XRP is showing signs of activity after a relatively quiet trading period, with analysts focusing on key levels and transactions.
Current XRP Price and Technical Analysis
XRP has begun to show signs of momentum shift after a relatively stagnant trading session. Currently trading at $2.19, XRP has posted a moderate 6% gain over the past week while reaching a daily high of $2.22. According to CoinMarketCap data, XRP is trying hard to break above its 50-day Exponential Moving Average (EMA) sitting around $2.198.
Transfer of $126 Million XRP from Bitstamp
Adding to the interest, a large amount of XRP was recently moved off the Bitstamp exchange. Reports from the crypto tracking service Whale Alert indicate that 57,304,617 XRP, valued at approximately $126.79 million, was transferred from Bitstamp to an unknown wallet.
What to Expect from XRP Soon?
Technical indicators like Bollinger Bands and MACD suggest an imminent strong move for XRP. A breakout above the $2.20 level may pave the way for higher targets, including $2.80.
In conclusion, XRP is at a crucial juncture in terms of technical analysis and institutional investor interest. Significant market movements may be expected in the upcoming days.
