Whales Buying as XRP Price Prediction Surges with $1.2 Billion Trading Volume

Whales Buying as XRP Price Prediction Surges with $1.2 Billion Trading Volume

The Blockchain Industry: Insights and Predictions

Source: TradingView Image source: TradingView

The XRP price has experienced a minor setback in the past 24 hours, dropping by 2.5% to reach $0.719308. This decline is part of a wider trend in the cryptocurrency market, which has shown minimal movement overall. Over the past week, XRP has seen a 4% decrease, losing momentum after the initial rally following the Ripple-SEC ruling. However, it is important to note that XRP is still up by 53% in the last 14 days and has gained more than 110% since the beginning of the year. These gains can be attributed to the increasingly positive expectations surrounding the future of XRP and Ripple. With a trading volume exceeding $1.2 billion, there is a strong possibility of further gains in the coming days or weeks.

XRP Price Prediction as $1.2 Billion Trading Volume Comes In – Are Whales Buying?

Source: TradingView Image source: TradingView

XRP’s price chart indicates that the altcoin may be approaching the bottom of its current dip. The relative strength index (RSI), a technical indicator that measures the speed and change of price movements, is about to fall below 30. This would indicate that the coin is being oversold. Additionally, XRP’s 30-day moving average is currently decreasing. However, given the ongoing momentum, it is possible that the cryptocurrency may recover before the shorter-term average falls below the 200-day average.

One crucial indicator to consider is XRP’s support level, which has been pushed down by recent dips. If the support level is breached and XRP’s price falls decisively below $0.715 or $0.71, the altcoin may experience further losses before stabilizing again. Despite this short-term negativity, XRP is expected to resume its rally in both the VoAGI-term and long-term.

Data suggests that while some XRP holders may have sold recently, the majority of whales are still buying and holding onto their XRP. These whales anticipate significant gains in the future. In fact, an analysis by Lookonchain revealed that most whales have retained their XRP investments even after the price surge sparked by the Ripple-SEC ruling.

Based on this information, it is reasonable to expect XRP to continue its growth trajectory in the near future. It could potentially reach $0.80 in the next few weeks and even surpass $0.90 within the next couple of months. Looking ahead, the growth of Ripple as a business may further propel XRP upward, potentially reaching $2 or $3 by the first half of next year.

New Altcoins With Short-Term Potential

Although XRP is currently one of the most promising cryptocurrencies in terms of fundamentals, significant price appreciation may take some time, especially after its initial post-SEC rally has subsided. Traders seeking quicker and larger gains may prefer to explore newer altcoins that have not yet experienced substantial growth spurts.

One such altcoin showing promise is BTC20, a new ERC-20 token. BTC20 provides an Ethereum-based version of Bitcoin that can be staked to earn passive income. The presale for BTC20 recently opened and has already raised over $1.5 million, indicating strong investor interest. Participants in the presale have the opportunity to acquire 6.05 million BTC20 tokens at a fixed price of $1. This level corresponds to the price BTC itself reached back in 2011.

BTC20 has a maximum supply of 21 million tokens, with additional supply generated through staking rewards over a span of 120 years. These features make BTC20 a deflationary cryptocurrency, with its price expected to appreciate steadily over time. The success of the presale suggests that investors share this expectation, as it is likely to sell out in the coming weeks.

To participate in the BTC20 presale, interested individuals can visit the official BTC20 website and connect their software wallets. The cryptocurrency can be purchased using USDT, ETH, or fiat currency.

Visit BTC20 Now to learn more.

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.