The recent market downturn did not deter large investors from increasing their XRP holdings, potentially pushing the cryptocurrency's value to $4. Let's examine the key factors at play.
The Role of Large Investors in XRP Dynamics
Between December 7 and 10, whales holding 1-10 million XRP acquired an additional 100 million tokens during a 27.2% price drop. Their consistent accumulation has resulted in holdings of around 4.8 billion XRP, reflecting an injection of approximately $200 million.
Technical Indicators and Their Significance
Despite forming a bull flag, the TD Sequential indicator on charts suggests a potential correction. Analyst Ali Martinez sees the possibility of another bearish phase before upward momentum resumes.
Predictions and Possible Scenarios
Currently, XRP has dipped to $2.30 after recently hitting $2.46. Following the anticipated pullback, a significant upward movement might drive the price as high as $4.40.
The interplay of whale activity and technical indicators could significantly shape XRP's trajectory in the near future. While short-term fluctuations are expected, the long-term outlook remains positive.
