Crypto Whales Drive Ripple's XRP Price Towards Bullish Breakout
Ripple XRP Price Prediction: Bullish Breakout by Crypto Whales
Ripple's XRP price is following the path of the target set by a bullish triangle pattern it has been trading in. With the support of XRP holders, the altcoin is inching closer to achieving the upside target.
Ripple Whales Buy More
XRP price could witness the bullishness that Ripple whales exhibit with their accumulation. Whale addresses holding between 1 million and 10 million XRP have purchased over 90 million tokens worth $48 million, bringing their total holdings to 3.7 billion XRP.
- Accumulations generally lead to recoveries and rallies, whereas selling results in the altcoin noting corrections.
- The number of addresses conducting transactions on the network has risen by 28.8%, suggesting investors are pining for further price growth.
- The optimism shown by Ripple native token holders could act as a major catalyst for the XRP price to sustain its recent rally and grow further in the coming days.
XRP price, trading at $0.54, is noting a bounce from the support line at $0.51. This bullish pattern suggests a potential 27% rally to $0.65 is on the cards. However, to make it there, the altcoin must first breach and flip the resistances at $0.57 and $0.62 into support.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.