Recently, XRP has been on a strong positive run; Some predict that the altcoin will hit $2 in the coming weeks. This expectation coincides with increasing whale activity, as technical signals suggest that price may break through important resistance levels. In early November, the explosion of XRP has inspired experts and investors.
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Whale Fuel Price Movement
Whale buying is one of the main reasons for the activity The recent rise of XRP. Widely seen as a positive sign, major altcoin holders are accumulating millions of XRP tokens.
$XRP Not even a question up to $2. $8-20 is inevitable
1. Bullish pattern = long term setup
2. The whale is gathering hard
3. MACD cooling off + RSI neutral
4. No resistance at $1.60, then $2
5. FOMO incoming, emotion flippingMiss it #XRPHOLDERSAnd you will follow it later. pic.twitter.com/HCvoyiwWX9
— Armando Pantoja (@_TallGuyTycoon) November 27, 2024
This the whale bought over 250 million XRP during a recent market decline, leading to a 200% price increase this month. Notable transactions, such as a 150 million XRP trade valued at $227 million, have caught the attention of market watchers.
Technical indicators point to continued growth
The technical study also shows a bright future for XRP. Cryptocurrency expert, Credibull, informs us that XRP is currently experiencing a “five-wave impulse upswing,” which is characteristic of a long-term bullish trajectory.
He predicts that if the price stays above $1.05, XRP could break above $2 in the coming weeks. On the other hand, if the price breaks below this critical support level, it may signal a correction before the next upside.
Another expert, Aggreg Crypto, is closely monitoring the market growth of XRP, which is reaching significant levels. The analyst focuses on the 0.5 Fibonacci retracement level, which is now at 2.57%.
#XRP Dominance – FIB 0.5: It’s Time!
Trend lines are often invalid, but they provide a visual guide to market structure. Add Fibonacci extensions into the mix, and you have a prime indicator for predicting what’s coming next. 📈
📊 Key levels to watch:
On a monthly time frame,… pic.twitter.com/ZqMyiAoomS— EGRAG CRYPTO (@egragcrypto) November 28, 2024
If XRP closes above this level by the end of the month, it could take further gains. Analysts are also looking at the 0.702 Fibonacci level as the next target for dominance, which could lead to further price gains.
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XRP path promising $2
The price of XRP has already increased 16% in the last weekAnd it is now trading around $1.47, with a daily gain of 5%. The coin has demonstrated steady upward momentum, breaking critical resistance areas and finding support at $1.30.
If XRP maintains these levels, it is speculated that it may reach $2. Expected gains in the coming weeks are being generated by whale activity, strong technical patterns, and growing market dominance.
XRP’s success depends on its ability to maintain strong support levels and continue to the upside as it gains momentum. If the upward trend continues, XRP has the potential to reach new highs in the near future.
Featured image from Yellow.com, chart from TradingView
