XRP‘s market performance has encountered challenges over the past day, with the price struggling to surpass the $1.14 resistance threshold. During this time, significant movements have been observed, with XRP whales transferring a staggering 210 million tokens. These activities have sparked speculation about a potential collaboration between Ripple and Cardano.
How Much XRP Did Whales Move?
Recent data from Whale Alert reveals that in one transaction, a notable amount of 110,930,712 XRP was moved from Binance to an undisclosed wallet, valued at around $123.59 million. Additionally, another transaction involved 100 million XRP exchanged between two anonymous wallets, totaling approximately $110.17 million.
What Do Technical Indicators Show?
The outlook for XRP appears promising according to technical analysis. A golden cross pattern has formed as the 50-day moving average exceeds the 200-day moving average, often signaling a long-term bullish trend. Moreover, the Moving Average Convergence Divergence (MACD) remains positive, indicating strengthening bullish momentum. This suggests that XRP may soon breach its current resistance levels.
Prominent market voices like CrediBULL Crypto have forecasted that XRP might soar to $20 in the current cycle. Meanwhile, analyst Moon Lambo highlighted a previous peak of $2, suggesting a possible rise to the $5-$8 range, with plans to build positions when XRP hits $10.
- Whales moved 210 million XRP tokens recently.
- Potential partnerships could affect future price movements.
- Technical analysis shows a bullish trend with a golden cross pattern.
Current whale activities and ongoing rumors regarding Ripple’s collaboration with Cardano are pivotal in shaping XRP’s price trajectory. A successful breakout above the $1.14 resistance level could lead to renewed investor interest and higher price points. The market remains watchful as developments unfold.