CandleFocus Ripple XRP Whale Transfers Spark Investor Interest as Prices Surge
2024-12-23
Author: Content Editor
XRP has held strong support at $2, with significant whale transactions being a driver. Whale Alert reported that 90 million XRP tokens, worth about $202.5 million, were moved to unidentified wallets in a single day. These transfers indicate potential accumulation by large institutional investors or high-net-worth individuals. Ripple's growth has been impressive, expanding four times since November 5. XRP is currently priced at $2.25, with a YTD gain of 266%. The movement of tokens to unidentified wallets typically signifies long-term accumulation plans, which is positive for price action. There are also reports of former US President Donald Trump acquiring XRP and HBAR tokens. Ripple recently introduced the Ripple USD stablecoin on the XRP Ledger. Technical indicators for XRP's performance are mixed, but there is a possibility of a bullish divergence. Key support is at $2.20, while possible resistance levels are $3.62 and $4.30. If prices break above the range, they could rise towards $5.73.
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