XRP faced a one -month -old downward trend that saw it lower below the $ 2 mark, erasing the earnings made earlier this year.
However, despite the recent challenges, the price of XRP has now gone up the recovery, showing signs of rising momentum, largely supported by the accumulation of whales and broader market changes.
XRP whales are trying to benefit
The XRP whales actively accumulated tokens in last week, showing a clear signal of confidence in the Altcoin. In just seven days, the addresses holding between 10 million and 100 million XRP token collectively bought more than 510 million XRP, worth more than $ 1 billion.
This significant accumulation increased the total whales to 7.38 billion XRP. If this trend continues, it is likely that the price of XRP will be positively affected by the conviction and the increase in demand for these key investors.
This strong whale support provides a solid base for the price of cryptocurrency, which can push it up once the broader feeling of the market is improving more.
Looking at the broader feeling of the market, XRP faces challenges with its NUPL (profit / net loss not achieved), which recently plunged below the bar of 0.5 for the first time in five months. This DIP indicates that XRP has entered the “anxiety area”, an area historically associated with market corrections.
As investors’ feeling becomes more prudent, XRP could be faced with short -term price volatility. However, the world market conditions improve, especially after the American president Trump has paused the reciprocal prices for 90 days, XRP could challenge these lowering signals and start a movement up.
Can the XRP price escape the downward trend?
At the time of writing this document, the XRP price amounts to $ 2.00, marking an increase of 11.7% compared to recent days of negotiation. Although Altcoin has made significant progress, it remains under the influence of a decreasing trend of one month.
As a result, XRP is still fighting against historic stock market, but the recent increase in prices indicates a potential for a continuous increase. Given the current support for whales and the larger improvement in the market, XRP has the possibility of exceeding resistance of $ 2.14 and targeting $ 2.27, free from its downward trend.
However, if the lowering feeling intensifies, XRP could find it difficult to maintain its current price. This could lead to a drop in its key support of $ 1.94, potentially lowering at $ 1.70, thus invalidating upward perspectives.
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