There was a remarkable development in the crypto currency market. The transfer of 200 million XRP from an unidentified wallet to Binance attracted the attention of investors. This major transfer, worth approximately 355.6 million dollars, raised the possibility of short -term change in market dynamics. Following the transfer, the price of XRP was observed; Experts point to the mobility in technical indicators.
Whale transfer caused mobility in the market
The large -scale transfer is closely monitored by crypto currency followers. Market observers interpreted the sudden sending of 200 million XRP to Binance as a harbinger of a possible price movement. A large number of evaluations on the subject on social media, users drew attention to the timing and the volume of the transfer.
After the transfer, the price of the XRP fell to approximately $ 1.61. This decrease raised the possibility of short -term sales pressure among investors. Some market commentators suggested that the decline could be temporary and that this movement could be part of a larger formation. Especially the fact that technical indicators such as RSI reach the extreme points indicate that new resistance and support levels may occur in the market.
Analyst Dark Defender, on the other hand, presented a more optimistic perspective and said, “The XRP is still strong in the monthly frame. This statement was perceived as morale for some investors.
Technical indicators and critical levels
Experts, the whale movement after the technical analysis side of some breaks emphasizes. In particular, the fact that it is below support levels requires more careful monitoring of price movements. The high values in the RSI indicator reveal that purchase-sale decisions should be cautious.
Casi Trades, in his comment on this issue, “RSI’de new extreme values are observed. Price, low support points should be monitored with sensitivity,” he pointed to the risks of possible withdrawal. Some technical analysts argue that after such retreats, the price can gain upward acceleration again. In particular, the increases following short -term corrections are frequently seen in the XRP history.
Technical data shows that the price will be decisive, especially if it can hold around $ 1.60. If this level is broken, it seems inevitable that new support points will come into play.
Long -term course and historical comparisons
Some experienced analysts are trying to make sense of today’s movement by looking at the past price cycles of XRP. According to Elliott wave theory, the XRP may have completed the second wave and may be on the brink of the onset of a strong third wave. This scenario suggests that the price can enter a wider rise trend.
Ecrypto, drawing attention to the major fluctuations in the past, “In 2017 XRP 73 percent decreased and increased by 2700 percent. In 2021 after 78 percent decrease in a 1000 percent rise. 50 MA, 200 mA as long as the trend of rise continues,” he said. This interpretation is considered as a hopeful signal for investors.
Historical data show that short -term decreases of XRP can often be the pioneer of greater rise. The market goes to create long -term strategies by comparing such movements with past examples. Technical indicators also support this view.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
