Time to Buy XRP? Whales Add $290M in Tokens
Ripple’s native token, XRP, is currently making waves in the cryptocurrency space as it outperforms major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and more.
Since Donald Trump was elected President of the United States, XRP has surged over 270%, making it the highest gainer among the top ten cryptocurrencies.
XRP beats Binance Coin (BNB), eyes SOL
In this gathering, Ripple surpassing top cryptocurrencies such as Binance Coin (BNB) and Dogecoin (DOGE). However, it is currently ranked fifth on CoinMarketCap, close to fourth-placed Solana (SOL).
XRP Whales Adds $290 Million Token
Amid this ongoing rally, whales and traders have shown strong interest, belief, and confidence in the coin. recent, whale alertWhale Transaction Tracker posted on X (formerly Twitter) that XRP whales moved 154.46 million XRP tokens worth $290.6 million in the past 24 hours.
The post noted that these significant withdrawals occurred on various cryptocurrency exchanges, including Binance, Bybit, and Bithumb. Within the cryptocurrency community, this activity is seen as a potential sign of upward momentum.
Current Price Momentum
Experts and cryptocurrency enthusiasts speculate that this could be the reason for XRP’s significant 18% rise today. During this rally, XRP hit an intraday high of $1.9403. However, at press time, the altcoin was trading close to $1.88, up more than 11.15% in the past 24 hours.
Meanwhile, XRP’s trading volume surged 25% during the same period, indicating increased participation from traders and investors driven by bullish sentiment.
XRP Technical Analysis and Upcoming Levels
According to expert technical analysis, XRP is approaching its all-time high (ATH). Depending on the price action, if the altcoin exceeds its ATH level, it could experience significant gains in the coming days.
However, technical indicators such as the Relative Strength Index (RSI) point to the possibility of a price correction ahead. XRP’s daily chart shows that its RSI is currently in overbought territory.
