Recently, the price of XRP ranges, a little decreasing in recent days. However, the Ripple token is close to important resistance levels, and large investors continue to actively accumulate altcoin
We figure out what is happening on the Ripple (XRP) token market and what to expect from the price of cryptocurrency.
XRP investors retain optimism
XRP has every chance to achieve a market peak, since more than 95% of its circulating offer makes a profit. Usually, when such a majority of the offer is in profit, this signals a possible brake spread.
Nevertheless, XRP has already shown its stability in front of market peaks in the past, maintaining an ascending trend without significant downs. This feature of the XRP may mean that it will not follow the usual market trends, and the optimism of investors can additionally raise its price.
The XRP macroimpulse is enhanced due to the activity of large investors. Over the past four days, addresses containing from 100 million to 1 billion XRP have accumulated more than 1.2 billion XRP, which is almost $ 3.8 billion.
A surge of whale savings shows their confidence in the potential of XRP and readiness for future growth. A recent price decrease, probably caused the fear of missing the opportunity (FOMO), encouraging investors to increase their positions in anticipation of growth.
This optimism can become an important catalyst for increasing the price of XRP, as large holders can support the market during volatility.
XRP forecast: mixed signals
At the time of writing this analysis, XRP is traded at $ 3.13, slightly decreasing over the past four days. Altcoin remains 16.8% lower than its historical maximum $ 3.66, which investors strive for. Optimism and accumulations of large investors hold the price on the verge of a possible breakthrough.
If the efforts of whales are successful, the price of the XRP will receive a chance to rise to $ 3.41. By turning this level into new support, Altcoin will be able to return to the historical maximum $ 3.66. This will signal the prolonged bull impulse, with support from both large holders and from retail investors. The support level of $ 3.41 will be the key to further increase in the price of the XRP.
If the XRP encounters bearish signals in the market or with active sales from retail investors, the price will threaten to fall to $ 2.95 or lower. This will cancel the bull script and will arouse doubts about the stability of the rising trend.
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Source: Cryptocurrency
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