The recent movement of a significant amount of XRP has stirred interest among traders and analysts, leading to discussions about a possible price breakout.
Major XRP Transaction
A transfer of 20 million XRP valued at approximately $60,585,668 was executed from South Korea's leading exchange, Upbit, to an unidentified wallet. This movement has caught attention due to the ongoing trend of large transfers out of exchanges, which often indicate asset accumulation.
Indicators for Price Growth
After reaching a peak of $3.10 and rebounding from a low of $2.72, XRP has shown a 0.93% gain over the last 24 hours. The current situation, where the cryptocurrency faces short-term resistance at $3.10, fuels speculation about potential future growth.
Future Prospects
Technically, if XRP maintains its position above $3, a breakout past $3.10 could emerge. However, if momentum weakens, support may be found in the range of $2.55 to $2.40. Market participants are closely monitoring wallet flows and key resistance levels.
In the coming days, the market will likely determine whether this whale action signals deliberate accumulation for a significant price rally or a defensive move amid prevailing uncertainty.
