Ripple Whale Withdraws $2.2 Billion XRP, Experts Eyes on $4.5
XRP, the world’s third-largest cryptocurrency by market capitalization, is poised for a significant upside rally as it forms a bullish price action pattern on the daily time frame and attracts significant attention from cryptocurrency investors. Rising interest and confidence in altcoins has led to significant investment in the past few hours.
Ripple Whales adds 920 million XRP tokens
Today, December 16, 2024, Whale Trading Tracker whale alert Posting on X (formerly Twitter), crypto whales have moved 920 million XRP tokens worth $2.2 billion from Binance. However, this noteworthy XRP transfer occurred in two separate transactions: one during the Asian trading session and the other when the U.S. market opened.
In addition to this trade, whales and long-term holders reportedly withdrew large amounts of XRP from exchanges over the past week Coin Encyclopedia December 15, 2024.
XRP Price Prediction for December 17
These withdrawals from exchanges come as XRP price is about to break out of a bullish price action pattern. According to expert technical analysis, XRP has broken out of bullish flag and bar patterns on the daily time frame. This comes after a long period of price consolidation in a tight range.
Based on recent price action, if XRP closes above the $2.63 level, it is very likely that it will surge 72% to $4.50 levels in the future.
With the recent breakout, rising investor interest, and massive accumulation, XRP may have an easier time reaching predicted levels in the coming days.
Why is XRP price rising?
Additionally, this rise in interest could be the underlying reason behind XRP’s recent upward momentum. At press time, XRP was trading close to $2.58, with the price surging more than 6.25% in the past 24 hours. During the same period, its trading volume surged by 80%, indicating increased participation from investors and traders.
