CandleFocus XRP Buy Signal! Whales Acquire 590 Million Tokens
2024-12-13
Author: Content Editor
The native token of Ripple Labs, XRP, has been consolidating within a tight range for over a week. However, data from on-chain analytics firm Santiment shows that whales and long-term holders have been accumulating large amounts of XRP during this consolidation period. These accumulations suggest a bullish outlook for the altcoin and reduce selling pressure. Technical analysis indicates that XRP is forming a bullish price pattern, and if it breaks out and closes above $2.50, it could potentially soar by 80% to reach $4.50. XRP's Relative Strength Index (RSI) suggests that there is still room for further rally. Currently, XRP is trading near $2.41 with a small price decline in the past 24 hours, but its trading volume has increased, indicating increased participation from traders and investors.
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