The post Will XRP Price Bounce Back Stronger After Whale Activity? appeared on BitcoinEthereumNews.com.

XRP price has shown incredible resilience in the past few days, but the recent Bitcoin crash has knocked Ripple down. As a result, $3.58 million Ripple longs faced liquidations on September 6.  XRP Liquidations Profit-taking Could Dampen XRP Price Recovery According to Santiment’s Net Realized Profit/Loss indicator, investors sold 353 million XRP to book profits on September 1. Despite this sell pressure and broader crypto market crash, Ripple has shed only 4%, which shows the resilience and buying pressure.  XRP Net Realized Profit/Loss However, technical analysis for XRP price shows a high chance of recovery in the coming days. XRP Price Analysis: Ripple Bulls Ready For a Bounce Although XRP price shed 4.28% on September 6, the remittance token is at a critical reversal level. Based on the past two-month data there are interested buyers every time Ripple has dipped. During these dips, the Relative Strength Index (RSI) has been trending higher, producing higher lows, which adds credence to the bullish outlook.Furthermore, the yearly Volume Weighted Average Price’s (VWAP) lower limit at $0.503 has also played a pivotal role in supporting the price.  If history repeats, investors can expect XRP price to see a strong buying pressure followed by a recovery rally.  Here are the key levels that investors must pay attention to if Ripple price climbs higher:  Yearly VWAP at $0.561, coinciding with a daily resistance level. Yearly VWAP’s upper limit at $0.619, also coinciding with another daily resistance zone, extending from $0.619 to $0.635.  These are the short-term targets and constitute 6% and 20% gains respectively from where XRP price trades today at $0.529. In a highly bullish case, where XRP overcomes the $0.635 hurdle and flips it into a support floor, the $0.716 hurdle is the next target.  XRP/USDT 1-day chart On the other hand, if XRP…

---

Filed under: News - @ September 7, 2024 3:27 pm