Since November, XRP Coin has gained 297 %against Bitcoin. While the purchases of major investors continue, the expectation of rise is strengthened. So, can this rise continue up to $ 3? Let’s answer with technical analysis…
Large investors continue to accumulate XRP Coin
Despite the general stagnation of the market, Ripple (XRP) stands out with its remarkable performance. Since November 2024, the XRP/BTC parity has increased by 297 %and has demonstrated the powerful procurement pressure on the market.
In addition, the number of wallets holding assets of 100,000 XRP or more increased by 261 in the last 10 weeks. This data proves that big investors’ interest in XRP has increased. Kriptokoin.comAs we have transferred, the new XRP ETF developments in the United States also increase the interest of investors.
One of the most important factors supporting the rise of Ripple is the increase in the number of large investor wallets. According to centimeter data, the number of wallets that hold 100,000 XRP and above have increased by 0.8 %since the beginning of December.
This shows that large investors take positions for long -term earnings and have strengthened the positive market perception of assets.
XRP Coin performs strongly against Bitcoin
When the XRP/BTC parity is examined, the XRP has a significant performance in the last 14 weeks compared to Bitcoin. This shows that XRP maintains its rise by maintaining investor interest at a time when many assets on the market follow a horizontal course.
If Bitcoin continues to be traded in a certain price range, it may be possible for XRP to maintain its momentum.
Can the XRP price reach $ 3?
According to current data, XRP Coin is currently trading at $ 2,6881. Although there is a decrease of 1.81 %on a daily basis, the weekly rise trend continues.
- 50 -day moving average (MA): 2,6778 dollars
- 200 -day moving average (MA): 2,3202 dollars
These values show that XRP is generally in a positive trend. However, when the Bollinger tapes are examined, the price is approaching the upper limit and the short term volatility may be experienced.
According to centimeter data, the accumulation/distribution (A/D) shows that the metris of 5.98 billion, ie the procurement pressure is strong and that despite price corrections, the increase may continue. If this trend continues, it may be possible for the XRP to reach $ 3 in the coming weeks.
What levels should investors pay attention to in February 2025?
One of the most important determinants in the market will be whether large investors will continue to accumulate XRP.
- If the large wallet holders maintain their purchase, the XRP can maintain the rise trend.
- However, if large investors start to sell or if the purchase request is reduced, the price may see a correction towards the support level of $ 2,35.
In the coming period, XRP’s price movements will be shaped by large investors’ wallet movements and Bitcoin’s market conditions. Therefore, investors need to closely follow both whale movements and general market trends.
