XRP News Today: XRP Whale Activity Drives Price Surge 20% to $4

XRP, the cryptocurrency associated with Ripple, has experienced a significant increase in whale volumes, which could potentially drive the price to $4. This surge in activity by large investors indicates a growing interest in XRP, which could propel the price higher in the coming days. According to analysts, the price of XRP could briefly dip to $2.65 due to profit-taking, but the overall trend points towards a longer-term rally to $4. This prediction is based on the increased activity and accumulation by whales, who are known to have a significant impact on the market.

The recent surge in whale volumes suggests that large investors are accumulating XRP, which is a bullish sign for the cryptocurrency. This accumulation could lead to a price increase as the supply of XRP in the market decreases. The increased activity by whales also suggests that they are confident in the future prospects of XRP, which could attract more investors to the cryptocurrency.

The potential rally to $4 is not without its challenges, however. The cryptocurrency market is known for its volatility, and XRP is no exception. Profit-taking by investors could lead to a brief dip in the price, but the overall trend remains bullish. The increased activity by whales and the growing interest in XRP suggest that the cryptocurrency has the potential to reach new heights in the coming days.

Veteran trader Peter Brandt has noted that XRP has formed a “highly rare continuation compound fulcrum” pattern on the chart, which could propel the price to $4.47. This technical analysis adds to the bullish sentiment surrounding XRP, as it suggests that the cryptocurrency has the potential to break through key resistance levels and reach new highs.

If the price rebounds off $2.65, it suggests that the bulls are trying to flip the level into support. That enhances the prospects of a rally above $3. If that happens, the XRP/USDT pair could surge to $3.40. Sellers are expected to fiercely defend the $3.40 level, but the rally could extend to $4 if the bulls persist. This optimistic view will be negated in the near term if the price turns down and plunges below the 20-day exponential moving average ($2.49). That could keep the pair range-bound between $2 and $3 for some time.

Conversely, a solid bounce off the 20-EMA suggests buying on dips. The bulls will then try to thrust the price above the $3 resistance. If they succeed, the pair may jump to $3.40. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.