Altcoin
Ripple Whales Move 150M Coins, What Next?
In recent XRP news, Ripple whales have transferred 150 million XRP, drawing attention from traders and analysts. This large movement, reported by Whale Alert, has raised questions about potential price fluctuations and market trends.
Amid speculation surrounding the recent whale activity, analysts have highlighted bullish indicators in the recent XRP price action. According to analysis, the Ripple token has broken key resistance levels, suggesting that a new phase of price discovery may be underway.
XRP News: Ripple Whales Transfer 150M Coins
According to Whale Alert, a blockchain tracking service, 150 million XRP valued at approximately $380 million has been moved between unknown wallets. This transaction has sparked speculation regarding the intent behind the movement, as large transfers by Ripple whales can influence market sentiment.
Such transactions are often associated with either institutional investors shifting assets or over-the-counter (OTC) trades. If the transfer is linked to an exchange deposit, traders may anticipate a sell-off, leading to short-term bearish pressure. Conversely, if the funds were moved to a private wallet, it could indicate accumulation, potentially supporting price stability.
Notably, in the most recent XRP news, whales have been on a selling spree following President Trump’s statement that the US will not include Ripple in its digital asset reserve. Over 230 million XRP, worth approximately $575 million, has been sold by large holders in just 48 hours.
XRP Price Action: Key Resistance Levels Broken
Technical analyst Dark Defender has identified XRP price action as a potential turning point. His analysis points to a structured breakout, followed by a successful retest of critical support levels. The confluence of strong buying pressure and historical price trends suggests a bullish trajectory.
His projections indicate that XRP price could be entering a new growth phase, with the potential for a parabolic rally. If the price sustains above key levels, further upside could be expected. However, external factors, including broader market conditions, remain important in determining the altcoin’s next move.
Analyst Dark Defender added,
“I’ve never seen $XRP Bullish more than this before”
Technical Indicators Signal Strong Momentum
According to XRP news, market indicators remain bullish, suggesting ongoing momentum in the top altcoin price action. Analysts have also pointed out that increased whale accumulation often coincides with strong price movement.
More so, the MACD histogram shows a shift from red to green bars, indicating a potential reversal in momentum. The Moving Average Convergence Divergence supports the bullish outlook, as the MACD line is attempting to cross above the signal line, which could signal further upward movement.
Nonetheless, in other XRP news, analysts have identified a head-and-shoulders pattern, suggesting a potential bearish breakdown. According to Ripple price prediction, the neckline support at $1.96 is a critical level, and if breached, XRP could decline further toward the $1.13 zone.
However, a move above $2.73 could shift momentum, potentially pushing the price toward last year’s high of $3.41.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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