In the last 24 hours, XRP failed to break the critical $1.14 resistance level, slipping into a bearish trend. During this period, XRP whales moved an astonishing 210 million tokens, fueling speculation about market impact and potential partnerships between Ripple and Cardano.
Massive XRP Transfers Spark Market Buzz
Whale Alert data revealed two significant XRP transactions. The first involved 110,930,712 XRP, worth approximately $123.59 million, transferred from Binance to an unknown wallet. The second transaction saw 100 million XRP (valued at $110.17 million) exchanged between two anonymous wallets.
Such large-scale movements often precede notable price fluctuations, prompting market watchers to brace for potential volatility. Despite the short-term price correction, XRP’s technical indicators remain a source of optimism for investors.
Technical Analysis Points to Bullish Trends
XRP’s technical indicators continue to signal a bullish market. The 50-day moving average recently crossed above the 200-day moving average, forming a golden cross, which typically suggests a long-term upward trend.
Additionally, the MACD (Moving Average Convergence Divergence) indicator remains in positive territory, with its histogram showing increased momentum. Analysts believe that if XRP can break through the $1.14 resistance level, it may pave the way for higher targets.
Analysts Predict New Highs
Prominent crypto analyst CrediBULL Crypto forecasts that XRP could reach $20 in this market cycle. Meanwhile, Moon Lambo anticipates a price range of $5 to $8, citing XRP’s historical peak of $2. He also revealed plans to incrementally increase his position, holding some beyond $10.
Partnerships and Future Price Movement
Rumors of a potential Ripple-Cardano partnership continue to circulate, adding to the market buzz. Such collaborations could drive further adoption and price gains for XRP. Breaking the $1.14 resistance level remains a key focus, as it could open the door to new all-time highs.
As noted by Dey There, whale movements, technical momentum, and potential partnerships will be pivotal in shaping XRP’s price trajectory in the coming weeks.
XRP, Ripple, whale activity, resistance level, Cardano
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