Ripple Whales Move $300M, XRP Price Rally Next?
The Ripple wheel has moved $300 million, while analysts say the next rally needs to hold the $XRP price above $2.65.
XRP price is in focus, falling below the $2.5 level amid an ongoing broader crypto market correction.
Amid this decline, Ripple whales have moved just over $300 million, with one of these transactions presenting a bullish scenario for the altcoin.
However, analysts have revealed that XRP needs to hold higher to enjoy another leg to the upside.
Ripple Whales Move 123 million Coins
Data from Whale Alert shows that two waves moved 123 million coins today, indicating mixed sentiment among investors based on the transaction pattern.
The first wheel transferred 29.57 million XRP from an unknown wallet to the top crypto exchange, Coinbase.
The move to the exchange is usually bearish, as they indicate an intention to offload these coins.
However, the second transaction is bullish for the XRP price, as this wheel appears to be accumulating for the long term.
In another transaction, Ripple wheel transferred 94.3 million coins ($232 million) from one unknown wallet to another.
The whale pool is growing as the number of addresses holding at least 10,000 XRP has increased from around 281,000 to 300,000.
These investors play an integral role in any price rally because mass demand usually triggers price increases.
Will the XRP price increase?
In an X post, crypto analyst Egrag Crypto said the $2.65 level is key to the next big move. This echoes an analysis by crypto analyst CasiTrades, which highlighted this price range as key.
As part of his analysis, he said that if XRP breaks and holds above $2.69, it would open the door to an explosive move to $3 and above.
However, if the level holds as resistance, the altcoin could see a short-term drop to around $2.30 for a reset.
Crypto analyst Ali Martinez highlighted $2.38 as a key support zone to watch out for. However, he indicated that if the price of $XRP can stay above its current levels, it will have no problem recording a parabolic upside because "there is no major resistance cluster ahead."
Analyst MikyBull Crypto stated that his target price for XRP this market cycle is between $4 and $6.
He made the prediction after Ripple's president, Monica Long, met with UAE officials to discuss possible cooperation in expanding digital payment infrastructure.
#Xrp🔥🔥 #Ripple #CryptoNewss #Market_Update #MarketSentimentToday
XRP price is in focus, falling below the $2.5 level amid an ongoing broader crypto market correction.
Amid this decline, Ripple whales have moved just over $300 million, with one of these transactions presenting a bullish scenario for the altcoin.
However, analysts have revealed that XRP needs to hold higher to enjoy another leg to the upside.
Ripple Whales Move 123 million Coins
Data from Whale Alert shows that two waves moved 123 million coins today, indicating mixed sentiment among investors based on the transaction pattern.
The first wheel transferred 29.57 million XRP from an unknown wallet to the top crypto exchange, Coinbase.
The move to the exchange is usually bearish, as they indicate an intention to offload these coins.
However, the second transaction is bullish for the XRP price, as this wheel appears to be accumulating for the long term.
In another transaction, Ripple wheel transferred 94.3 million coins ($232 million) from one unknown wallet to another.
The whale pool is growing as the number of addresses holding at least 10,000 XRP has increased from around 281,000 to 300,000.
These investors play an integral role in any price rally because mass demand usually triggers price increases.
Will the XRP price increase?
In an X post, crypto analyst Egrag Crypto said the $2.65 level is key to the next big move. This echoes an analysis by crypto analyst CasiTrades, which highlighted this price range as key.
As part of his analysis, he said that if XRP breaks and holds above $2.69, it would open the door to an explosive move to $3 and above.
However, if the level holds as resistance, the altcoin could see a short-term drop to around $2.30 for a reset.
Crypto analyst Ali Martinez highlighted $2.38 as a key support zone to watch out for. However, he indicated that if the price of $XRP can stay above its current levels, it will have no problem recording a parabolic upside because "there is no major resistance cluster ahead."
Analyst MikyBull Crypto stated that his target price for XRP this market cycle is between $4 and $6.
He made the prediction after Ripple's president, Monica Long, met with UAE officials to discuss possible cooperation in expanding digital payment infrastructure.
#Xrp🔥🔥 #Ripple #CryptoNewss #Market_Update #MarketSentimentToday
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XRP
2.9655
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