Following whale action, XRP shows signs of perhaps rallying to $3

XRP is still getting a lot of attention from Ripple's important legal cases, such as the crucial appeal briefings that CEO Brad Garlinghouse is a part of.

According to market experts, a positive result may be a huge boost to market sentiment and drive XRP beyond important psychological barriers, potentially changing the game. An increase in whale activity, which indicates long-term confidence among key holders, lends credence to this legal optimism.

The price of XRP has been ranging between $2.00 to $2.90, which is seen by experts as a "pressure zone" where a breakthrough might occur.

With Ripple's legal momentum and whale accumulation coming together, XRP is now seeing attention from both institutional and retail investors, and it is aiming to break through higher resistance levels.

Year-End Technical Forecast for XRP - December 21, 2024
XRP's price has risen 16% in the last day, reaching $2.30 on the market. The substantial market activity, as seen by the $21.36 billion 24-hour trading volume, is supporting this spike.

Nevertheless, XRP encounters a substantial supply zone/resistance zone around $2.38, where a declining trendline meets with previous support.


Signals from important technical indicators are contradictory. Although there is some rebound momentum, a Doji candle and a bearish engulfing pattern indicate that there may be selling pressure at $2.38. The 50-day Exponential Moving Average (EMA) is close below the present price, adding support.


With an RSI of 58, we can see that momentum is neutral with a little positive lean.

Once the price breaks out over $2.38, it can set in motion a bullish trend that might take it to $2.45 and beyond. But if we can't break through this barrier, we can see prices revisit lower support levels like $2.22.

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