XRP Price Prediction: $100M Whale Dump Hits Just Before Breakout – Can Retail Buying Stop the Bleed?
XRP whales have dumped a major quantity of tokens forward of right this moment’s FOMC assembly and will have delayed the token’s restoration. However, long-term holders are nonetheless not promoting and proceed to point out the type of dedication that favors a bullish XRP price prediction.
According to knowledge from Santiment, whale wallets holding between 100 million and 1 billion XRP have bought almost $600 million value of tokens since December 5.
Meanwhile, since December 7, whales dumped over $100 million, exhibiting that deep-pocketed traders are nonetheless promoting regardless that the value has recovered.
This explains why XRP has struggled to maneuver previous the $2 mark. The token has gathered a 5% in the previous 7 days as the Federal Reserve prepares to decide on rates of interest right this moment.
Meanwhile, buying and selling volumes have jumped by 60% in the previous 24 hours, reaching almost $4 billion. This accounts for 3% of the token’s circulating market cap and displays a spike in buying and selling exercise forward of the Fed’s rate of interest choice.
XRP Price Prediction: XRP Could Fully Recover If It Breaks This Key Resistance
XRP must clear the $2.20 stage to reverse its downtrend. The FOMC assembly might present the mandatory catalyst for this to occur, as merchants will probably be reassured about what the future holds as soon as Powell speaks.
Such a bullish breakout would additionally push XRP above its 200-day exponential shifting common (EMA).
The Relative Strength Index (RSI) must rise previous the mid-line and above the 14-day shifting common as nicely. This is usually interpreted as affirmation that bullish momentum is accelerating.
If XRP breaks via its present resistance, the $3 stage may very well be the first main goal, backed by sturdy psychological significance and historic value motion.
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