XRP has received a lot of attention after the recent rally, and early this week the altcoin hit a 3-year high.
It is struggling to break through the $1.14 resistance, but investor confidence remains high. This provides the support needed for additional upward momentum.
XRP, Whale Trends Key to Future Price
Whale addresses have shown strong conviction in XRP and have accumulated around 900 million tokens over the past 7 days. This inflow is valued at around $1 billion, indicating that large wallet holders' interest has increased again. Their activity has driven XRP's recent 122% price surge, further strengthening market confidence.
The accumulation trend of whales suggests a long-term bullish sentiment, which is in line with XRP's steady rise. This behavior acts as a stabilizing factor to prevent sharp price declines. As whales increase their holdings, XRP receives the necessary support to sustain its upward momentum.
Additionally, the XRP Age Consumed metric shows no significant spikes, indicating that long-term holders (LTHs) are not moving their holdings. Typically, large spikes in this metric would signify profit-taking activity, which could have a negative impact on the price. The absence of such movements suggests that LTHs are confident in XRP's future potential.
This stability of LTHs strengthens the bullish outlook for XRP. By maintaining their assets, these investors signal their belief in continued price appreciation, further solidifying the $1.00 support level. This conviction creates a favorable environment for the altcoin's sustained rally.
XRP Price Prediction: Breaking $1.14 Resistance Crucial for Further Gains
XRP's price has surged 122% during the recent rally, but the altcoin remains trapped below the crucial $1.14 resistance. Overcoming this barrier is essential for XRP to sustain its upward momentum and secure higher price levels.
If the bullish factors are maintained, XRP could move above $1.14 and target levels above $1.28. However, this depends on the continued whale activity supporting the altcoin and the confidence of LTHs.
Conversely, losing the $0.99 support level would invalidate the bullish thesis. A drop below $1.00 could lead to a decline towards $0.87, which could push XRP further away from its recent highs.
