XRP Price Forecast: What’s Next for the Market?
As we look ahead to the near future of $XRP , it's clear that whale activity is an essential factor to consider. Recently, the number of large holders (those with 10 million to 100 million $XRP ) has dropped to just 296, marking the lowest level since December 25, when the count stood at 301. Monitoring whale behavior is crucial since these large holders can significantly impact price movement. Typically, their accumulation signals confidence, driving prices up, while a decline suggests reduced interest or selling pressure, which could indicate a short-term dip for $XRP .
In addition, the Chaikin Money Flow (CMF), a key momentum indicator, is currently sitting at 0.28, down from a peak of 0.33 reached earlier. The CMF gauges the flow of money into and out of an asset, with values above 0 suggesting buying activity, and those below signaling potential selling. The recent drop in CMF, combined with the decrease in whale accumulation, suggests that the current bullish momentum may be fading.
So, what’s the outlook for $XRP? If support around $2.33 fails to hold, we could see further selling pressure, potentially pushing the price down to $2.13. On the flip side, if the upward momentum resumes and XRP manages to break through the $2.53 resistance level, it could aim for $2.72, offering a potential gain of 10.6%.
Please note, this is not financial advice. What’s your take on XRP’s nex
t move?
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