Accumulate

bullish

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/whales-accumulate-massive-xrp-holdings" data-wpel-link="internal" rel="noopener noreferrer nofollow">Whales Accumulate Massive XRP Holdings</a><br></p>
<p style="text-align: justify">In recent weeks, Ripple’s <a href="https://en.bitcoinhaber.net/ripple-and-sec-establish-common-ground-on-xrp-litigation-process" data-wpel-link="internal" rel="noopener noreferrer nofollow">XRP</a> token surged past the $0.60 mark following a favorable court ruling. However, the market has experienced significant volatility since then, impacting XRP as well. Despite a recent uptick, the market saw a decline today. In response, XRP whales have made substantial purchases, accumulating large amounts of the token within the last 24 hours.</p>
<h2 id="why-are-whales-buying-xrp">Why Are Whales Buying XRP?</h2>
<p style="text-align: justify">Recent <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data reveals</a> that XRP whales purchased more than 50 million tokens over the past day, translating to an increase of over $29.5 million at current prices. This move indicates that whales are leveraging the price dip to their advantage.</p>
<p style="text-align: justify">Additionally, Los Angeles-based Fruition Production announced an upcoming XRP documentary, which coincided with the whale purchases. This development has added another layer of interest in XRP.</p>
<h2 id="how-are-traders-positioning-themselves">How Are Traders Positioning Themselves?</h2>
<p style="text-align: justify">According to Coinglass, <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> and traders have been favoring long positions over short ones in the past week. The key liquidation levels for traders currently stand at $0.575 on the downside and $0.604 on the upside.</p>
<p style="text-align: justify">Should XRP’s price fall to $0.575, around $18 million worth of long positions will be wiped out. Conversely, if the price ascends back to $0.604, approximately $13.3 million in short positions will be liquidated.</p>
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2>
<ul>
 <li>Whales accumulating XRP suggests confidence in the token’s future.</li>
 <li>Technical indicators show a bullish trend, supported by the 200 EMA.</li>
 <li>Upcoming XRP documentary could drive further interest and demand.</li>
 <li>Key liquidation levels to watch: $0.575 and $0.604.</li>
 <li>Potential for a significant price increase if daily candle closes above $0.645.</li>
</ul>
<p style="text-align: justify">Technical analysis indicates that XRP maintains a bullish outlook, staying above the 200 Exponential Moving Average (EMA) on the daily chart. An inverse head and shoulders pattern has also emerged, suggesting further upward potential.</p>
<p style="text-align: justify">In the short term, a price drop to $0.558 remains possible. However, in the long term, XRP appears to be on an upward trajectory. If the daily candle manages to close above $0.645, XRP could see a surge to $0.90, representing a 40% increase.</p>
<p style="text-align: justify">As of now, XRP has risen by 1.29% in the last 24 hours due to whale accumulation and is trading at $0.5992. The trading volume has also spiked by 18.48%, reflecting growing investor interest.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/whales-accumulate-massive-xrp-holdings" data-wpel-link="internal" rel="noopener noreferrer nofollow">Whales Accumulate Massive XRP Holdings</a></h5>

Whales Accumulate Massive XRP Holdings

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