thrown out two 'big orders' in the past 24 hours, transferring a total of 33.396 million XRP, worth a whopping $108 million at current market prices! 💸 The destination for these huge tokens is — Coinbase. Well, we all understand, when coins enter an exchange, it's mostly not for collection but to find a good price to sell.
And it's not over yet! According to CryptoQuant data, recently not only have whales been active, but more XRP has been continuously flowing into major centralized exchanges, leading to a steady increase in XRP reserves on exchanges 📈. This signal is not very friendly for short-term traders, as it often means — long-term holders have taken their profits and now want to 'cash in'.
Of course, the market is never one-size-fits-all; although it seems a bit pressured in the short term, some believe this is just part of a healthy adjustment. However, for those looking to enter the market in the short term, it’s essential to be cautious at this time ⚠️, don't get caught up in a chase for high prices.
In summary: whales are moving, exchange reserves are rising, and short-term selling pressure may be coming 📉. The cryptocurrency world is ever-changing, will XRP continue to rise, or will it hit the brakes? Let’s wait and see! 👀🔥
🎮 Are the XRP bulls still in the game? Market revelations are coming!
As of now, the trading price of #xrp is firmly standing at $3.25, with a small increase of 2.5% in the past 24 hours, performing well! 📈 Although trading volume has decreased by about 15% compared to the previous day, overall trading activity remains at a good level. The decrease in trading volume may be telling us that as prices approach historical highs, some traders have begun to 'rest' or 'exit'.
On a technical level, AMBCrypto has provided us with a nice chart: XRP successfully broke through the previous downtrend line on the daily chart, and then also broke through a bullish flag pattern on the 4-hour chart 📊. These signals are good news for the bulls! Moreover, from the chart, XRP seems to be slowly forming an 'inverted head and shoulders' pattern, which, although not fully confirmed yet, often indicates that prices may further increase once completed.
Source: TradingView
Speaking of increases, the latest breakout flag pattern suggests that XRP may have another surge, potentially increasing by 15%, aiming for a target price of $3.80! 🔥 This is definitely worth paying attention to for those who like short-term opportunities!
Additionally, XRP formed a 'engulfing candlestick' pattern in the past week, which usually indicates a strengthening of the buying power, further supporting the expectation of an upward trend.
The Bollinger Bands indicator has also given the bulls a strong boost — the current price is hovering near the upper band, indicating a strong market, but it also reminds us that there may be a slight pullback in the short term, as it’s normal to take a breather when prices approach the 'ceiling'.
Finally, looking at the relative strength index (RSI), the current reading is 59, which is not yet in the overbought zone, meaning that the XRP bulls still have some 'energy', and the upward trend may continue.
Overall, XRP's current trend feels like an exciting game, with bulls still fighting on the field, aiming for new highs. 📈 However, let's not forget that the market is full of variables, so it's wise to stay alert and not blindly chase high prices!
Keep an eye on XRP, as there might be a good show in the coming days. Are you ready? 🎬✨
💥 XRP clearing cluster locks the key battlefield!
Currently, the main clearing range for XRP is between $3.134 and $3.334, which can be considered the 'battleground' for bulls and bears ⚔️. In this area, the bulls are in full force — the amount of positions taken is as high as $170.01 million! In contrast, the bears' position is only $24.85 million, it's like a small boat against an aircraft carrier 🚢✈️.
Source: CoinGlass
This data directly tells us: the bulls are gaining the upper hand 📈, and the momentum for price increases remains strong. If XRP can establish a foothold in this range, the next surge is likely to continue! 🔥
