This article is also available in Spanish.
Recently, XRP has been in a strong positive mood; Some expect the altcoin to reach $2 in the following weeks. This hope coincides with an increase in whale activity, as technical indicators indicate that the price may exceed significant barrier levels. Starting in early November, the XRP explosion inspired experts and investors.
Related reading
Fuel price movement whales
Whale buying activity is one of the main reasons for this XRP’s recent rise. It is widely seen as a positive sign, with major altcoin holders amassing millions of XRP tokens.
$XRP To $2 is not even a question. $8-20 is inevitable
1. Bullish patterns = long term setup
2. Whales are accumulating aggressively
3. MACD cooling + Relative Strength Index (RSI) neutral
4. $1.60, then no resistance at $2
5. Incoming FOMO, and emotional rollercoasterI miss this #XRPHOLDERSand will haunt him later. pic.twitter.com/HCvoyiwWX9
– Armando Pantoja (@_TallGuyTycoon) November 27, 2024
these Whales It bought over 250 million XRP during the recent market downturn, causing the price to increase by 200% this month. Notable transactions, such as the trading of 150 million XRP worth $227 million, have caught the attention of market watchers.
Technical indicators point to continued growth
The technical study also points to a bright future for XRP. Cryptocurrency expert, CrediBull, tells us that XRP is currently experiencing a “five-wave impulse rally,” which is typical of a long-term bullish trajectory.
He predicts that if the price remains above $1.05, the price of XRP may cross $2 in the coming weeks. On the other hand, if the price falls below this critical support level, it may indicate a correction before the next upward wave.
Another expert, Egrag Crypto, is closely monitoring the XRP market rally, which is approaching crucial levels. The analyst is focusing on the 0.5 Fibonacci retracement level, which is now located at 2.57%.
#XRP Domination – FIB 0.5: It’s time!
Trend lines are often overshadowed, but they provide a visual guide to market structure. Add Fibonacci extensions to the mix, and you have a leading indicator to anticipate what’s next. 📈
📊 Main levels to watch:
In the monthly time frame… pic.twitter.com/ZqMyiAoomS— Egrag Crypto (@egragcrypto) November 28, 2024
If XRP closes above this level by the end of the month, it could lead to further gains. Analysts are also looking at the 0.702 Fibonacci level as the next control target, which could lead to further price gains.
Related reading
XRP’s path to $2 is promising
The price of XRP has already risen 16% in the last weekand is now trading at $1.47, a daily rise of 5%. The coin showed consistent upward momentum, breaking through critical resistance areas and finding support at $1.30.
If XRP maintains these levels, there is speculation that it could approach $2. Potential gains in the coming weeks are being paved by whale activity, strong technical patterns, and increasing market dominance.
XRP’s success depends on its ability to hold strong support levels and continue its upward trajectory as it gains momentum. If the upward trend continues, XRP will likely reach new highs in the near future.
Featured image from Yellow.com, chart from TradingView
Comments are closed, but trackbacks and pingbacks are open.