The post XRP Price Eyes Rally To $13 As Whales Move $222M appeared on BitcoinEthereumNews.com.

XRP price has shown promising signs of a potential rally as 99,999,977 XRP, valued at $222,109,105, was transferred between two unknown wallets. This large-scale transaction has fueled speculation of increased whale activity, often seen as a precursor to significant market movements. Currently trading at $2.1780, XRP is aiming for higher targets, with analysts pointing to a potential rise to $13 in the coming months. XRP Whale Activity Sparks Bullish Momentum The recent $222 million transfer of XRP has captured the attention of traders and analysts. Transactions of this scale often indicate strategic repositioning by large investors, commonly referred to as “whales.” These movements are usually associated with market shifts, either signaling accumulation ahead of a price surge or profit-taking before a downturn. This move, moreover, follows a US appeals court reveal dates for opening brief and reply brief by Ripple and its CEO Brad Garlinghouse Egrag Crypto, a market analyst, highlighted the importance of whale activity, noting that such movements can create ripple effects across the market. “Large transactions like these demonstrate confidence among major holders and could lead to significant price shifts,” the analyst remarked. Whale activity comes at a critical time as XRP’s price consolidates between $2.00 and $2.90, following a brief dip to $1.96. This consolidation has positioned XRP at a potential breakout point, with analysts suggesting an upward trend may be imminent. Analysis Points to XRP Price Rally To $13 Technical analysis by seasoned analysts like Egrag Crypto reveals bullish prospects for XRP. On the 12-month timeframe, XRP’s yearly close above $1.99 is identified as a pivotal point, marking the highest closing level since 2017. This milestone could open the door for sustained growth in the asset’s value. The analyst also emphasized that XRP’s current trajectory is steadier and less risky compared to the volatile cycles…

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Filed under: News - @ December 21, 2024 5:16 am