XRP situation
Whales buying the bottom
When XRP recently fell from $2.9 to around $2.49, whales bought the bottom with a huge investment of $288 million and bought more than 120 million coins, demonstrating their confidence in its prospects. It is a strategic investment, which means that the decline may be a good opportunity to buy at a low price.
Price cycle and target
From a technical perspective, XRP is in a large price cycle, has gone through two stages, and is now in the third stage. The target price may reach $5 to $10, but the specific time of realization depends on the market.
Short-term trend analysis
If it can hold $2.3 in the short term, it is expected to rush back to $2.9, or even break through $3, reaching the 2021 high of $3.3, but the current short-term capital inflow is insufficient, and whether it can rise still needs to wait and see, and a large amount of capital inflow is required to rush to $3 or higher.
Support and Outlook
The key support level is $2.3, and the main support level is between $1.79 and $1.96. As long as it does not fall below these levels, the long-term outlook is optimistic. Although it may fall sharply after a rapid rise, as long as the support is strong, it is still expected to continue to rise.
