Could XRP hit $100, $300, or even $500? Here’s what could make it happen
The post Could XRP hit $100, $300, or even $500? Here’s what could make it happen appeared on BitcoinEthereumNews.com.
Whale purchase of 30 million $XRP signaled renewed confidence and potential price growth. XRP’s technical indicators suggested further bullish momentum if volume and sentiment continue. In the past 24 hours, whale investors have purchased a staggering 30 million Ripple[XRP] tokens, triggering a surge in demand and drawing attention to XRP’s price potential. This sudden spike raises an important question: Could this be the beginning of a major rally for XRP? More intriguingly, is it possible for XRP to reach extreme price levels like $100, $300, or even $500? Whale activity and immediate price impact Santiment data highlights a significant rise in whale transactions exceeding $1 million, coinciding with an upward movement in XRP’s price. Over the past 24 hours, whale addresses have aggressively accumulated approximately 30 million XRP tokens, signaling renewed confidence among large investors. Source: Santiment This surge in whale activity often precedes price rallies, as substantial buying pressure reduces available supply and boosts market sentiment. On the chart, XRP’s price shows a clear uptick following the increase in whale transactions. Notably, the highest concentration of these whale movements aligns with the coin’s price of around $2.54. If this pattern holds, the current accumulation could drive XRP’s price higher in the short term. Such behavior often fuels speculation of whether XRP is entering a new bullish phase. What the metrics say XRP’s daily chart showcased a notable uptrend with trading volume spiking during its recent rally, reflecting strong buying momentum. However, the volume has tapered off slightly, indicating potential indecision or consolidation before the next move. The RSI sat at 65.79, suggesting that XRP was approaching overbought territory, but still has room for upward movement. This level often signals a continuation of bullish sentiment, provided buyers maintain control. Source: TradingView Meanwhile, the 50-day MA crossed above the 200-day MA,…
Filed under: News - @ December 18, 2024 8:24 pm