Ripple Whales Accumulate Over 380 Million XRP in Just 10 Days: Is A Breakout Near?
2024年9月21日 - 1:00AM
NEWSBTC
XRP has shown remarkable resilience recently, maintaining its
position above a critical support level, though a significant price
move still looms. Key data from Santiment reveals that whales are
actively accumulating XRP, having purchased over $228 million in
the past few days. Related Reading: Crypto Analyst Predicts
Dogecoin Will Surge 1,000% Past ATH – Price Targets Revealed This
aggressive accumulation suggests a growing confidence among large
holders as the market rallies toward higher prices. Analysts and
investors closely watch XRP, anticipating a breakout from key
supply levels that could trigger a rally to new highs. With
bullish sentiment rising, the next few days will be crucial in
determining XRP’s price direction and its role in the ongoing
market cycle. Will this whale activity lead to a major upward move,
or could XRP remain in its current range? Only time will tell, but
expectations are high as momentum builds in the broader crypto
market. XRP Investors Waiting For A Big Move The crypto market has
seen a significant surge, with Bitcoin and many altcoins posting
double-digit percentage gains in recent days. The Federal Reserve’s
decision to cut interest rates by 50 basis points sparked this
rally, fueling optimism among investors now eyeing the potential
start of a new crypto bull run. While investor sentiment for XRP
has turned positive, the market has not yet reflected this in the
token’s valuation. Top analysts and market participants are sharing
insights that suggest XRP may be gearing up for a strong
performance this cycle. One prominent technical and on-chain
analyst, Ali, highlighted compelling data from Santiment, which
shows that XRP whales are making substantial moves. In the
past 10 days, these large holders have purchased over 380 million
XRP, valued at approximately $228 million. This marks the highest
level of whale accumulation since early August, a bullish signal
for XRP. The accumulation of XRP by whales—often considered “smart
money”—is a sign of strength and confidence in the token’s future
price action. Related Reading: XRP ‘The Safest Investment To
Make 100% ROI’ – Former Asset Manager Shares Price Targets As the
broader market continues to push higher, investors are optimistic
that this accumulation could be an early indicator of a major rally
for XRP in the coming days. With momentum building, many are
positioning for the next big move. Price Levels To Watch XRP
is currently trading at $0.59 after several days of choppy price
action, testing a supply level around this range. While XRP remains
above the daily 200 moving average (MA) at $0.549—a sign of
long-term strength—it has struggled to close above the $0.60 mark
since late August. For bulls to trigger a move to new local highs,
the price must reclaim the $0.60 level and hold above it. Doing so
would set the stage for a challenge to a key liquidity zone around
$0.65. The $0.65 price point has served as a significant resistance
level, unbroken since early March. It’s also considered a
psychological barrier that, if breached, could drive the price to
higher levels rapidly. Investors and analysts are keeping a close
watch on this level, as breaking through it would likely bring
renewed bullish momentum. Related Reading: Dogecoin Breaking Out Of
Monthly Downtrend: Can DOGE Reach $12? However, if the price fails
to close above the current price level in the coming days, a
pullback toward the daily 200 MA around $0.55 is expected. This
would mark a critical test of support, and any breach below this
level could signal further downside risk for the token. Featured
image from Dall-E, chart from TradingView
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