XRP Price Might Drop To This Level Despite Increasing Accumulation
The post XRP Price Might Drop To This Level Despite Increasing Accumulation appeared first on Coinpedia Fintech News
As the price of the token continues to witness a decent price spike, whales have continued their constant accumulation of millions of XRP.
According to the information that was made available by WhaleStats, XRP was able to make its way into the list of the top 10 tokens in terms of trading volume among the 100 and 500 largest BSC whales throughout the course of the previous day.
At the time of this writing, one XRP is worth $0.356, which represents an increase of 2.5% over the course of the previous 24 hours and 3.9% over the course of the previous seven days.
In the previous twenty-four hours, various transactions involving 287 million XRP, which are estimated to be valued at around one hundred million dollars, have been recorded by WhaleAlert. It is estimated that around 34.7 million dollars worth of XRP has been transferred from Ripple to an unidentified wallet.
Analyst Lays Out Key Price Level to Watch
On Twitter, the pseudonymous analyst Dark Defender revealed the XRP price level that everyone should keep an eye on. According to his analysis, the first Resistance has been broken, while the RSI resistance is getting closer to the price level of $0.36618.
He went on to say that the next two short-term price targets for XRP in view are $0.4184 and $0.4726. During this time, the level of $0.33 is serving as the most crucial support, says Dark Defender.
Source: Dark Defender
Notably, multiple crypto giants have transferred around 280 million XRP tokens at the start of the weekend. The cryptocurrency exchange Bitstamp received a transfer of XRP tokens worth $11.1 million from a particular whale.
Meanwhile, data from the XRP Ledger Service shows that the total number of XRP accounts is growing steadily. With a current total of 4,506,842 holders, XRP has officially surpassed the $4 billion milestone. A new high mark has been set.
The present bullish price movement in XRP is difficult to predict, and I have no idea whether it will hold or reverse course. However, things are looking a bit well at the moment. We can only hope it stays.
Filed under: Bitcoin - @ December 26, 2022 4:21 pm