Having achieved a new victory following the court’s decision in recent weeks, Ripple’s It was seen that its native token XRP exceeded the $ 0.60 level. After this process, there were major price fluctuations in the market and XRP also got its share of this. Although there was a decline in the market again today after the rise in the past days, it was seen that XRP whales bought a remarkable amount of XRP tokens in the last 24 hours.
XRP Coin Reviews
In a new post shared on X, XRP It was stated that whales had purchased more than 50 million tokens in the last 24 hours, increasing the value of XRP they own by over $29.5 million at the current price. The resulting situation showed that whales turned the price decline to their advantage. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
On the other hand, the purchase made by whales also paralleled the statement made by Los Angeles-based film studio Fruition Production about an XRP documentary.
On-chain data provider To Coinglass According to the data, investors and traders appear to be moving towards long positions over short positions over the last seven-day period. As of press time, the main liquidation levels for traders were $0.575 on the downside and $0.604 on the upside.
In a scenario where the XRP price potentially drops to $0.575, the current $18 million long position would be eliminated. Conversely, if a positive outlook emerges again and the price returns to $0.604, the short position worth approximately $13.3 million would be liquidated.
XRP Coin Price
In the technical examinations carried out, XRP’s It was seen that it continued to stay above the 200 Exponential Moving Average (EMA) in the daily time frame, which can be interpreted as a bullish view. On the other hand, XRP was also showing the possibility of an increase due to the formation of an inverse head and shoulders price movement formation in daily price reviews.
However, in the short term, a scenario may also arise where the XRP price falls to $ 0.558. In the long term, it can be said that XRP continues its upward trend. In the scenario where the daily price candle closes above $ 0.645, it can be seen that XRP rises to $ 0.90 due to a price increase of more than 40% in the coming days.
As of writing time, XRP has increased by 1.29% in the last 24 hours due to whale accumulation and is finding buyers at $0.5992. On the other hand, the transaction volume has increased by 18.48%, which reveals the buying interest of investors.
Disclaimer: The information contained in this article does not contain 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.
