The post Ripple’s XRP Market Value Primed For Mysterious Shakeup As Whale Holdings Go Through the Roof ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.

Advertisement &nbsp &nbsp XRP has been on the right footing for the past few weeks since the eighth-largest cryptocurrency has witnessed a notable leg up. For instance, according to CoinGecko data, XRP has increased 36.9% in the past two weeks to hit $0.60. Santiment acknowledged that heightened shark and whale holdings were instrumental in enabling XRP to scale heights, with the altcoin hitting a 15-week high. The leading on-chain metrics provider pointed out, “XRP has now climbed above $0.58 for the first time since the market-wide retrace back on April 12th. This rebound is supported by climbing levels of coin hodling from whales and sharks with 100K+ XRP coins.” Source: Santiment Therefore, the heightened accumulation spree among whales and sharks paints a bullish XRP picture since the coins are being held for future purposes other than speculation. Advertisement &nbsp Is XRP Gearing Up for a Major Breakout? According to Crypto Michael, as XRP continues to make airwaves in the crypto sphere, the altcoin might be getting ready for a historic breakout. The market analyst acknowledged, “In all my years of trading crypto I have NEVER seen a 7 year long bull pennant. We might be about to witness one of the most significant breakouts in crypto history.” Source: Crypto Michael Based on this trend, XRP might surge to the psychological price of $2 if this breakout sees the light of day. Technical analysis also shows that XRP intends to leave a major symmetrical triangle, further cementing the crypto’s bullish journey. Source: TradingView As XRP continues to attract a crazy bullish crowd sentiment, the monthly RSI is also eyeing exiting a notable 6.5-year downtrend. Source: https://zycrypto.com/ripples-xrp-market-value-primed-for-mysterious-shakeup-as-whale-holdings-go-through-the-roof/

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Filed under: News - @ August 4, 2024 8:02 pm