Whales accumulate XRP in an aggressive way and reduce the stock market supply and give a strong signal of demand. According to Experienced Technical Analyst Yashu Gala, the symmetrical triangle break of XRP Coin can trigger a rally towards $ 4,50-5,00. This means a 80-100 percent rise for token.
The symmetrical triangle gives a close breaking signal!
The XRP Coin daily graph offers a clear symmetrical triangle, a neutral consolidation model that usually comes before a break. Lower peaks and higher bottoms characterize this formation to squeeze the price movement into a tightening range. XRP has tested both trend lines for the last few months; Support is 2,00-2,20 dollars and the resistance is around $ 2,70. This structure shows that a definite break may be experienced soon, depending on the market momentum.
XRP/USD daily price graph. Source: Captain FaibikIf the XRP rises above the upper trend line, it can trigger a powerful rally towards $ 4,00-5.00 in line with the 5th wave expansion foreseen in the graph. A break of this size will reflect the previous rise cycles in which the XRP rapidly rises after long consolidation periods.
Whale accumulation gives clues to corporate trust
The on-Chain data from Messari and Coinmetrics show that whales have accumulated XRP in an aggressive way and contribute to the narrative of ascension. The number of addresses holding at least 1 million XRP increased steadily in the last three months to 2,740.
XRP supply is among the addresses containing more than 1 million token. Source: MessariSimilarly, addresses with at least 100,000 and 10,000 XRP rose to 33,440 and 295,360, respectively. This increasing institutional interest shows that large investors expect a big move. Historically, the sudden increases in whale accumulation have occurred before strong rise, because these players often accumulate before large price increases. If this trend persists, the supply in the stock exchanges may narrow and create a potential supply shock that strengthens the rupture movement.
For XRP, the high transaction volume in the range of 2 and $ 3 points to demand.
The Cryptoquant Volume Balloon Map emphasizes a significant increase in the transaction volume in all spot exchanges in the price range of $ 2-3. This increasing activity shows that whales and major investors may be accumulating XRP in an aggressive way in this price zone. Historically, large volume increases near lock support or consolidation areas often come before strong price breaks and indicate that recipients are activated before the next rise. The increasing demand at this level reinforces that the Whale accumulation is compatible with the trend of the accumulation and the XRP forms a strong foundation for the rise trend.
XRP Volume Balloon Map. Source: cryptoquantIn addition, past price cycles show that XRP lived paraboolic rally after high -volume accumulation stages. If the date repeats, the combination of technical breaking potential, whale interest and increasing trading activity may cause an increase of 80-100 %towards $ 4.50-5.00 in the coming weeks.
The opinions and estimates in the article belong to the analyst and are not definitely investment advice. Kriptokoin.comWe recommend that you do your own research before investing.
