Great investors took action in the crypto market! In the last 24 hours, XRP whales have accumulated 60 million token. While these large -scale purchases increase the expectation of rise in the price of XRP, analysts began to talk about the target of $ 3.3. So, can XRP really reach this level?
XRP accumulation and market effects of whales
Although the XRP follows a wavy course in recent weeks, it continues to attract great interest from big investors. Whales reduce the supply in the market by purchasing a large amount of XRP. This usually creates upward pressure on the price.
In the past, the collective purchases made by whales had triggered price increases. However, it should not be forgotten that all major purchases do not lead to an instant rise. The current price movements of XRP will determine how the market will react to these purchases. Investors closely follow how these big savings will be reflected in the price.
Can XRP see $ 3.3?
Technical analysis shows that the XRP is likely to reach $ 3.3. If certain resistance points are broken in the graph, a strong upward trend may occur. In particular, if the bulls exceed $ 3, $ 3.3 can be seen in a short time.
However, uncertainty in the market still continues. The movements of the Bitcoin and the general crypto market can determine the direction of XRP. If the market causes a positive momentum, the rise of XRP may accelerate. However, unexpected sales prints can take down the price.
Critical levels for investors
It is critical to remain above $ 2.85 and $ 3 to increase the popular Altcoin price. If these supports are preserved, the road to $ 3.3 may be open. However, if the price falls below these levels, a short -term retreat may be experienced.
Since market dynamics can change rapidly, investors need to be careful. Although the purchases of big investors are promising for popular Altcoin, technical indicators should be closely monitored. What will determine the fate of XRP will be how the market will react to this great accumulation. As a result, the movements of whales give rise signals for XRP, but it is critical that investors take into account the risks and follow the market closely.
