With Trump’s win, XRP is back on a bullish track, and massive transactions recently caught on-chain. Whale Alert reported two giant transfers involving XRP: one of 100 million XRP valued at over $53 million and another of 470 million XRP worth roughly $250 million.
The larger transfer, conducted by Ripple itself, caught the attention of crypto watchers as the company often moves these large amounts to fund operations and cover legal expenses related to its ongoing Ripple vs SEC case. While the exact reason for this transfer remains unclear, the impact on XRP’s price has been notable, with the cryptocurrency briefly hitting $0.57825 before experiencing a slight pullback.
While XRP has not crossed its long-due mark of $1, investors are bullish on this year’s election results and the XRP case to close soon. What next for XRP from here? Let’s read on!
XRP Price Analysis
XRP has been on a strong upward trajectory, breaking above critical moving averages—the 50 EMA, 100 EMA, and 200 EMA—which has positioned it for potential continued gains. The price has recently settled around $0.56, but resistance levels at $0.58 and $0.60 could pose challenges for further upward movement. If XRP breaks through these levels, it could make a push toward $0.65, offering a solid opportunity for additional growth.
The $0.50 level is a crucial support zone for XRP, offering a solid base for its recovery. If XRP nosedives below this level, the 100 EMA around $0.54 could serve as a buffer, providing potential support before further declines.
On the resistance side, overcoming the $0.58 to $0.60 range is essential for maintaining bullish momentum. If XRP can break these psychological and technical barriers, it could pave the way for a test of higher levels like $0.65.
XRP’s recent breakout and large whale transactions indicate a potential for continued upward movement, but key technical levels—especially $0.50 for support and $0.60 for resistance—will be critical in determining its next move. Investors should keep a close eye on these levels, as XRP’s ability to maintain momentum will depend on its ability to hold above support and overcome resistance.
Looking at the current market scenario, what do you think how high can XRP go in the coming months?
