The post XRP’s $2.40 support at risk? How Bitcoin’s comeback can shift things appeared on BitcoinEthereumNews.com.

Journalist Posted: February 19, 2025 XRP’s price action remained under pressure, indicating strong sell-side momentum.  Will whales step in, or is there more downside ahead? Ripple [XRP] surged 8% this week, with a 40% jump in daily volume as whales snapped up the $2.40 dip. The bulls are hungry, but can XRP break through to $3, or is a pullback on the horizon to shake out those weak hands before the real rally begins?  The next move could be huge – watch closely. Bitcoin dominance rebounds Active accounts on the XRP Ledger have dropped a staggering 76% from election levels, when it peaked at 109K. This sharp decline points to massive profit-taking as weak hands exit the cycle after cashing in on XRP’s rise to $3.40.  Despite this, XRP’s price chart is showing signs of fresh accumulation at the crucial $2.40 support, with whales snapping up 60 million XRP in just 24 hours. This could be the early stages of a rally back to $3, much like we’ve seen in previous cycles. However, the bearish pressure remains strong. Three straight red candlesticks on the 1D chart signal ongoing sell-side pressure, and the drop in active addresses adds to the bearish case. Source: TradingView (XRP/USDT) This shift is also reflected in the XRP/BTC pair, which, after a ten-day rally, is now cooling off.  The recent 8% surge in XRP seems to be the result of capital flowing out of BTC into altcoins – a classic move as investors rebalance their portfolios. However, Bitcoin dominance (BTC.D) just surged 1.01%, pushing near 61.20%. With this rise, it looks like Bitcoin might be reclaiming its position as the market’s focal point.  Is XRP’s support under threat? Unlike January, when whales aggressively accumulated over $1.5 billion in XRP – driven by wallets holding between 100M…

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Filed under: News - @ February 18, 2025 10:23 pm