XRP News Today: XRP Whale Activity Surges 20% Driving Price 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 suggests a longer-term rally to $4. This prediction is based on the increased activity and accumulation by whales, who are known to have a substantial impact on the market.

The recent surge in whale volumes signals 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 also supported by other factors, such as the success of the GENIUS Act and the possibility of an ETF approval. The GENIUS Act, if passed, could provide regulatory clarity for cryptocurrencies, which could boost investor confidence in XRP. Similarly, the approval of an ETF could lead to a significant increase in demand for XRP, as it would provide a more accessible way for investors to gain exposure to the cryptocurrency.

However, it is important to note that the cryptocurrency market is highly volatile, and prices can fluctuate rapidly. Therefore, investors should exercise caution and conduct their own research before making any investment decisions. The potential rally to $4 is based on current market conditions and could change depending on various factors, such as regulatory developments and market sentiment.

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, suggesting that the cryptocurrency could see significant gains in the near future.

According to the onchain analytics platform Santiment, whale wallets holding over 1 million XRP soared to a new all-time high of 2,743 on Friday. This increase in whale activity indicates that large investors are bullish on the prospects of a further rally in XRP's price. The accumulation of XRP by whales could lead to a decrease in supply, which could drive the price higher.

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.

The pair is taking support at the 20-EMA on the 4-hour chart. A minor negative is that the RSI has formed a negative divergence, signaling weakening momentum. If the price dips below the 20-EMA, the pullback could reach $2.65. 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.