💻Analysis
What will happen to the price of $XRP in the coming days?🤔
The whales🐳 of $XRP that hold between 10 and 100 million XRP have dropped to 296, the lowest level since December 25, when it reached a total of 301. Tracking whale activity is crucial because these large holders can actively influence the price⭐
Their accumulation typically signals confidence and can drive prices up, while a reduction generally indicates selling pressure or low interest. In this case, their decrease may indicate a slight short-term drop.🐻
On the other hand, the CMF (Chaikin Money Flow) is currently at 0.28, having reached a peak of 0.33 a few hours ago and has since fallen to where we are now.🔥🔥
⭐Let’s remember that the CMF is a momentum indicator that measures the flow of money into and out of the asset, based on price and volume. Values above 0 indicate buying, while those below suggest selling.⭐
What will happen then to the price?🤷
🐻🐻Indicators such as the decrease in whale accumulation and a slight drop in the CMF suggest that the current upward trend may be losing strength. If the support at $2.33 is not maintained, the price of XRP could face increased selling pressure, leading to a drop towards $2.13.🐻🐻
🚀🚀Conversely, if the upward trend regains traction and the price of $XRP breaks above the resistance of $2.53, it could aim for $2.72 as the next target, offering a potential increase of 10.6%.🚀🚀
👉THIS IS NOT INVESTMENT ADVICE.👈
What do you think?🤔🤔