Over the last 24 hours, XRP has shown a downward trend, failing to overcome the resistance level at $ 1.14. Another notable development during this process was the massive token transfers carried out by large XRP whales. These large transactions, in which a total of 210 million XRP were moved, coincided with claims of a possible collaboration between Ripple and Cardano. While this fluctuation in the XRP price creates uncertainty in the crypto market, technical analysis data gives hope to investors.
According to data tracked by the Whale Alert platform, 110 million XRP worth $123.59 million was transferred from Binance to an unknown wallet. In addition, another 100 million XRP was moved between two anonymous wallets. These large transactions, worth around $233 million in total, are seen as major moves that could lead to significant changes in market dynamics.
These large XRP movements are often watched carefully as they are considered to be signs of whale influence on the market and the next price surge. In particular, XRP’s failure to break through the $1.14 resistance level indicates that larger price movements may occur in the coming days.
XRP’s technical analysis points to the continuation of the bull market despite the current market conditions. The 50-day moving average crossing the 200-day moving average gives positive signals that the long-term uptrend will continue. Likewise, the MACD indicator shows positive momentum in the market.
Analysts state that if XRP can break through the resistance levels, it can reach new highs. Especially if the $ 1.14 level is broken, targets of $ 2 and higher may come to the fore. CrediBULL Crypto, one of the well-known analysts, predicts that XRP can rise to $ 20 in this cycle.
Additionally, the alleged collaboration between Ripple and Cardano could affect XRP’s future price movements. While investors are waiting for XRP to break through resistance levels, whale movements stand out as a factor that strengthens this expectation.