Recent events surrounding XRP are attracting the attention of traders and analysts. The cryptocurrency is rising, and a significant transfer of coins to the exchange is sparking speculation.
XRP Market: Current Situation
XRP is trading around $2.40 after gaining 4.4% in the last 24 hours. The price has moved up from $2.26, lifting its 7-day performance to 10.2%. XRP now holds a market cap of $141.3 billion. Daily volume has dropped 22.2% to $3.3 billion, even as the price trend stays positive.
$60 Million Transfer Raises Eyebrows
A recent transaction spotted by Whale Alert showed 25.49 million XRP worth over $60 million sent from an unknown wallet to Coinbase. Moves like this often spark speculation, as large deposits to trading platforms may point to planned sales. Meanwhile, XRP’s total number of holders has reached 6.61 million, reflecting steady growth this year.
Analysis: Predictions and Potential Resistance Levels
Crypto analyst Ali Martinez shared a bullish view, noting that XRP is breaking out from an inverse head-and-shoulders pattern on the 4-hour chart. The breakout level has already been crossed, with potential price targets around $2.4560, $2.5259, and $2.6299. Analyst CryptoWZRD noted next resistance at $2.5160.
The situation surrounding XRP warrants attention from both traders and investors. The increased interest in the cryptocurrency and significant transfers could act as catalysts for further market changes.
