XRP’s Next Big Move? Levels to Watch for 30% Rally
In this ongoing market uncertainty, XRP is a local token for Ripple Labs that appears to be in a fixed range between $2.31 and $2.53 in the past few days. This merger has been a critical level of support since late November 2024, which is strengthened by the uptrend line of XRP.
$12 million worth of XRP outflow
However, this level seems crucial for investors and day traders to appear to have been accumulating and betting, according to Chain Analytics firms. Small shop. Data from spot inflows/outflows suggests that the exchange has witnessed the outflow of $12 million worth of XRP in the past 24 hours.
The outflow of communications indicates potential accumulation, which could create buying pressure and drive further upward momentum. Historically, this level has been a strong price reversal, which may explain the ongoing merger.
Trader mixed emotions
On the other hand, as Coinglass Data reports, intraday traders seem to be confused, resulting in similar long positions and short positions. At press time, intraday traders holding long positions over-leverage at $2.31 for a long position worth $33.35 million.
Instead, traders holding short positions are leveraged for $2.45 for a short position worth $30,000. On-chain indicators show that traders seem confused, making both of them bets.
XRP price action and current momentum
According to expert technical analysis, XRP Consolidate within a close range near the key support levels. According to recent price action and historical patterns, if the asset breaks from the merger and closes daily candles above $2.53, it is likely to increase by 30% to $3.30 over the next few days.
Despite uncertain outlook, XRP trades above the 200 Index Moving Average (EMA) over the daily timeframe, indicating that the assets are on an uptrend.
XRP is currently trading close to $2.40, down 2.50% over the past 24 hours. During the same period, its trading volume increased by 25%, indicating an increase in traders and investors’ participation compared to the previous day.
