Look!!! Latest!! XRP's "last fight" is expected to trigger a new round of gains

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Although the recent market correction caused XRP to fall from $2.50 to below $2, strong buying support and whale activity indicate that Ripple may usher in a potential rebound. The following analyzes XRP's short-term potential from three aspects: technical, fundamental and whale behavior.

Technical analysis: Upward momentum is gathering momentum

Key support and resistance levels:

Current price: XRP is currently trading around $2.25, which is up from recent lows.

Short-term resistance: Analyst Javon Marks pointed out that if the "hidden bullish divergence" is confirmed on the 4-hour chart, XRP may quickly test $2.90.

All-time high path: Once it breaks through $2.90, the next target is $3.84, and then it may challenge the all-time high.

Technical support:

Crypto Bitlord and CrediBULL Crypto mentioned that XRP's BTC pairing chart shows extremely bullish potential, which may further drive the dollar-denominated XRP price.

Analyst target price:

Crypto Bitlord predicts that XRP may hit $12 in the last wave of gains in 2024, a target based on the scalability of the current market structure.

Macro positive factors:

The Federal Reserve announced a rate cut, but also hinted that it would pause further easing. This news has boosted market sentiment to a certain extent, especially risky assets.

Impact of whale buying:

In the past week, whales have accumulated more than 120 million XRP. These large buy orders not only directly reduce the liquidity supply in the market, but may also further drive prices up in the following two ways:

Triggering retail effect: The active actions of whales are often seen as potential signals to attract small investors to join the bull camp.

Supply and demand imbalance: Reduced supply and increased demand will drive XRP prices higher.

Bullish outlook:

If XRP manages to break through the $2.50 and $2.90 resistance levels in the coming days, it could trigger a chain reaction that drives its price towards the $12 target.

The support of whale actions and technical patterns provides additional momentum for this bullish outlook.

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