For the past week, XRP prices have remained relatively stable, yet signs of a potential breakout are emerging.
XRP Technical Analysis
According to CoinMarketCap data, XRP fluctuated within the range of $2.15 to $2.35. In the last 24 hours, the price has slipped below the support level of $2.20, reaching $2.19, which reflects a 1.05% decline. The trading volume also decreased by 18.61%, sitting at $1.79 billion. However, should XRP break through these levels, it could trigger a rally, especially as large holders (whales) have begun accumulating.
Ripple Activity Sparks Speculation
Whale Alert, the renowned tracking platform, noted movement in Ripple escrow accounts, with 1 billion XRP unlocked outside the usual schedule. This has sparked discussions about future liquidity for XRP in the market.
Prospects for XRP
Technical indicators such as Bollinger Bands suggest an increase in buying pressure, which could propel XRP to new heights. Analysis indicates that if the price reaches $2.30, it may facilitate a breakthrough of the resistance level.
In summary, XRP stands on the brink of a possible breakout, but the future course will depend on market dynamics and the behavior of major holders.
