XRP's price shows positive dynamics, and experts predict further growth as a key support level holds.
Elliott Wave Analysis and Growth Prospects
Crypto market analyst Dark Defender highlighted that XRP is trading above a key support zone on the four-hour chart, corresponding to the 38.2% Fibonacci retracement level. The analyst believes this marked the 'Wave 2 bottom,' and XRP is expected to move toward $2.60, potentially reaching $5.85, suggesting a potential 132% increase from the current price.
Blockchain Activity Supports Record Levels
Data from Cointelegraph Markets Pro and TradingView show that XRP's price dropped to a three-month low of $1.94. However, active XRP addresses surged by 680% last week, indicating increased investor interest and the potential for a bullish reversal.
Increased Wallet Activity and Investor Interest
Popular analyst Brett points out increased whale activity, with large holders buying approximately 1 billion XRP tokens in the past 24 hours, signaling a growing interest in the cryptocurrency.
The increase in network activity and investor interest suggests that XRP may be on the verge of significant growth, potentially reaching new all-time highs.
