XRP Whale Activity Signals Potential Price Surge to $4
Recent trends in the XRP market indicate a notable increase in whale volumes, hinting at a possible rally to $4. This follows XRP‘s breakout from its long-term trading range, peaking at $3.03 before some investors took profits. Analysts, including seasoned trader Peter Brandt, have identified a rare chart pattern that could propel the price to $4.47. Supporting this outlook, Santiment reports a record high of 2,743 whale wallets holding over 1 million XRP.
Key Levels and Market Analysis
Traders should monitor these critical levels:
- Support at $2.65: A bounce from this level may fuel a rise above $3.
- Resistance at $3.40: Surpassing this could pave the way to $4.
- 20-day EMA at $2.49: Falling below might limit XRP to a $2-$3 range.
Understanding Market Risks
Despite the optimistic forecast, caution is advised. A negative divergence in the RSI suggests momentum may be waning. Traders are encouraged to perform their due diligence before engaging in transactions.
