America

Bank

Zero

<ul> 
 <li>XRP’s recent surge lacked whale activity, with Whale to Exchange Transactions at zero, indicating strong holder confidence.</li> 
 <li>Ripple expands globally, enhancing XRP Ledger’s use and CBDC platforms in South America through key partnerships.</li> 
</ul> 
In the volatile market, XRP has once again soared above its important $0.60 threshold, a feat it has done multiple times before, but it has historically struggled to sustain a robust climb beyond this mark. 
Many investors have been wary of the market’s reluctance to break through this barrier, but new data reveals that momentum may be shifting. 
<h2 id="strong-analyst-forecasts-xrp-breakout-amid-volatile-trends-strong">Analyst Forecasts XRP Breakout Amid Volatile Trends&nbsp;</h2> 
One of the well-known analysts, XForceGlobal, has commented on the situation and <a href="https://x.com/XForceGlobal/status/1826506276437721416">stated</a> that, according to the 4-hour chart, he thinks XRP will eventually break free from the macro triangle and the BD trendline thanks to a string of 1-2 patterns. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$XRP</a> Medium Timeframe Analysis 
 Zooming in, I'm still expecting <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a> to finally breakout of the BD trendline from the macro triangle w/ these series of 1-2's. We could see one last dip before the actual continuation, but other than that, the macro is the most telling! <a href="https://t.co/gIMPd56HDJ">pic.twitter.com/gIMPd56HDJ</a> 
 — XForceGlobal (@XForceGlobal) <a href="https://twitter.com/XForceGlobal/status/1826506276437721416?ref_src=twsrc%5Etfw">August 22, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
While there is a chance of one more dip before a true resumption, the general macro outlook remains the most compelling point to monitor. This perspective has heightened interest in XRP’s near-term potential. 
Meanwhile, <a style="color: #008000;" href="https://www.crypto-news-flash.com/bingx-advisor-why-xrp-traders-should-wait-for-a-weekly-breakout/">XRP</a> is currently trading around $0.6004, up 0.56% over the last 24 hours, with a daily trading volume of $1.15 billion. This tiny increase has rekindled speculation about XRP’s ability to breakout from its recent stagnation. 
<div class="cryptoboxes" id="mcw-345586" data-realtime="on">
 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-coin="xrp" data-symbol="XRP" data-currency="USD" data-rate="1.000268" data-type="chart" data-view="day" data-theme="light" data-smooth="true" data-areacolor="" data-bgcolor=""></div>
</div>No less interesting, CryptoQuant data has shown an unexpected development: XRP’s Whale to Exchange Transactions value is now zero. 
<figure id="attachment_800659" aria-describedby="caption-attachment-800659" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="wp-image-800659 " src="https://www.crypto-news-flash.com/wp-content/uploads/2024/08/XRP-Ledger-Whale-to-Exchange-Transactions-Binance.png" alt="" width="627" height="353" srcset="//www.crypto-news-flash.com/wp-content/uploads/2024/08/XRP-Ledger-Whale-to-Exchange-Transactions-Binance.png 4000w, //www.crypto-news-flash.com/wp-content/uploads/2024/08/XRP-Ledger-Whale-to-Exchange-Transactions-Binance-300x169.png 300w, //www.crypto-news-flash.com/wp-content/uploads/2024/08/XRP-Ledger-Whale-to-Exchange-Transactions-Binance-1200x675.png 1200w, //www.crypto-news-flash.com/wp-content/uploads/2024/08/XRP-Ledger-Whale-to-Exchange-Transactions-Binance-768x432.png 768w, //www.crypto-news-flash.com/wp-content/uploads/2024/08/XRP-Ledger-Whale-to-Exchange-Transactions-Binance-1536x864.png 1536w, //www.crypto-news-flash.com/wp-content/uploads/2024/08/XRP-Ledger-Whale-to-Exchange-Transactions-Binance-2048x1152.png 2048w, //www.crypto-news-flash.com/wp-content/uploads/2024/08/XRP-Ledger-Whale-to-Exchange-Transactions-Binance-150x84.png 150w, //www.crypto-news-flash.com/wp-content/uploads/2024/08/XRP-Ledger-Whale-to-Exchange-Transactions-Binance-450x253.png 450w" sizes="(max-width: 627px) 100vw, 627px">
 <figcaption id="caption-attachment-800659" class="wp-caption-text">
 Source: CryptoQuant
 </figcaption>
</figure> 
This shows that no whales moved huge quantities of the token to exchanges during the recent price surge, which is often associated with liquidation. The absence of such moves shows that major holders are confident in the asset’s existing course. 
On the other hand, Switzerland has expanded its fast payment methods, as more banks integrate XRP into their trading platforms. 
According to <a style="color: #008000;" href="https://www.crypto-news-flash.com/swiss-banks-embrace-instant-payments-could-xrp-become-the-go-to-crypto/">CNF</a>, the acceptability of cryptocurrency in the Swiss banking system is progressively increasing, with 28% of banks allowing or proposing to allow their customers to invest in digital assets. 
This expanding institutional acceptance in Switzerland mirrors a larger movement toward bitcoin in the traditional financial sector. 
Meanwhile, as we previously <a style="color: #008000;" href="https://www.crypto-news-flash.com/xrp-goes-global-research-reveals-institutional-use-across-all-7-continents/">reported</a>, Ripple is rapidly expanding its international footprint through global collaborations, with a special emphasis on promoting the adoption of the XRP Ledger. 
The company is making substantial progress in South America, developing its Central Bank Digital Currency (CBDC) platform in conjunction with the Bank of Colombia and Fenasbac in Brazil.

XRP Surge: Sees Zero Whale Activity, Confidence Grows

Table of Contents

Crypto News Flash

Other articles published on Aug 22, 2024

Top Tap-to-Earn Games to Play in 2024

Top AI Tokens To Buy As Altcoins Ready To Explode

4 Crypto Presales to Keep Tabs on in 2024

Microsoft to Release Controversial Recall AI Feature in Oct

Changpeng Zhao moved to custody of field office ahead of Sept release

Bybit Offers P2P Users Exclusive Rebates and Coupons

Join our free newsletter for daily crypto updates!