XRP price has its eye on the $3 target after the last decline. With this decline, the cryptocurrency dropped to $2.2. Among the bullish potential, a large whale transferred 20 million XRP.
Positive Opinions from Analysts
Crypto analyst Justin Bennett stated that the XRP price is ready to rise above $3. Bennett’s chart shows that if the consolidation triangle is broken out, XRP could rise to $3.3 in the next upward wave.
Recently, a large whale transferred 20 million XRP ($47.2 million), which caught the attention of the community. On-chain data shows that this whale transferred this amount from an unknown wallet to the Bitstamp exchange. Transfers to exchanges are generally considered a negative signal because it indicates that the whale may consider selling these coins.
Future of Price and Support Levels
Crypto analyst Dark Defender stated that the XRP price correction is expected and emphasized that $2.13 and $2.27 are support levels to watch out for. XRP remains above these levels, indicating that the crypto is still in an uptrend and is poised to break out above the $3 level that Bennett predicted.
CrediBULL Crypto analyst stated that XRP price movements are currently one of the most bullish. The analyst said the crypto’s structure is excellent and there is real momentum behind the price rises.
The analyst stated that price corrections of 20% are normal and should be considered as buying opportunities. Only a price drop below $1.30 could invalidate XRP’s current bullish structure. Along these lines, CrediBULL Crypto predicts that the XRP price will move much higher and may soon regain the current all-time high of $3.80.
Dark Defender stated in his latest post that XRP is trying to break the $2.38 level. If the cryptocurrency manages to break above this level, the analyst predicts $2.92 as the next target. Also, Bitcoin $99,755.0 With its price above $100,000, it is thought that altcoins such as XRP may continue its upward trend.
Traders should closely monitor XRP’s support levels and whale movements. Staying above support levels indicates that the crypto is in an uptrend, while large whale transfers can affect market dynamics. Analysts’ positive views point to the potential rise of XRP, but it is important to constantly evaluate market conditions.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
