These Two Factors Could Push It to $4
The post These Two Factors Could Push It to $4 appeared on BitcoinEthereumNews.com.
Whale activity, with over 1.1 billion XRP accumulated, indicates strong confidence in XRP’s long-term growth, supporting its potential to hit $4. A bull flag pattern and historical trends suggest XRP could rally beyond $4, despite short-term corrections or volatility. Following key patterns identified by crypto experts in a previous CNF update, XRP’s price could potentially hit $4. This projection is particularly notable as XRP whales have significantly increased their holdings despite a recent market downturn. According to on-chain data from Santiment, whales holding 1 to 10 million XRP added 100 million tokens during a 27.2% price dip, deploying up to $200 million to boost their total holdings from 4.71 billion to 4.8 billion XRP. Over the past month, these whales have accumulated an additional 1.1 billion tokens, reflecting a broader trend of consolidation even as XRP’s price ranged from $0.50 to $2.87. This strategic accumulation underscores strong confidence among major investors in XRP’s long-term potential. Bull Flag Pattern Hints at $4 Target Technical patterns suggest a bullish outlook for XRP. A new bull flag formation has emerged, signaling the possibility of a rally beyond $4 after a brief correction. In his tweet, analyst Ali Martinez, recently referencing the TD Sequential indicator, also predicts a near-term pullback before a sharp upward breakout. In the recent dip, whales bought over 100 million $XRP! pic.twitter.com/xU2YscIkvj — Ali (@ali_charts) December 11, 2024 Historical trends support this view, with similar patterns previously driving XRP from $0.69 to $2.87 after successive consolidations. If the current trend holds, XRP could potentially reach $4.40 in the next rally phase. Short-Term Volatility Before Rally Ripple (XRP) is currently trading at $2.41, having retraced slightly, dipping 0.36% in the past day and 3.15% in the past week. This minor pullback aligns with the expected correction highlighted by Martinez. However, whale…
Filed under: News - @ December 16, 2024 3:14 am