XRP has attracted widespread attention following its recent rise, reaching its highest level in three years earlier this week.
Despite the difficulty in breaking the $1.14 resistance level, investor confidence remains high, providing the much-needed support for further increases.
XRP whales are key
Whale addresses show strong confidence in #xrp , accumulating nearly 900 million tokens over the past seven days. This influx is valued at approximately $1 billion, highlighting the rekindled interest of large wallet holders. Their activity has driven XRP's recent 122% price surge, further boosting market confidence.
The trend of whales accumulating indicates a long-term bullish sentiment, consistent with XRP's steady rise. This behavior also acts as a stabilizing factor, preventing sudden price drops. With whale accumulation, #xrp gained the support needed to continue rising.
XRP whale addresses.
Additionally, the used years indicator of #xrp has not shown a significant spike, indicating that long-term holders (LTH) are not shifting their held assets. Typically, a significant spike in this indicator means profit-taking activity, which could negatively impact the price. The lack of such fluctuations suggests LTH are confident in XRP's future potential.
The stability of LTH enhances the bullish prospects for XRP. By holding the asset, these investors indicate their belief that the price will continue to rise, further solidifying the support level at $1.00. This belief creates a favorable environment for the continued rise of the altcoin.
XRP age consumption.
XRP Price Prediction: Breaking Barriers
The price of XRP surged by 122% in a recent rebound, but the altcoin is still trapped below the critical resistance level of $1.14. Breaking through this barrier is crucial for XRP to maintain its upward momentum and secure higher price levels.
If bullish factors remain unchanged, #xrp may break through $1.14, paving the way towards $1.28 and beyond. However, this depends on the continued activity of whales and whether LTH confidence supports the altcoin.
XRP Price Analysis.
Conversely, if it falls below the support level of $0.99, the bullish argument will fail. A drop below $1.00 could lead XRP down to $0.87, further distancing it from recent highs.
