A large XRP transfer of over $ 64 million powder from the whale has achieved the attention of the market as analysts recommend a possible bullish exit. The transaction was involved in an unknown wallet of 29 532 534 XRPs, referring to new owners.
As the XRP continues to trade with the main level of support levels, the traders monitor the market closely. Technical signals and whale movements add speculation about potential rally in the near future.
Ripple Whale's activity increases before the market movement
Chain data has confirmed that Ripple Whales has increased its positions. According to Santiment, more than 200 million XRP 10-100 million XRP signs added last week.
This increase in the accumulation of Ripple whales is considered a possible step of institutional investors who are preparing for a price exchange. At the same time, 23% of US crypto investors now hold XRP, changing one of the most recognized chips in that country.
Moreover, when the XRP ETF approval coefficients rise to 80% according to the Polymarket, the investor's interest rises. In addition, Proshares XRP ETF has been launched on May 14th by the XRP price optimism for 3 dollars.
Its a recent $ 64 million The transfer of Coinbase has been added to this outlook. Some analysts believe that this step signals the confidence of whales, which often operates in a broad market trend. If this is true, the symbol may be prepared for the main obstacle zones.
XRP Price Action signals bullish prospects
The XRP currently trades for about $ 2.20 after it is from a recent DIP to $ 2.15. The price fell on April 30, which caused $ 13.9 million in long liquidations, with a short liquidation of only $ 1.49 million.
Crypto analyst Javon Marks commented On the situation, noting: “If the bull signals are confirmed within a lower period of time, there may be another reverse gear in XRP works.”
After the decline, the openness of symbolic futures decreased by about 4%, which may indicate their risk to traders. Nevertheless, the price of the XRP will be over 20 days as a simple moving average (SMA), which is now considered an important support level of $ 2.1677.
The commander -Bollinger strip for $ 2,3082 is now a key record. If the price of XRP closes above that level of high volume, it is likely that the impetus is $ 2.50 or $ 2.80.
Momentum indicators show mixed signals
The relative strength index (RSI) is currently 52.44. It remains in the neutral zone but grows slowly, which may recommend the creation of a purchase interest. The average RSI is 54.08 and the slight difference in these levels is closely monitored.
Chaikin's cash flow (CMF) is -0.13, which shows some capital outflow, but it stays near the neutral line 0.00. If the CMF moves to a positive area, it would signal the buyer's strength return to the XRP.
Bollinger strips are also narrowed, which often indicates that breakage may soon occur. Traders are now watching the price movement over $ 2.31, rising with a volume that supports the bullish scenario.
Kelvin eggs Muhi
Kelvin is a prominent writer who has knowledge of crypto and finance, with a bachelor's degree in insurance mathematical science. Known for his inspirational analysis and reasonable content, he has a strong English command and stands out for thorough research and providing timely cryptocurrency market updates.
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