Explosive Breakout Ahead? XRP Bulls Rally Toward $2 Mark
XRP has been rising strongly recently; some predict the altcoin will reach $2 in the coming weeks. This hope coincides with an increase in whale activity as technical signs suggest prices may breach important barrier levels. Starting in early November, XRP exploded into excitement among experts and investors.
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Whale fuel price changes
Whale buying activity is one of the main reasons for this phenomenon. XRP’s recent rise. Large altcoin holders have accumulated millions of XRP tokens, which is widely seen as a positive sign.
$ripple $2 isn’t even an issue. $8-20 is inevitable
1. Bullish Pattern = Long Term Setup
2. Whales work hard to accumulate
3. MACD Cooling + RSI Neutral
4. $1.60, then no resistance to $2
5. FOMO incoming, emotional flippingmiss this #XRP holdersyou’ll catch up to it later. pic.twitter.com/HCvoyiwWX9
— Armando Pantoja (@_TallGuyTycoon) November 27, 2024
These whale Over 250 million XRP was purchased during the recent market downturn, resulting in a 200% price increase this month. Notable transactions, such as the 150 million XRP deal worth $227 million, have caught the attention of market watchers.
Technical indicators point to continued growth
Technical research also points to a bright future for XRP. Cryptocurrency expert CrediBull tells us that XRP is currently experiencing a “five-wave pulse climb,” which is a typical long-term growth trajectory.
He predicted that XRP could break above $2 in the coming weeks if the price remains above $1.05. On the other hand, if the price breaks below this key support level, it could signal a correction before the next upward impulse.
Another expert, Egrag Crypto, is keeping a close eye on XRP’s market rise, which is approaching critical levels. Analysts are focusing on the 0.5 Fibonacci retracement level, currently at 2.57%.
#ripplecoin Dominance – FIB 0.5: It’s time!
Trendlines often fail, but they provide a visual guide to market structure. Add Fibonacci extensions to the mix and you have a leading indicator of what will happen next. 📈
📊 Key levels to watch out for:
On a monthly timeframe,… pic.twitter.com/ZqMyiAoomS— EGRAG Crypto (@egragcrypto) November 28, 2024
If XRP closes above this level by the end of the month, it could lead to more gains. Analysts also see the 0.702 Fibonacci level as the next domination target, which could lead to further price gains.
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XRP on track to hit $2
The price of XRP has increased 16% last weekcurrently trading at around $1.47, with a daily increase of 5%. The coin showed steady upward momentum, breaking out of the key resistance zone and finding support at $1.30.
If XRP sustains at these levels, there is speculation that it could approach $2. Possible gains in the coming weeks are paved by whale activity, strong technical patterns, and growing market dominance.
XRP’s success depends on its ability to hold strong support levels and continue its upward trajectory when it gains momentum. If the uptrend continues, XRP has the potential to reach new highs in the near future.
Featured image from Yellow.com, chart from TradingView
